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Sakae Holdings founder Douglas Foo selling bungalow for $16.13m http://www.asiaone.com/business/sakae-holdings-founder-douglas-foo-selling-bungalow-1613m?xtor=EREC-16-4[Emarsys_Newsletter]-20181107&extid=6934d0cfb7b252f1ae9f0dbddf5ff88ca8637e77 Sakae Holdings executive chairman and founder Douglas Foo is understood to be selling a bungalow in Cassia Drive in District 11 for nearly S$16.13 million. The price works out to S$1,542 per square foot based on the freehold land area of 10,458 sq ft. Located in the Raffles Park Good Class Bungalow (GCB) Area, the two-storey property is on a squarish plot. Mr Foo has been in the news recently after Sakae Holdings lost US$4.3 million selling sugar to a disappearing customer. The sugar sale had been invoiced in December last year and remained unpaid for months before Deloitte, Sakae's auditor, flagged the issue to the board on Aug 27. Mr Foo has a direct and deemed interest in 65.91 per cent of Sakae Holdings. The Cassia Drive bungalow which Mr Foo and his wife are selling is an investment property; they live elsewhere. Another recent transaction in a GCB Area was along Windsor Park Hill, at S$23.5 million or S$1,068 psf on the sprawling freehold site of about 22,000 sq ft. It is being bought by a member of the Wang family that controls JMD Investment. The Wangs are the paternal relatives of the family of Charles & Keith CEO Charles Wong, according to an earlier article. Meanwhile, fashionista Pek Lay Peng, owner of multi-label omnichannel retailing platform SocietyA and executive director of the Shingda Group of Companies founded by her father Pek Ah Leck, has picked up a bungalow along Jalan Kampong Chantek, for S$15.3 million or S$1,372 psf on land area. Standing on an elevated site of about 11,155 sq ft, the property was renovated a few years ago and is understood to have five ensuite bedrooms; the master bedroom has a big walk-in wardrobe and its own lounge/study area. The house also has an infinity pool. It is currently tenanted. Along Bishopsgate in the Chatsworth Park GCB Area, a bungalow is transacting for nearly S$27.89 million or S$1,849 psf on land area of 15,085 sq ft. It had been jointly owned by Liu Cheng Chan, the founder of Parakou Shipping who died last year, and his wife Chik Sau Kam. Spanning two levels, an attic and a basement, the house has seven ensuite bedrooms, a family entertainment room and a lap pool. The buyer is involved in a host of businesses including tea leaves, ship bunkering and passenger ferry services. According to List Sotheby's International Realty's analysis of caveats captured by URA Realis, year to date, 35 deals totalling S$871.4 million have been sealed in GCB Areas. For the whole of last year, there were 42 transactions amounting to S$888.6 million. Market watchers note that in addition to the S$871 million in caveated deals since the start of this year, there have been at least S$215 million in transactions completed in the same period for which caveats were not lodged by buyers. Bungalows in GCB Areas are the most prestigious form of landed housing in Singapore, with strict planning conditions stipulated to safeguard their exclusivity and low-rise character. There are only about 2,500 bungalows in the 39 GCB Areas. William Wong, founder of Realstar Premier, observed that since the second quarter of this year, demand for bungalows in GCB Areas has been very selective. "For those in prime locations such as Tanglin, Cluny and Dalvey, there is still a strong pool of demand from buyers prepared to pay a premium; it takes a shorter period of one to three months typically to move a property that comes on the market. "In comparison it could take six to nine months to find a buyer in locations further away."

http://www.channelnewsasia.com/stories/sin...1186538/1/.html Govt's role relating to Temasek Holdings, GIC clarified Posted: 02 March 2012 1420 hrs SINGAPORE: Minister of State for Finance Josephine Teo on Friday clarified the government's role in relation to the state's sovereign wealth funds. Mrs Teo said the government does not decide how Temasek Holdings and the Government of Singapore Investment Corporation (GIC) manage their portfolios. Mrs Teo said their respective boards and professional management teams are responsible for the decisions. She added the government ensures risks to the whole portfolio are not excessive, by assessing the impact of various adverse global scenarios. Mrs Teo was responding to concerns of overlapping investments among Singapore's sovereign wealth funds. Member of Parliament for Ang Mo Kio Group Representation Constituency (GRC) Inderjit Singh said: "In recent times, they are starting to look very similar and also investing in almost similar assets. "This is not a good trend as we may be over-investing and lack diversification in our investments could come back and haunt us doubly-hard if these sectors are hit by problems." In response, Mrs Teo said: "First and foremost, we ensure that these investment entities have competent boards to oversee how their respective management teams execute their investment mandates. "We also ensure that these entities have proper mandates and objectives. Second, based on the overall risk profile of the government's whole portfolio, we decide how government capital should be allocated." - CNA/wk

