-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
Why Temasak never buy over MLlynch
- Thread starter congo9
- Start date
Well, they made US$1 billion. Should be good enough to shut up the likes of the MONGREL who bit his masters' hands LOUDHAILER chee soon juan and his irk.
Give Ho Ching a raise.
Updated: 15th September 2008, 1941 hrs
Temasek to be unscathed by Merrill's sale
Sources say Temasek Holdings had little say in Merrill Lynch's surprise decision to be sold to Bank of America, despite being Merrill's biggest single investor.
But they add that Temasek may emerge from the crisis relatively unscathed.
One source who was familiar with the matter told Dow Jones Newswires that Temasek was not informed of Merrill's plans until late and then had a minimum role in the talks with B-O-A, as it doesn't hold a seat on Merrill's board.
B-O-A has agreed to buy Merrill for 50 billion US dollars, or 29 US dollars a share, in an-all stock transaction.
The source added that Temasek had bought Merrill's shares for an average of 24 US dollars each, so the investment firm is above water.
Temasek is the largest single investor in Merrill, with a 14-percent stake, indicating it could earn as much as 1 billion US dollars in paper profit based on current prices.
A second person said Temasek has yet to decide whether it will keep or sell the B-O-A shares it receives.
Analysts said Temasek may welcome the opportunity to own a portion of a commercial bank rather than an investment bank because the former may be more stable and has firmer backing from the U.S. Federal Reserve.
Temasek to be unscathed by Merrill's sale
Sources say Temasek Holdings had little say in Merrill Lynch's surprise decision to be sold to Bank of America, despite being Merrill's biggest single investor.
But they add that Temasek may emerge from the crisis relatively unscathed.
One source who was familiar with the matter told Dow Jones Newswires that Temasek was not informed of Merrill's plans until late and then had a minimum role in the talks with B-O-A, as it doesn't hold a seat on Merrill's board.
B-O-A has agreed to buy Merrill for 50 billion US dollars, or 29 US dollars a share, in an-all stock transaction.
The source added that Temasek had bought Merrill's shares for an average of 24 US dollars each, so the investment firm is above water.
Temasek is the largest single investor in Merrill, with a 14-percent stake, indicating it could earn as much as 1 billion US dollars in paper profit based on current prices.
A second person said Temasek has yet to decide whether it will keep or sell the B-O-A shares it receives.
Analysts said Temasek may welcome the opportunity to own a portion of a commercial bank rather than an investment bank because the former may be more stable and has firmer backing from the U.S. Federal Reserve.
Not calling any forumer names. I am entitled to call any public figure names. As long as forumers can call Mr Lee Kuan Yew, Mr Goh Chok Tong and Mr Lee Hsien Loong names, why should I be precluded from calling the MONGREL who bit his masters' hands LOUDHAILER chee soon juan what he is, namely a MONGREL who bit his masters' hands?
It was reported in the news by analysts who worked backwards from public information. Of course, Temasek would rather not have earned the $1 billion and held on to the shares instead.
Let's see. The insatiable greed in your owner and her Familee's need to pay Uncle Sam protection money would make her decide to push her luck. Thus instead of cashing it out, she would stupidly exchange for BOA shares and results in her losing everything including her undies as BOA share price drops? Btw, her net loss is in the order of tens of billions, right?
LONDON, Sept 15 (Reuters) - PricewaterhouseCoopers [PWC.UL]:
* Can't say if Lehman Europe staff will be paid at the end of this week, no clarity on bonuses
* Lehman Europe suspended all market trading activity, likely to make negligible new commitments in the market
* Aims to minimise systemic risk from Lehman Europe admistration
* Lehman Europe extremely complex and will take some time to unravel and assess outcome for creditors
Business services company PwC said earlier on Monday it had been appointed joint administrators for Lehman Brothers International Europe. (Reporting by Steve Slater, Writing by Dan Lalor)
* Can't say if Lehman Europe staff will be paid at the end of this week, no clarity on bonuses
* Lehman Europe suspended all market trading activity, likely to make negligible new commitments in the market
* Aims to minimise systemic risk from Lehman Europe admistration
* Lehman Europe extremely complex and will take some time to unravel and assess outcome for creditors
Business services company PwC said earlier on Monday it had been appointed joint administrators for Lehman Brothers International Europe. (Reporting by Steve Slater, Writing by Dan Lalor)
Temasek may increase stake in Merrill Lynch
POSTED: Thursday, August 21, 2008
FROM BLOG: Dealscape, from TheDeal.com - From the editors of TheDeal.com, covering mergers and acquisitions, private equity, venture capital, bankruptcy and the middle market. Plus the latest news and features on top dealmakers.
