PAP lower its standard

From: "truth"
Date: Thu, 28 May 2009 08:20:58 GMT
Local: Thurs, May 28 2009 4:20 pm
Subject: Such low pap standard

After losing $58 billion, Temasek is still considered to be
doing well. That is the assessment of the finance minister
Tharman.
What fucking low standard these pap multi$million nincompoops
set for each others.
That is why the core is rotten and will only get worst if they
continue to lower their own standard in order to make themselves
appeared to be doing a good job.
http://www.channelnewsasia.com/stories/singaporelocalnews/view/432341...

SINGAPORE: Finance Minister Tharman Shanmugaratnam has said it is not
realistic to expect Temasek Holdings to outperform in every cycle or to
avoid losses on every individual investment, or its overall portfolio when
the markets go through sharp corrections.

Speaking in Parliament in response to MPs questions on Temasek's sale of its
Bank of America (BoA) shares, Mr Tharman said Temasek saw a S$58b decline in
value between March and November 2008.

But this was after a much greater gain of S$114b in its investment portfolio
over the preceding five years, from the time the market cycle began in 2003.

He told the House that even after taking into account the recent sharp
market declines, Temasek's portfolio had in fact grown by S$56b based solely
on returns from investments made.

The Finance Minister described Temasek as a long-term investor, and stressed
that that by being so, did not require Temasek to be locked into every
individual investment, regardless of major changes in the environment or a
new investment proposition.

He told Parliament that Temasek has performed respectably compared to any
relevant market indices, and even other reputable institutional investors
with its total shareholder returns of an average of over 15% per year.

Mr Tharman added that Temasek has operated successfully over the last six
years, and it will continue to keep to its discipline, maintain a
diversified portfolio, and keep its sights on achieving long term returns.


From: "kingkong"
Date: Thu, 28 May 2009 17:33:03 +0800
Local: Thurs, May 28 2009 5:33 pm
Subject: Re: Such low pap standard

Stock markets worldwide are already up 40% since Nov 2008, so.....the
question Singaporean should be asking is have Temasek Holdings made some
money back ? Or are they still losing billion ?

Stockmarket will rally another 10% from now til year end.