GIC, Temasek & MAS 01 (May 08 - Aug 09)

[caseyc]

Temasek's purchase of MER has a lockup period of 1 year, so they can't sell yet. Temasek got a "discount" of 13% then in exchange for this lockup.

[blid2def]

Now I'm starting to doubt MFFAIS' accuracy on all other reports in the past... especially - where the hell did they come out with a SEC filing on 22 Jul with this fact - when there was none to that effect???

LONG BEACH (Mffais.com) - Temasek Holdings Private Ltd sold -86,949,594 (-50.00 %) of their shares in Merrill Lynch And Co Inc (MER), bringing their current holdings to 86,949,594 shares as shown by filings made public on 2008-07-22.

[millionairemind]

GR,

News come out oredi... I am VERY SURE GAHMEN ALWAYS monitoring all these online forums..including this one.... Our ever present all spying..sorry..not spying..its all-seeing gahmen..

mm

http://in.reuters.com/article/asiaCompa ... 4820080725

Temasek stake in Merrill unchanged since March-sources
Fri Jul 25, 2008 10:33am IST
SINGAPORE, July 25 (Reuters) - Singapore's sovereign fund Temasek Holdings TEM.UL still owns 86.9 million shares in U.S. investment bank Merrill Lynch (MER.N: Quote, Profile, Research), unchanged since March, sources told Reuters.

A source briefed on the situation said since March 31 Temasek had not reduced its shareholding in Merrill, denying a market rumour that it has sold shares in the U.S. bank.

Temasek invested $5 billion in Merrill Lynch in December and February at $48 a share, at a time when sovereign funds from Asia and the Middle East were propping up global banks reeling from subprime-related credit losses.

Merrill shares, which closed at $29.04 on Thursday, are 40 percent below Temasek's purchase price. (Reporting by Saeed Azhar, editing by Neil Chatterjee)

[blid2def]

Well, it's a fact that the report was misleading in the first place, and it's natural for people to overreact (myself included). What's important is that once we recognize that we made a mistake, we acknowledge it, take actions to stop it from continuing, and we move on.

And so, this should be applied to us also:

[winston]

UPDATE 1-Singapore's Temasek invests another $900 mln in Merrill

(Updates with details, background) SINGAPORE, July 29 (Reuters) - Singapore state investor Temasek Holdings [TEM.UL] has pumped in an additional $900 million in Merrill Lynch as part of the U.S. broker's latest capital-raising effort.

"Temasek confirms its commitment of $3.4 billion in the public offering by Merrill Lynch," spokewoman Myrna Thomas said in a statement on Tuesday.

"The commitment includes a sum of $2.5 billion arising from a re-set payment which Merrill Lynch has agreed to pay to Temasek as an adjustment to the price of Temasek's original investment made in December 2007," she added.

Temasek had invested a total of $5 billion in Merrill in December and February at $48 per share, but Merrill shares have fallen by about half since then.

The deal had a feature that required Merrill Lynch to compensate the Singapore investor should the U.S. firm subsequently raise new capital at a lower price.

[millionairemind]

They never heard of CUTTING YOUR LOSSES SHORT? They only HEARD OF AVERAGING DOWN TO SUICIDE???

Uphill climb Down Under for some S'pore investments
ABC Learning, Australand struggle but Optus manages to hold its own
By SIOW LI SEN

(SINGAPORE) It's not only in the US but in Australia too that the global credit crunch has hurt some of Temasek Holdings' investments.
The price of ABC Learning, the world's largest listed childcare provider has collapsed almost 90 per cent from when Temasek first bought into the company in May 2007 at A$7.30 a share.

Yesterday, the troubled ABC closed at 82.5 Aussie cents.

ABC has been selling assets to pay off its debt of A$1.7 billion (S$2.2 billion) - loans it took to fund its rapid expansion last year in the United States.

ABC is aiming to raise A$800 million from sales in the US and the UK.

Temasek Holdings had first invested A$401.5 million for a 12 per cent stake in ABC in May last year. Then early this year, as the stock of ABC plunged, Temasek raised its stake to 14.7 per cent.

Temasek said in a statement to the Australian stock exchange that it paid between A$2.14 and A$4.20 per share for the nearly 12 million shares it bought mainly in February.

But its holding in ABC has been pared back slightly to 12.68 per cent after the childcare provider completed an A$82 million equity placement in June.

Lazard Asset Management is now ABC's largest shareholder with 12.93 per cent, followed by Temasek.

Another Temasek-related entity that needs money is Australand, a property company which has announced a one-for-one rights issue at A$0.60 a share to raise A$557 million.

CapitaLand, which owns 54 per cent of Australand, is committing A$302 million to the rights issue and if all minorities do not take up their entitlements, CapitaLand's stake could increase to 70 per cent, said a JP Morgan report yesterday.