The following blog post is from an independent writer and is not connected with Reuters News. The opinions and views expressed herein are those of the author and are not endorsed by Reuters.com.
Merrill Lynch & Co.'s largest shareholder, Temasek Holdings Pte., may be looking to increase its stake in the beleaguered bank on the chance that the company is on the rebound....
POSTED: Thursday, August 21, 2008
FROM BLOG: Dealscape, from TheDeal.com - From the editors of TheDeal.com, covering mergers and acquisitions, private equity, venture capital, bankruptcy and the middle market. Plus the latest news and features on top dealmakers.
The following blog post is from an independent writer and is not connected with Reuters News. The opinions and views expressed herein are those of the author and are not endorsed by Reuters.com.
Merrill Lynch & Co.'s largest shareholder, Temasek Holdings Pte., may be looking to increase its stake in the beleaguered bank on the chance that the company is on the rebound....
Look at how badly conned Ho Jinx was by the Yankees and blinded by her lumber 1 ego. At this rate, Sporns would be sold as whores and gigolos to help her repay her punting losses! Heard that the so-called fun managers in Temasick are FTrash and retired scholar paper generals. They really fcuked BIG TIME and are now passing the bill to Sporns in the form of more rounds of fee and tax hikes! *PTUI*
http://www.iht.com/articles/2008/08/27/business/temasek.php
Temasek expresses confidence in Merrill Lynch
Bloomberg NewsPublished: August 28, 2008
Temasek Holdings, Singapore's $130 billion sovereign wealth fund, said Wednesday after its decision to increase its stake in Merrill Lynch that it had "great confidence" in the bank's chief executive, John Thain.
Temasek, Merrill's biggest shareholder, received U.S. antitrust approval Tuesday to raise its stake to 13 percent to 14 percent. Last month, Temasek announced its plan to increase its holding in Merrill from 9.4 percent.
Merrill has a "great franchise, which has existed through many crises through a long period of time," said Michael Dee, Temasek's international senior managing director.
Temasek, whose profit doubled in the year ending in March, said its decision to further increase its stake was based on Thain and his management team.
"We had great confidence in John Thain; we had great confidence in the rest of the management and the board," Dee said.
Today in Business with Reuters
Stocks slide after Wall Street implosionFrantic day on Wall Street as banks fallEuropean central banks say they're ready to act
Dee said Temasek was also confident about its Merrill investment because the U.S. banking system is diversified enough with thousands of lenders to handle the failure of a small group.
"The strength of the American financial system is the diversity and that no single bank or no single group of banks is really that large," he said.
Temasek has invested about $5 billion in Merrill since Dec. 24. after Thain succeeded E. Stanley O'Neal, who was removed after the firm's biggest quarterly loss in its 93-year history. Merrill's write-downs are about 10 percent of the more than $500 million of credit losses by banks amid the subprime meltdown.
"The bottom line is financial institutions are still asking for more capital," said Shane Oliver, the head of investment strategy at AMP Capital Investors in Sydney. With sovereign funds, he added, "there's still plenty of capital out there, so they're looking for somewhere to park that money."
Temasek, which is wholly owned by Singapore's Finance Ministry, has been increasing investments in global financial services companies to take advantage of a stock-market slump that erased about $10 trillion in market value in the past year. The MSCI World/Financials Index has dropped 33 percent in the period.
The sovereign fund said on July 29 that it was putting a further $900 million into Merrill after it was compensated for the initial investment. Temasek said it would use a $2.5 billion reset payment for losses from its earlier purchase toward buying $3.4 billion of Merrill stock, and that the securities firm would book the reset as an expense.
