#shorts, 6 Asian Myths That Aren’t True (Based on Science! By The Maritime Executive 12-24-2020 06:14:00 2020 was a year for the record books. In fiscal 2020, that contribution is expected to be S$18.6 billion (US$12.8 billion). The dotted pink line provides the simulated Group net profit to include unrealised gains or losses of our sub-20% investments in a simple way. Whopping 72.6 per cent of S’poreans spending New Year’s Eve at home alone or... 2020 in Review: From elections in a COVID-19 world to the regional rise of... Hong Kong media tycoon Jimmy Lai ordered back to jail, Tokyo tops 1,000 daily virus cases with new emergency warning, MOH preliminary confirms 30 new cases of COVID-19; Total tally at 58,599, China confirms first case of UK coronavirus variant, China’s first vaccine hustled to market as race to inoculate 1.3bn speeds up, 42-year-old woman apprehended under Mental Health Act after walking naked in Bedok, Finance Minister Heng Swee Keat to deliver S’pore Budget 2021 statement on 16 February, S’pore vaccinates first batch of healthcare workers at NCID. Singapore's Temasek Holdings is terminating its $3 billion conditional offer for conglomerate Keppel Corp by invoking a material adverse change (MAC) clause following the company's poor financial results. Temasek is due to release its annual report for the year ended March 31, 2020 in a few months. Lest you think I’m pulling this number out of my behind, this was done by a Bloomberg analysis. On 27 August 2019, Temasek Review published an article titled “Bloomberg: Singapore in bad debts”.. Relying primarily on a Bloomberg article published on the same date (see here), the article made a number of allegations directed primarily at Singapore’s sovereign wealth funds, Temasek Holdings and the Government Investment Corporation (GIC).. It that's the case, it should have realised additional loss in the US$700m ballpark figure. It’s why Temasek employees froze their salary. The firm’s portfolio value even rose by 3% in January. “In 2013 the company revised its annual reports for 2010, 2011 & 2012 due to change in accounting statements at its subsidiary SouthGobi. Yep. The StanChart investment is overseen by Temasek president Gregory Curl and head of financial institutions Png Chin Yee. Or maybe you don’t quite give a hoot because S$34 billion is a number that’s too big for most people to put into perspective how big it really is. The root cause for this is the virus anyway, so logically speaking if we focus on solving the COVID-19 issue, everything will turn back to normal. To put things into perspective, as of 31 March 2019, the net portfolio value was S$313 billion, up 1.6% from the previous year. “This was the background when Temasek invested into Turquoise Hills in 2012. It is going for phase II which is underground mining.”. KFC Bringing Back Fried Chicken Skin With a New Flavour in a Showdown Against... SIA Pilot Who Has COVID-19 Could Have New UK Coronavirus Strain, budget for 2020 is projected to be in a deficit of S$10.9 billion. (Photo: REUTERS/Edgar Su) 0 0 0. You shouldn’t be worrying about how much your house can sell for if it’s burning right now. Turquoise Hills' SEC 2020 filing does not show Temasek as a major shareholder. Temasek Investor Presentation 2020. Total Views: 46 . “ [If] that’s the case, it should have realised additional loss in the US$700m ballpark figure. S’pore No Longer Isolating All COVID-19 Patients in Hospitals & It’s Actually a Smart Move, Here’s Why So Many S’poreans Are Getting Infected in the UK: It Was a ‘Stupid Error’, Minister Explains Why It’s Still Not a Lockdown & Why Schools Are Still Open Despite New Measures, Ultimate List of Progressive Measures Made by S’pore Since the First COVID-19 Case to Now. On Wednesday (23 Sept), the blogger published an article titled “Temasek Tracking – Turquoise Hills, possibly US$1.1b lost in mining gamble”, revealing how the Government-owned company ends up in losses due to its investment on the mining company. The blogger went on to explain that Oyu Tolgoi coal mine started operation in 2008, but its operation was curtailed in 2012 due to adverse market condition. The new strain, which experts... China has granted "conditional" market approval to a Sinopharm vaccine with a reported 79 percent efficacy rate against Covid-19, health authorities said Thursday, a... A 42-year-old woman was apprehended by police after she was spotted walking naked around Bedok on Tuesday morning (29 December). In 2012, miner Rio Tinto boosted its stake in Ivanhoe Mines to 51 per cent, from 49 per cent. Temasek drops S$4.1 billion bid for Keppel after conglomerate reports steep loss File photo of Keppel building in Singapore on May 24, 2018. SINGAPORE -- Singapore's state-owned investment company Temasek Holdings Pte. But with commitment, resilience and by working together, we will come through it. Keppel, whose businesses range from property development to rig-building, swung to a net loss … Although Temasek was not listed as a major shareholder in the Turquoise Hills’ SEC Filling 2020, Pat Low noted that the balance shares might have been “disposed”. The property market in China (~50% of Keppel Corp’s property valuation) is