This week, Australand said property revaluation and project writedown have resulted in a 79 per cent year-on-year fall in net profit to A$25.6 million for the half-year ended June 30, 2008.

The assets are located predominantly in Sydney, which Australand says has continued to 'suffer more difficult market conditions with no improvement forecast in the short to medium term'.

Australand, acquired by CapitaLand's predecessor DBS Land in 1994, went public in 1997 and is listed in Singapore too, where it is rarely traded. In 2003, it was restructured into a property trust.

Australand last traded at 97.5 Aussie cents and has fallen almost 60 per cent year to date.

A Temasek spokeswoman said 'no comment' when asked how it viewed the performance of its investments in Australia.

But one Australian asset owned by Temasek-linked company Singapore Telecommunications that has done relatively well is its unit Optus, the second largest telco after Telstra.

SingTel is now listed in Australia, after it bought Optus in 2001.

Last year, Optus's revenue of A$7.8 billion made up 67 per cent of SingTel's group revenue of S$14.8 billion.

SingTel yesterday closed here at $3.57, down 11 per cent year to date outperforming the benchmark Straits Times Index, which is down more than 15 per cent.

[kennynah]

our ever critique is to hopefully keep people of responsibilities on their toes...when they do right, we must also give them a pat on the back...

there are still 2 different issues here...

1) an investment
2) protection clauses to that investment

2) is satisfied....and we need time to see what happens to 1)

[winston]

Temasek aims to join MBK bid for HKT stake -paper

SINGAPORE, Aug 4 (Reuters) - Singapore's Temasek Holdings [TEM.UL] plans to join MBK Partners in a bid to buy a 45 per cent stake in PCCW Ltd's <0008.HK> media and telecoms unit HKT Group Holdings, the South China Morning Post reported on Monday.

PCCW, the Hong Kong phone company controlled by billionaire Richard Li, said last month it expects to shortlist bidders for its newly formed HKT Group within a month, in a deal that could fetch more than $2.5 billion.

Sovereign wealth fund Temasek and South Korean private equity firm MBK declined to comment on the matter, the article said, citing unnamed sources.

PCCW had announced plans in May to fold its core media and telecoms businesses into the new unit and sell 45 percent.

Reuters reported last month that the Blackstone Group

The South China Morning Post reported on Monday that the tie-up between MBK and Temasek comes as other interested parties begin sounding out partnership possibilities.

The article said a bid by state-controlled SingTel

The newspaper said that while PCCW had indicated that it wanted sole expressions of interest in the first round of the transaction last month, it is widely expected that funds will form pairs or larger consortiums once notified that they have made it on to the shortlist for the second round.

That had been expected last week but was pushed back to the next few days as PCCW moves ahead slowly with the transaction, the article said.

It said interested parties expect a month or so of due diligence following the shortlist and a preferred bidder selected by the end of September.

[winston]

Singapore's GIC takes stake in Mexico mall developer

SINGAPORE, Aug 6 (Reuters) - The Government of Singapore Investment Corp's (GIC) real estate arm said on Wednesday it has taken a stake in a property fund that will invest in malls across Mexico.

GIC Real Estate declined to give details of the size of its investment in Mexico Retail Properties (MRP), which currently owns 14 retail centres in the Latin American country and has another 26 projects in the pipeline.

"The anchor space in the majority of MRP?s centers is leased to Wal-Mart," MRP, an affiliate of U.S. private equity firm Black Creek Group, said in a statement on Tuesday.

GIC has more than 200 property investments globally. In 2005, it formed a $700 million joint venture with U.S.-based AMB Property Corp to invest in industrial distribution properties in Mexico.

[winston]

Temasek says assets worth $185 bln

SINGAPORE - Singapore sovereign fund Temasek's assets were worth $185 billion (US$131 billion) at the end of March, Temasek's chairman S Dhanabalan said on Thursday, up 13 per cent from a year earlier.

'Growing with our blue chip companies and our direct investment activities, Temasek now owns a net portfolio of about $185 billion at market value as at March 31, 2008,' he said in a speech.

He said Singapore and Asia account for nearly 75 per cent of Temasek's investments, down from 78 per cent reported a year earlier.

Temasek, the smaller of Singapore's two wealth funds, has been seeking investments outside its core markets of Asia excluding Japan in search of higher returns and to diversify its portfolio.

It has invested heavily in Western banks such as Merrill Lynch and Barclays, and it is recruiting staff for new offices in Mexico and Brazil that will be set up this year .

Temasek is also looking at Africa and the Middle East, and has asked a small number of staff to spend part of their time looking at potential investments in the region, a source familiar with the firm said.

As of March 2007, 78 per cent of its $164 billion portfolio was made up of Asian assets. In the long run, it wants a third in Singapore, a third in Asia and a third in the developed markets. -- REUTERS