Merrill shares have fallen about 55 percent since Temasek's first investment on Dec. 24.
http://www.iht.com/articles/2008/08/27/business/temasek.php
Temasek expresses confidence in Merrill Lynch
Bloomberg NewsPublished: August 28, 2008
Temasek Holdings, Singapore's $130 billion sovereign wealth fund, said Wednesday after its decision to increase its stake in Merrill Lynch that it had "great confidence" in the bank's chief executive, John Thain.
Temasek, Merrill's biggest shareholder, received U.S. antitrust approval Tuesday to raise its stake to 13 percent to 14 percent. Last month, Temasek announced its plan to increase its holding in Merrill from 9.4 percent.
Merrill has a "great franchise, which has existed through many crises through a long period of time," said Michael Dee, Temasek's international senior managing director.
Temasek, whose profit doubled in the year ending in March, said its decision to further increase its stake was based on Thain and his management team.
"We had great confidence in John Thain; we had great confidence in the rest of the management and the board," Dee said.
Today in Business with Reuters
Stocks slide after Wall Street implosionFrantic day on Wall Street as banks fallEuropean central banks say they're ready to act
Dee said Temasek was also confident about its Merrill investment because the U.S. banking system is diversified enough with thousands of lenders to handle the failure of a small group.
"The strength of the American financial system is the diversity and that no single bank or no single group of banks is really that large," he said.
Temasek has invested about $5 billion in Merrill since Dec. 24. after Thain succeeded E. Stanley O'Neal, who was removed after the firm's biggest quarterly loss in its 93-year history. Merrill's write-downs are about 10 percent of the more than $500 million of credit losses by banks amid the subprime meltdown.
"The bottom line is financial institutions are still asking for more capital," said Shane Oliver, the head of investment strategy at AMP Capital Investors in Sydney. With sovereign funds, he added, "there's still plenty of capital out there, so they're looking for somewhere to park that money."
Temasek, which is wholly owned by Singapore's Finance Ministry, has been increasing investments in global financial services companies to take advantage of a stock-market slump that erased about $10 trillion in market value in the past year. The MSCI World/Financials Index has dropped 33 percent in the period.
The sovereign fund said on July 29 that it was putting a further $900 million into Merrill after it was compensated for the initial investment. Temasek said it would use a $2.5 billion reset payment for losses from its earlier purchase toward buying $3.4 billion of Merrill stock, and that the securities firm would book the reset as an expense.
Merrill shares have fallen about 55 percent since Temasek's first investment on Dec. 24.
Temasek may increase stake in Merrill Lynch
[Posted on August 21, 2008 at 8:35 AM]
E-mail | Leave a Comment
Filed under: Banking | Deal International | Editor's Choice | Innovative Financing | Sovereign wealth fund
Merrill Lynch & Co.'s largest shareholder, Temasek Holdings Pte., may be looking to increase its stake in the beleaguered bank on the chance that the company is on the rebound.
Bloomberg is reporting that the Chairman of a Singaporean sovereign wealth fund, S. Dhanabalan, made the comments in a speech today. "If there's an opportunity, we would like to look at it," said Dhanabalan. "Whether we do it depends on our assessment and risk diversification."
The vote of confidence may surprise some, since Merrill's shares have dropped roughly 55% since December 2007, when Temasek invested $5 billion for a 5% stake in the bank. The investment was part of a rush by sovereign wealth funds to spend $200 billion buying large stakes in US financial firms at what they then considered deep discounts. However, the wealth funds were unable to catch the falling knife and have been burned as financial stocks continued to plummet thanks massive write-downs related to mortgage-backed assets. Having learned their lesson, no sovereign wealth fund has stepped up to help Lehman Brothers Inc. out with its liquidity problems.
Temasek also faces regulatory problems with buying more of Merrill, as foreign investors are prohibited from owning more than 10% of a US bank. Last month Temasek committed another $900 million to Merrill as it bought another $3.4 billion in stock through a Merrill offering. However, the Singapore state-owned investment company made the purchase under an earlier price protection agreement, so Merrill will effectively fund $2.5 billion of the purchase. The deal will push Temasek's stake beyond the 10% limit and require regulatory approval, however. - George White
[Posted on August 21, 2008 at 8:35 AM]
E-mail | Leave a Comment
Filed under: Banking | Deal International | Editor's Choice | Innovative Financing | Sovereign wealth fund
Merrill Lynch & Co.'s largest shareholder, Temasek Holdings Pte., may be looking to increase its stake in the beleaguered bank on the chance that the company is on the rebound.