seeing encouraging signs of a pickup in property sales with selling prices similar to pre-COVID level. ... Temasek abandons $3 billion bid for Keppel after conglomerate's loss FILE PHOTO: A Temasek logo is seen at the annual Temasek Review in Singapore. It is considered the worlds largest copper and gold deposits. It is possible the balance shares have already been disposed. Ivanhoe’s negotiations with the Mongolian Government took “an arduous journey” as it involved issues like corruption, social, political, environmental impacts, power supply and the financing worth US$6 billion for phase 1, said Pat Low. Kyanite Investment Holdings, a unit of Singapore state-backed investor Temasek Holdings Pte, scrapped its bid to take control of Keppel Corp. after the oil-rig builder posted a second-quarter loss. Keppel Corporation - Temasek Partial Offer – Deal Or No Deal? Which sounds really bad, because our budget for 2020 is projected to be in a deficit of S$10.9 billion, the highest in a decade. Therefore, it does not make sense for Temasek to acquire Keppel Corp at premium price before COVID-19 crisis. Our portfolio is S$306 billion and is focused primarily in Asia and Singapore. Current Assets for Temasek is $417,351,000,000 and SWFI has 96 periods of historical assets, 120 subsidiaries, 1,244 transactions, 14 Opportunities/RFPs, 148 personal contacts available for CSV Export. ... “But now is not the time to think about whether you’ve made a loss or not. Temasek’s total shareholder return was -2.3% and its net portfolio value fell to S$306 billion in … I mean, it’s not like the virus means those big companies suddenly go bankrupt right? After seeing its returns fall into the red in the first quarter of 2020 – it revealed a 2.28% loss on shareholder returns and a S$7 billion ($5.23 billion) drop in assets for the financial year ending in March – it doubled down on innovative sectors such as life sciences and technology, said Wu Yibing, head of China at the Singapore holdings company. Temasek is due to release its annual report for the year ended March 31, 2020 in a few months. Each year, our gahmen‘s budget is partly funded by a net investment return contribution, which is based on returns from Temasek, sovereign wealth fund GIC, and the Monetary Authority of Singapore. Financial Post reported on 24 January 2012 that Ivanhoe and Rio first partnered in October 2006, as Ivanhoe needed help in terms of capital and local political support to develop Oyu Tolgoi copper-gold project. 2020 COTY: Meet this year's Company Of The Year. But uh… what does this have to do with us ordinary poor folks with no money and no stocks? Pat Low indicated Rio’s major stakes in Ivanhoe had caused some changes in the mining company, such as Ivanhoe changed its name to Turquoise Hills and the divestments of the Ovoot Tolgoi coal mine. As such, Turquoise Hills was left with Oyu Tolgoi mines as its primary operation. Temasek's net portfolio value fell to 306 billion Singapore dollars ($223.73 billion) for the financial year that ended March 31. That means our gahmen need to tap into reserves to help its people and businesses that are bleeding from the impact of the virus. Pacific International Lines (PIL) remains in the red, with a net loss that nearly doubled to US$120 million for the first half of 2020. Before all these apocalypse talks started, Temasek was actually doing pretty well despite things like the US-China trade war. “Note the Ivanhoe Mines currently listed on the stock exchange is another metal company which later took over this name,” he added. Last October, Temasek offered to increase its one-fifth stake in Keppel to 51%. But for the full picture, I guess we have to wait until Temasek release their annual report ending 31 March 2020 in a few months time. After reading that headline you might be in a state of panic. Kyanite Investment Holdings, a unit of Singapore state-backed investor Temasek Holdings Pte, scrapped its bid to take control of Keppel Corp. after the oil-rig builder posted a second-quarter loss. And sis, of course. We also get your email address to automatically create an account for you in our website. And the top 12 biggest holdings that were worth US$73.8 billion on 2 Jan 2020 dropped to US$50.3 billion on 20 March. Temasek invests in about 40 global stocks, the largest investment by market capitalization is in Singtel (52% shareholding), jewel in the crown. And in the fiscal year 2020, that contribution was expected to be S$18.6 billion. Today’s world is volatile and uncertain. This makes the total realised loss of … Pat Low also shows Temasek’s investment and divestments in the article, which was based on valuation shown in SEC Filling. The mining company then developed interests in the Oyu Tolgoi copper-gold mine development project, said Pat Low. It is a company with tremendous wealth still locked underground. Temasek owns shares like Alibaba and Singapore Airlines, and then also some like Thai mobile phone operator Advanced Info Service (that is part-owned by Singtel). KEPPEL Corporation surpassed even the worst forecasts to post a record quarterly loss of S$697 million, breaching certain conditions for Temasek Holdings' S$4 billion