Monday, January 11, 2010

GIC confirmed lost of $800 million

From: baldeagle
Subject: Re: GIC confirmed lost $800 million ... Soon there will be no need for GIC
On Jan 11, 10:36 pm, "truth" wrote:

The Chairman and board of directors of GIC have
performed very poorly...losing huge sum from our national

When will they resign ?

If they do not resign, they will lose all our national wealth ..
then it will be too late. No need for GIC.

Mon, Jan 11, 2010
The Straits Times
By Robin Chan

THE Government of Singapore Investment Corporation (GIC) has confirmed
that it incurred losses from an investment in a prime New York
property project after the American owners defaulted on a debt payment
at the weekend.

GIC is believed to have written off over US$575 million (S$798
million) and it confirmed to The Straits Times that it 'recognised the
losses' on its investment last year in Manhattan's Stuyvesant Town and
Peter Cooper Village, two enormous housing apartment blocks bought for
US$5.4 billion.

When will the Chairman and board of directors of GIC resign.

I am sure, they are no good as cleaners and maids.
The Banglahesdsi and Filipino can do a much
better job than them, .....they are old and useless.

This is not a very nice thing to say about old
people...but unfortunately it is true.

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