Bloomberg is reporting that the Chairman of a Singaporean sovereign wealth fund, S. Dhanabalan, made the comments in a speech today. "If there's an opportunity, we would like to look at it," said Dhanabalan. "Whether we do it depends on our assessment and risk diversification."
The vote of confidence may surprise some, since Merrill's shares have dropped roughly 55% since December 2007, when Temasek invested $5 billion for a 5% stake in the bank. The investment was part of a rush by sovereign wealth funds to spend $200 billion buying large stakes in US financial firms at what they then considered deep discounts. However, the wealth funds were unable to catch the falling knife and have been burned as financial stocks continued to plummet thanks massive write-downs related to mortgage-backed assets. Having learned their lesson, no sovereign wealth fund has stepped up to help Lehman Brothers Inc. out with its liquidity problems.
Temasek also faces regulatory problems with buying more of Merrill, as foreign investors are prohibited from owning more than 10% of a US bank. Last month Temasek committed another $900 million to Merrill as it bought another $3.4 billion in stock through a Merrill offering. However, the Singapore state-owned investment company made the purchase under an earlier price protection agreement, so Merrill will effectively fund $2.5 billion of the purchase. The deal will push Temasek's stake beyond the 10% limit and require regulatory approval, however. - George White
because if USA gov does not bait out Merrill Lynch like Lehman investment bank.
all the money that they invested - sg cpf money will turn to dust.
they can only hope US tax money will hold it up. If not, a lot of sinkies will have nothing when they retired. (well not nothing, but very little, due to inflation)
we will know in a few months time. whether ho ching is hero or zero.
all the money that they invested - sg cpf money will turn to dust.
they can only hope US tax money will hold it up. If not, a lot of sinkies will have nothing when they retired. (well not nothing, but very little, due to inflation)
we will know in a few months time. whether ho ching is hero or zero.
Updated: 15th September 2008, 1941 hrs
Temasek to be unscathed by Merrill's sale
Sources say Temasek Holdings had little say in Merrill Lynch's surprise decision to be sold to Bank of America, despite being Merrill's biggest single investor.
But they add that Temasek may emerge from the crisis relatively unscathed.
One source who was familiar with the matter told Dow Jones Newswires that Temasek was not informed of Merrill's plans until late and then had a minimum role in the talks with B-O-A, as it doesn't hold a seat on Merrill's board.
B-O-A has agreed to buy Merrill for 50 billion US dollars, or 29 US dollars a share, in an-all stock transaction.
Today, BOA's price closed at $26.50. I believe the deal was 1 share of MER for 0.859 of BOA. The $29 figure was quoted based on BOA's closing price on Friday of $33.
Which means Temasek is sitting on a paper loss right now. Great job Ho Ching!!
If you start calling names, wouldn't you be like them too?.Some of us have been with MM, from the time of the referendum, past when we were SINGAPORE!....
What wrong in calling them names?.
Maybe you don't know the story about the Duchess & the Pig.
A man was haul to court for calling the Duchess a Pig, and was fined for insulting the Duchess. Before leaving the chambers, her asked the learned judge, can I name my pig "Duchess"?, the judge says, "why not!". He turned to the Duchess and said "Good day, Duchess".
Can we call you "Duchess"?
What is a a name calling!, so you start!, you are no different from the rest of the name callers!...you are human, aren't you?
Let's see. The insatiable greed in your owner and her Familee's need to pay Uncle Sam protection money would make her decide to push her luck. Thus instead of cashing it out, she would stupidly exchange for BOA shares and results in her losing everything including her undies as BOA share price drops? Btw, her net loss is in the order of tens of billions, right?
The $1b Temasek makes from the sale of Merrill is hardly enough to cover GIC's losses in UBS & Citygroup.
Citygroup may also go under.
Except that they did not make $1 billion. That figure was a paper gain based on the closing price of BOA on Friday. They are sitting on a paper loss today.
So in your view there is nothing wrong with calling MM names but everything wrong with calling the MONGREL who bit his masters' hands LOUDHAILER chee soon juan what is he - a MONGREL who bit his masters' hands???
Similar threads
