Josephine Teo: GIC, Temasek won't take more risks

[Throttle2]

33 minutes ago, inlinesix said:

If you can accept the downside, why not?

I dont accept the person behind the brand

[mersaylee]

1 hour ago, inlinesix said:

If you can accept the downside, why not?

I hope that's not the mindset behind every bad judgement then cum out with shixty lame rooster talk like simi LJ...i mean LanSai was misplaced...😅

[inlinesix]

1 hour ago, Kyrios said:

Got so much cash to provide handouts which they beat the drum so loud to ownself praise ownself..why dun they use these handout sums to backfill any deficit if any..

神也是他, 鬼也是他...knn

Those handout was out of higher than expected revenue.

Since excess goes into Reserves, someone will say we raid reserves 

[inlinesix]

40 minutes ago, mersaylee said:

I hope that's not the mindset behind every bad judgement then cum out with shixty lame rooster talk like simi LJ...i mean LanSai was misplaced...😅

Those losses likely don’t make a dent on Temasek P&L

[Khng8]

@Kyrios after caning you, give you a hug to sayang you. Do you feel the ❤️?😂

[Sdf4786k]

On 11/26/2022 at 2:16 AM, Shibadog said:

it's all part of a broadly diversified investment portfolio.

Honestly this $200mil+ write off is just a small small % of their assets under management. But for a SWF, higher standards are usually expected. 

That’s what I tell my wife when I buy toto… not in so many words but yes same same but different 

Edited November 28, 2022 by Sdf4786k

[Spidey10]

On 11/26/2022 at 4:22 PM, inlinesix said:

Those losses likely don’t make a dent on Temasek P&L

still a lot of dough leh.....in my few lifetime (probably a few lifetime), probably won't even smell the amount that is lost here!!! 

could have use the maney to help the poor....

[Spidey10]

On 11/26/2022 at 8:32 AM, mersaylee said:

She might say...FTX occupied a very small space in their entire portfolio...😁

i wonder what the reaction would be if the losses were incurred by someone else.....probably screaming for blood...

[Spidey10]

On 11/26/2022 at 11:43 AM, inlinesix said:

This $200m write-off will not impact Temasek profitability

200m ler....still $$....our maney.....got blood, sweat and tears one hor....

$200.00 can still forgive.....$200Mil!!!! ....i think head should roll!! Got head roll boh?

[SGMCF328]

Oh no Temasek again! In before some nasty comment on C**A

Adani abandons US$2.5 billion share sale in big setback to Indian tycoon

Source: https://www.channelnewsasia.com/asia/india-adani-enterprises-call-share-sale-market-conditions-rout-stocks-hindenburg-research-report-3247661

NEW DELHI: Gautam Adani's flagship firm called off its US$2.5 billion share sale in a dramatic reversal on Wednesday (Feb 1) as a rout sparked by a US short-seller's criticisms wiped billions more off the value of the Indian tycoon's stocks.

The withdrawal of the Adani Enterprises share offering marks a stunning setback for Adani, the school dropout-turned-billionaire whose fortunes rose rapidly in recent years in line with the stock values of his businesses.

"Today the market has been unprecedented, and our stock price has fluctuated over the course of the day. Given these extraordinary circumstances, the company’s board felt that going ahead with the issue will not be morally correct," Adani said.

"Our balance sheet is very healthy with strong cashflows and secure assets, and we have an impeccable track record of servicing our debt. This decision will not have any impact on our existing operations and future plans," the billionaire added in a statement to Indian exchanges.

Adani, whose global business interests span ports, airports, mining, cement and power, is battling to stabilise his companies and defend his reputation.

"Once the market stabilises, we will review our capital market strategy," he added.

The Jan 24 report has triggered an US$86 billion erosion in market capitalisation of seven listed Adani Group companies. On Wednesday, a day after Adani's share sale closed, his group company stocks plummeted, with shares in Adani Enterprises plunging 28 per cent and others also seeing sharp cuts.

 

Adani crisis: Who is Gautam Adani and what are his Singapore connections?

Source: https://www.straitstimes.com/business/companies-markets/adani-crisis-who-is-gautam-adani-and-what-are-his-singapore-connections

SINGAPORE - Asia’s richest man Gautam Adani hogged the headlines last week after a US short seller on Jan 24 accused the Adani Group, the conglomerate he controls, of “brazen stock manipulation and accounting fraud” over the course of decades, erasing more than US$50 billion (S$65.6 billion) in market value from Mr Adani’s business empire.

The allegations were made by Hindenburg Research, a small New York-based forensics research firm, which took a short position in Adani Group through US-traded bonds and non-Indian-traded derivative instruments, it said.

