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Temasek Holdings
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teeth53
Supreme |
06-May-2008 19:38
Yells: "don't learn through life, learn to grow with life " |
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How much have invest in?, how much have lost?. short term not for Temasek, only for long, long term The bank warned investors last month to expect net losses of 12 billion Swiss francs ($11.42 billion) for the first three months of the year after writing down about $19 billion on U.S. real estate and related credit positions in the period. |
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tanglinboy
Elite |
06-May-2008 16:19
Yells: "hello!" |
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Swiss bank UBS reports 1Q net loss of $11 billion
Swiss bank UBS reports first-quarter net loss of $11 billion, cuts 5,500 jobs
NEW YORK (Associated Press) - Swiss bank UBS AG announced Tuesday it
would cut 5,500 jobs and reported a net loss of 11.5 billion Swiss
francs ($10.97 billion) for the first quarter of this year. This compares with a net profit of 3 billion francs in the same period last year. The losses translate to 5.63 francs ($5.35) per share, compared with earnings per share of 1.43 francs in the first quarter of 2007. The bank warned investors last month to expect net losses of 12 billion Swiss francs ($11.42 billion) for the first three months of the year after writing down about $19 billion on U.S. real estate and related credit positions in the period. Switzerland's largest bank said it will cut 2,600 jobs in its investment banking arm _ blamed for the majority of failures that led to a record writedowns of $37.4 billion since last summer. A further 2,900 jobs will be slashed in other parts of the business, bringing the total number of job cuts by mid-2009 to 5,500. UBS has been struggling to regain investor confidence since posting a series of heavy losses that prompted shareholders to demand radical action to turn the business around. Last month, shareholders approved the appointment of a new chairman and a capital increase of 15 billion francs ($14.9 billion) in the hope of turning the page on the bank's historic loss. It was the second capital hike after UBS raised 13 billion francs from two foreign sovereign wealth funds earlier this year. On Tuesday, UBS said it has reduced its exposure to subprime-related assets by 60 percent since the third quarter of last year."We can see tangible effects as a result of our initial responses to the losses," CEO Marcel Rohner said in a statement. "While our exposure is still subject to swings in market conditions, we see market demand for these securities returning in certain areas and at the current level of valuations." 
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Pinnacle
Master |
29-Nov-2007 09:53
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Temasek sells CCB shares for US$255m. Temasek Holdings sold US$255 million worth of shares in China Construction Bank (CCB) in the second big share sell-down in a Chinese bank this week. 'This is part of our rebalancing of portfolio' strategy, a Temasek spokeswoman said, confirming the block trade. Temasek's Fullerton Asia Financial Holdings Pte Ltd sold 280 million shares in Beijing-controlled CCB at HK$7.09 each, a discount of 5% to their HK$7.46 closing price in Hong Kong, in a deal handled by Morgan Stanley. The deal follows Temasek's sale on Monday of a US$571.5 million stake in Bank of China, and represents just 2% of Temasek's holding in CCB, where it is the second-biggest foreign shareholder after Bank of America. |
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