"I see Ho Ching as a victim in this case for her bad decision on the investment that lost big time, especially the investment in US. I see her investment is not an individual decision but a group's decision" (then group will have to take responsible who has d most say and most powerful voice will have to be responsible and account for...) (which does not include the finance ministry). In the investment climate, every countries are losing big time (Yes agree with U...do we need to losing big as well...Answer is we do not have to...). Big companies are closing down or swallowed up in preparation for the next player to come into the mkt (we don't have so many big ships like in US..eg; Lehman Bro, Merrill Lynch, CITI, BoA, AIG and many others who can effort to suck up US 50 billiob lost). Billions of dollars were swept away from the table. I don't see how Singapore will survive this onslaught even Temp Temp was headed by someone else (we will..when there's will, there's a way, we''ll see some light end of 2009). She being the PM's wife has her advantage and disadvantage.

Latest to note: Euro zone suffers record 4th-Quarter contraction. Gross domestic product (GDP) shrank by 1.5% instead of 1.3% drop, statistics office Eurotat said. England & Germany is offically in recession, France, Italy, Dutch...others in EU, 16 nations suffer too, said Mr Carsten at ING Financial Markets of Germany figures. Recovery is it truest sense of the word will materialise only in 2010.

Mrs Lim explained GIC and Tamasick investment in "dangerous asset classes" was not sudden move but slowly evolving strategy, (why defended when several months ago matured minister boosted so much in news ST paper, got chances must invest...teeth53 thot red flag is planted what.?.)

Since then., the one who was instrumental in bringing in Ho Ching and based purely on merit is equally and fully responsible, is still vey much comfortable headed Tamasick....heading for sick bed.

Mind U before that Tamasek Holding is in very healthy position and after that..is so different now,

one who has choosen must equally responsible and account for it....... 

1st credit issue, then credit squeeze, next credit crunches, what next ?, credit melt
From day one, even since....and losses amounted to........ZZZzzz...under this or not Mrs Lim

"Whether this is a way of making a change of someone
who is related to the prime minister, this has been a
point that I've dealt with since the first day Ho
Ching was appointed as CEO. I was very instrumental in
bringing in Ho Ching and it was based purely on merit
and has nothing to do with her relationship to
anyone," he said.

We do not had to lost so much...Understand or not....Mrs Lim... LOST S$190billion to S$200 billion

So it took the Senior Minister of State for finance. Mrs Lim Hwee Hua to defend GIC and Tamsick

Those responsible few who are still very, very Senior or very matured minister has collected several million of Sing$ dollar in salary very years after years(Minister salary) after lossing not only S$58 billion, but to a tune of (estimated) to be S$190billion to S$200 billion in losses...SAD and the Chairman still around, through CEO has step down.

BACK on TRACK....What this.???...by Mrs Lim Hwee Hua

As for the Government Investment Corporation of
Singapore (GIC), the investment analyst said it would
also lose more than a third of the value of its
investment portfolio.

"GIC started the crisis with roughly Singapore $550
billion in reserves. My (her) estimate is that it has lost
about S$190-S$200 billion of that, leaving it with about
$350 billion left. This amount is equivalent to 200
per cent of Singapore's gross domestic product," he
added.
"So both have lost money but their performance has not
been out of line with other large funds, possibly a
bit better (what is a bit better then to compare with the worst..?) These are all worst-case estimates."

There is HOPE...with job credit, but but.....let minister Tharman know 1st and get Heath minister to nurse it back to good health...Ya.

teeth53 thot so....hmm...Just a reminder been. we r at stage four liao...Ya

teeth53      ( Date: 21-Oct-2008 16:30) Posted:

Just for sharing info..recalling since...is there a stage five...Ans is Yes and no..Ya Posted:20Aug2007   lower interest rate and so on....to ride out over this dark cloud hanging all over this world is trying to bufff & trying to ensure ppl's all over that this storm will blow over.come on, of course we will, not before riding into stage 3. We are facing at the word, confident right in our face and in our sub-conscious mind. scary 1st credit issue, then credit squeeze, next credit crunches, what next ?, credit melt....... Cash is king....Hmm

teeth53 thot so: Well, well in other word....

See monkeys do, act monkeys goes, so are we....Err...MNC and SMEs can also now more or less reporting their style of Profit & Lost (P&L) into...overall value's delline less than other of our Bro n Sis companies, so, so call reported company R better off...Ya. Like that oso can...We'll be half dead liao, as we has to be contented with an estimated 100,000 of jobless, of which 1/3 fall below 30 year

GIC, Temasek's overall value's decline less than that of global market's, so we R better off..Ya
Temasek reports the market value of its portfolio in the annual Temasek Review. GIC now reports its long term returns on a moving average basis, which will be updated in the next annual GIC Report.

GISick and Temasick can model after JP Morgan way, to invest...JP Morgan way.

http://www.forbes.com/2008/03/16/bear-fed-update-markets-equity-cx_lm_mm_0316markets02.html?partner=sph

JPMorgan was raiding its petty cash to buy Bear. Following an astonishing weekend of activity in the United States. Bear Stearns will be bought for a song by JPMorgan Chase, a result of its mortgage-related problems, bought the firm on Sunday at fire-sale price of $2 a share, or $236.2mil.

We are raiding our golden reserve to buy out (part of / partially) trouble angmo bankers bank, our deputy GIsick chief can say we do this for long term, Wrong foot, wrong time and wrong strategies, so resulted we has to dig into our reserve as well to serve out our remain prolong recession period.

Oni reason, very long term. Who don't know that, tell that to the kids...meanwhile enknowledge is not forthcoming that S$ got stuck, at least it has declared Temasick has a paper lost of S$2 billion. It mean next cycle can come oni in about 12 -15 years..., getting caught on the wrong foot on investment timing strategies with so..much people's citizen $$$ mean our mass will has to take what is been offered. Cut cost to save jobs rather then cut jobs to save cost

teeth53 has all along telling them JP Morgan way.....Hmm..ZZZzzz still has't fully wake up yet. 

Bro, u right on d spot loh. AK kena washed liao, on SPC n GAR.