pre-conditional partial offer for the conglomerate. And the top 12 biggest holdings that were worth US$73.8 billion on 2 Jan 2020 dropped to US$50.3 billion on 20 March. The company lost $254m in 2018, and racked up net losses of $795m in 2019, which it attributed mainly to one-off impairment losses of $590m. “Turquoise Hills’ inability to move forward and produce results bear heavily on its share price. This brings the total... China has confirmed its first case of a new coronavirus variant that was recently detected in Britain, health officials said. / Image: threadbombing.com, Temasek Holdings Chairman Lim Boon Heng spoke at a community event and said, “It’s pretty obvious with the way stock markets are behaving recently that we should expect the returns to be down. Pat Low described himself as a “Merdeka generation NSman” who only blogs “for the fun of it”. That’s President Halimah Yacob’s. Read more at The Business Times. 26 of them are import cases, including one Singapore Airline... How to Use “Ok Boomer” in an Office #shorts. Currently, it is at risk of being delisted as its price has fallen below US$1.00.”. The blogger explained that Rio had to write off about US$1 billion impairment on their investment and was facing investor revolt in the handling of the Oyu Tolgoi project. They still need to operate, and if the virus goes away they have to resume operations. Keppel Corporation - DBS Research 2020-04-30: A Step Closer To Temasek’s Partial Offer. The dark purple dots of 2020 and 2019 audited data include unrealised gains or losses of our sub-20% investments, based on the IFRS 9 accounting standard. Basics: Temasek makes S$4.1 billion bid to take control of Keppel Corp. Market Screener reported in 2012 that Temasek Holdings has acquired a 5.5 per cent stake and bought 40.86 million shares in Ivanhoe Mines, which is controlled by Rio Tinto PLC (RIO). 2020 COTY: Meet this year's Company Of The Year. The major events of 2020 marked a tumultuous finish to a decade — most notably seen in the coronavirus pandemic... Hong Kong pro-democracy media tycoon Jimmy Lai was ordered back to jail Thursday as the city's highest court granted prosecutors an appeal against his... Tokyo reported over 1,000 new coronavirus infections on Thursday, a new record, as local and government officials warned that a state of emergency might... As of Thursday (31 December), 12 pm, the Ministry of Health (MOH) has preliminarily confirmed 30 new cases of COVID-19 infection. Their biggest share, Singtel, dropped US$7.4 billion, followed by DBS, down US$5.3 billion, then Singapore Airlines, by US$1.7 billion. Temasek India head Ravi Lambah who is based in Singapore, recently gave an interview to Indian media Business Today, which was published 2 weeks ago (‘Growth not a concern; India fits well in our long-term plan: Temasek India head‘, 27 Oct). Temasek’s $3 Billion Bid for Keppel at Risk as Conglomerate Reports Big Loss. A Singaporean blogger Pat Low, who runs the blog “Chempost: Going down the rabbit hole”, shares how Temasek Holdings “possibly US$1.1b [billion] lost in mining gamble” following its investment into Canadian mining company, Turquoise Hills, in 2012. This makes the total realised loss of … In 2010 the reserves were placed at 81.3 billion pounds for copper and 46.4 million ounces for gold,” he wrote. When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. S’porean blogger reveals Temasek’s possible loss worth US$1.1 billion in mining gamble, “Temasek Tracking – Turquoise Hills, possibly US$1.1b lost in mining gamble”, Parti Liyani’s case highlights the need for a COI on police investigation procedures as a whole – The last thing we want is for the Police to have a reputation of bullying double standards, SG Climate Rally launches public visioning campaign to encourage members of public to share their ideas for a more sustainable Singapore, New energy company Enel X’s virtual power plant to support Singapore’s energy market, ESR successfully lists ESR Kendall Square REIT on Korea Exchange, Declining public trust in institutions, evolving work dynamics and rising digitalisation among key 2020 trends predicted to shape 2021: Blackbox Research. “SEC filing show as at 14 Jan 2019 balance of share was 100,254,432. Based on the About section of his blog, he had spent a major part of his career in the banking industry and eventually became a channel partner of an electricity retailer after retirement. Our portfolio is S$306 billion and is focused primarily in Asia and Singapore. July 31, 2020 ... 2H 2020 will probably remain very challenging,” Loh said. Singaporean state investment company Temasek revealed a 2.28% loss on shareholder returns and a S$7 billion drop in assets for the year to the end of March, its first since the 2015-2016 financial year, as the asset owner suffered from the impact of value drops on assets in its portfolio amid the nadir of the Covid-19 pandemic’s impact on markets. This makes the total realised loss of the investment at about US$1.1b.”, He continued, “If the balance of 100,254,432 shares are still in Temasek’s books, the unrealised loss as of to date is about US$697m.”. 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