Temasek Holdings to pay Indonesia fine By : Date : 18 January 2011 1247 hrs (SST) URL : http://www.channelnewsasia.com/stories/afp...1105381/1/.html SINGAPORE: Singapore's Temasek Holdings said Tuesday it will pay a fine of 15 billion Indonesian rupiah ($1.66 billion) imposed by Indonesia for breaching the country's anti-competition laws. The state investment company decided to pay the fine after Indonesia's Supreme Court rejected its application to review the ruling by a competition watchdog that it had breached rules in the telecoms market, Temasek said. "Temasek is disappointed that its application for civil review has been rejected as it has not contravened Indonesia's anti-monopoly laws," said Goh Yong Siang, senior managing director for strategic relations. "As an international investor, Temasek continues to comply with the laws and regulations of Indonesia in its activities in Indonesia, and will duly follow up to pay the KPPU fine without prejudice to its legal position, and reserves all its rights," he said in a statement. The competition watchdog KPPU ruled in November 2007 that Temasek was guilty of anti-competitive behaviour in Indonesia's cellular phone market by holding stakes in the two biggest domestic mobile phone operators. Last month, the KPPU said it was considering seeking a court injunction to seize Temasek assets equivalent in value to the fine. In addition to the fine, the KPPU ordered Temasek to divest its holdings in either PT Telekomunikasi Selular (Telkomsel) or PT Indosat. Singapore Technologies Telemedia, a wholly-owned unit of Temasek, sold off its interest in PT Indosat to business partner Qatar Telecom in June 2009. Temasek indirectly holds 35 percent of Telkomsel via its 56-percent owned unit Singapore Telecommunications Ltd. (SingTel). -AFP/ac

Temasek Holdings to pay Indonesia fine By : Date : 18 January 2011 1247 hrs (SST) URL : http://www.channelnewsasia.com/stories/afp...1105381/1/.html SINGAPORE: Singapore's Temasek Holdings said Tuesday it will pay a fine of 15 billion Indonesian rupiah ($1.66 billion) imposed by Indonesia for breaching the country's anti-competition laws. The state investment company decided to pay the fine after Indonesia's Supreme Court rejected its application to review the ruling by a competition watchdog that it had breached rules in the telecoms market, Temasek said. "Temasek is disappointed that its application for civil review has been rejected as it has not contravened Indonesia's anti-monopoly laws," said Goh Yong Siang, senior managing director for strategic relations. "As an international investor, Temasek continues to comply with the laws and regulations of Indonesia in its activities in Indonesia, and will duly follow up to pay the KPPU fine without prejudice to its legal position, and reserves all its rights," he said in a statement. The competition watchdog KPPU ruled in November 2007 that Temasek was guilty of anti-competitive behaviour in Indonesia's cellular phone market by holding stakes in the two biggest domestic mobile phone operators. Last month, the KPPU said it was considering seeking a court injunction to seize Temasek assets equivalent in value to the fine. In addition to the fine, the KPPU ordered Temasek to divest its holdings in either PT Telekomunikasi Selular (Telkomsel) or PT Indosat. Singapore Technologies Telemedia, a wholly-owned unit of Temasek, sold off its interest in PT Indosat to business partner Qatar Telecom in June 2009. Temasek indirectly holds 35 percent of Telkomsel via its 56-percent owned unit Singapore Telecommunications Ltd. (SingTel). -AFP/ac

Anybody can confirm Temasek Holdings bought indonesia Telekom shares and tio charge?Now kena fine quite heavily and asked to sell all the share?True?

Subprime holdings drag on 2 China banks Reuters Tuesday, March 25, 2008 HONG KONG: Two large banks - Industrial & Commercial Bank of China and Bank of China - posted higher fourth-quarter profits on Tuesday, buoyed by the country's surging economy. But the state lenders were hurt by holdings in subprime-related securities in the United States. Bank of China, hardest-hit among the country's big banks by subprime exposure, said it held $5 billion in asset-backed securities at the end of 2007, or 2.13 percent of its investment securities, and booked $1.58 billion in provisions and markdowns on the holdings. The lender said, however, that it believed that it had booked sufficient provisions and did not expect to incur further losses if it unloads its subprime-related holdings. Industrial & Commercial Bank said it held subprime-backed securities worth $1.23 billion at the end of December 2007 and booked $400 million as an allowance for potential losses on that portfolio. Both banks said they expect comparatively muted loan growth this year, while Bank of China said it planned to step up overseas acquisition activity following a year when mainland Chinese financial institutions made several landmark investments abroad. While the subprime damage incurred by both the two banks was broadly within expectations, one analyst said further losses are possible for Bank of China. "At first glance, the impairment losses that they took seem to be lower than what other banks in the region have taken," Hong Yang-myung, credit analyst with Lehman Brothers, said. "It is possible they could continue to book additional losses going forward." Bank of China lowered its subprime-related exposure from $7.95 billion in September after shedding its collateralized debt obligations and some of its asset-backed securities. JPMorgan said it expected Bank of China to book a $1 billion subprime provision for 2007 and a further $1.5 billion in 2008, while Bear Stearns had expected impairment losses totaling 21.5 billion yuan, or $3.05 billion, for 2007 and 2008. Bank of China, in which Royal Bank of Scotland is a large shareholder, posted fourth-quarter profit of 10.78 billion yuan, up 3.9 percent from 10.37 billion yuan a year earlier and topping forecasts for profit of about 8 billion yuan, according to analysts polled Reuters Estimates. Its overseas flagship, Bank of China (Hong Kong), said it reduced its exposure to American subprime asset-backed securities to 4.1 billion Hong Kong dollars, or $526 million, at the end of 2007 from 12.8 billion Hong Kong dollars at the end of June. Industrial & Commercial Bank of China posted a 63 percent rise in fourth-quarter earnings, beating expectations, to about 18 billion yuan from 11 billion yuan a year earlier.

exceeding $1000BILLION net value which makes the CEO the 3rd most powerful woman in the world mrs clinton positioned at 25th.... anyone watched the news?