The Adani Group has dismissed the report as brazen, malicious and baseless, and said it was exploring legal action. It added that the Hindenburg report was timed to damage an upcoming US$2.5 billion share sale by its flagship, Adani Enterprises. The company also denied reports it was mulling over delaying or cutting the price of the share sale.

The market rout has personally cost Mr Adani in excess of US$20 billion, or about one-fifth of his total fortune of around US$100 billion, according to the Bloomberg Billionaires Index.

Last October, the media reported that Mr Adani was in early discussions with investors that included Singapore investment firm Temasek and sovereign wealth fund GIC to raise at least US$10 billion to fund its expansion into clean energy, ports and cement businesses.

When contacted by The Straits Times, a spokesman for Temasek said it does not comment on market speculation. The spokesman confirmed that Temasek “remains invested in Adani Ports, as per their latest public shareholding disclosures”.

Temasek, through its subsidiary Camas Investments, owns a small stake of just over 1.2 per cent in Adani Ports and Special Economic Zone, according to the company’s shareholder information. The stake was acquired in 2018 for around $147 million.

GIC did not respond to ST queries.

[Spidey10]

another total write off of $147 mil for Temasek? or get back some small change....sup sup water again...

[Throttle2]

Here throw a few hundred million 

there throw a few hundred million

song ah

[Jellandross]

After failed American dream now kena....

 

[jcmm]

5 hours ago, Spidey10 said:

another total write off of $147 mil for Temasek? or get back some small change....sup sup water again...

US$422 mils also no need to worry, what is 147 mils?  

[Spidey10]

13 hours ago, jcmm said:

US$422 mils also no need to worry, what is 147 mils?  

yeah....no worries, no worries....not enuff can raise GST to 12%....kaw tim...

somemore, own self check own self.....everything will be ok...

[SGMCF328]

The woes continue. As usual, Temasek is quiet like a church mouse. Heh, all the losses came from our CPF and taxes leh!!

I just hope that neither Temasek nor GIC signed any agreement with Adani during last October discussion (as shared in my previous post).

 

Adani's market losses top US$100 billion as crisis shockwaves spread

Source: https://www.channelnewsasia.com/business/india-adani-market-losses-worries-shockwave-hindenburg-research-report-3250456

NEW DELHI: Adani's market losses swelled above US$100 billion on Thursday (Feb 2), sparking worries about a potential systemic impact a day after the Indian group's flagship firm abandoned its US$2.5 billion stock offering.

Another challenge for Adani on Thursday came when S&P Dow Jones Indices said that it would remove Adani Enterprises from widely used sustainability indices, effective Feb 7, which would make the shares less appealing to sustainability-minded funds.

In addition, India's National Stock Exchange said that it had placed on additional surveillance shares of Adani Enterprises, Adani Ports and Ambuja Cements.

However, Adani Group chairman Gautam Adani is in talks with lenders to prepay and release pledged shares as he seeks to restore confidence in the financial health of his conglomerate, Bloomberg News reported on Thursday.

The shock withdrawal of Adani Enterprises' share sale marks a dramatic setback for founder Adani, the school-dropout-turned-billionaire whose fortunes rose rapidly in recent years but have plunged in just a week after a critical research report by United States-based short-seller Hindenburg Research.

Aborting the share sale sent shockwaves across markets, politics and business. Adani stocks plunged, opposition lawmakers called for a wider probe and India's central bank sprang into action to check on the exposure of banks to the group. Meanwhile, Citigroup's wealth unit stopped making margin loans to clients against Adani Group securities.

The crisis marks an dramatic turn of fortune for Adani, who has in recent years forged partnerships with foreign giants such as France's TotalEnergies and attracted investors such as Abu Dhabi's International Holding Company as he pursues a global expansion stretching from ports to the power sector.

"Adani may have started a confidence crisis in Indian shares and that could have broader market implications," said Ipek Ozkardeskaya, senior market analyst at Swissquote Bank.

Adani Enterprises shares tumbled 27 per cent on Thursday, closing at their lowest level since March 2022.

Other group companies also lost further ground, with 10 per cent losses at Adani Total Gas, Adani Green Energy and Adani Transmission, while Adani Ports and Special Economic Zone shed nearly 7 per cent.

Since Hindenburg's report on Jan 24, group companies have lost nearly half their combined market value. Adani Enterprises - described as an incubator of Adani's businesses - has lost US$26 billion in market capitalisation.

[Blueray]

[mersaylee]

Take no more risks...but take more losses in its stride siboh? 😅