The firm’s portfolio value even rose by 3% in January. But uh… what does this have to do with us ordinary poor folks with no money and no stocks? It is a company with tremendous wealth still locked underground. 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. Fieldwork ran from 18/08/2020 - 02/09/2020 online via a 25-minute Computer Assisted Web Interviewing survey with a total of 4,712 respondents interviewed. 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. 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. A whopping 72.6 per cent of Singaporeans are spending New Year's Eve at home -- whether alone or with close family, according to results... by Danisha Hakeem and Yas / 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. By The Maritime Executive 12-24-2020 06:14:00 2020 was a year for the record books. Our portfolio is S$306 billion and is focused primarily in Asia and Singapore. Temasek last month announced a company-wide wage freeze and … 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. 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. Temasek’s total shareholder return was -2.3% and its net portfolio value fell to S$306 billion in … Ivanhoe’s subsidiary, SouthGobi, owns and operates Ovoot Tolgoi coal mine in Mongolia. 5 Bain Analysis, 2020 Kantar e-Conomy SEA 2020 primary research commissioned by Google, Research was conducted in Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. Pat Low described himself as a “Merdeka generation NSman” who only blogs “for the fun of it”. Temasek is an investment company headquartered in Singapore with a multinational staff of over 800 people. 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). This brings the total... China has confirmed its first case of a new coronavirus variant that was recently detected in Britain, health officials said. 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. Temasek Holdings (Private) Limited (Temasek) is a Sovereign Wealth Fund located in Singapore Singapore, Asia, and was founded in 1974. (Photo: REUTERS/Edgar Su) This makes the total realised loss of … Basics: Temasek makes S$4.1 billion bid to take control of Keppel Corp. He started off the article with the background of Ivanhoe Mines, which was the original name of the mining company before it was changed to Turquoise Hills. We also get your email address to automatically create an account for you in our website. Temasek is due to release its annual report for the year ended March 31, 2020 in a few months. The case was dismissed in Dec 2014 by District Court.”. 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. 0 0 0. Why Ah Beng threw butter out of the window? In October 2019, Temasek launched a S$4.1 billion bid to take control of Keppel Corp. Before this, Temasek already owned 20.5% of Keppel Corp. Keppel Corp (SGX:BN4)’s diversified businesses would allow it to weather the economic slowdown better. The operations were initially open pit mining. Temasek Investor Presentation 2020. This makes the total realised loss of … Showering in the Morning vs Evening: Which is Better? 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.”. After reading that headline you might be in a state of panic. But with commitment, resilience and by working together, we will come through it. It that's the case, it should have realised additional loss in the US$700m ballpark figure. Information as at 14 September 2020. (Bloomberg) — Temasek Holdings Pte.’s investments in China surpassed those in its home market of Singapore for the first time following gains by companies including Alibaba Group Holding Ltd., according to the state investment company’s annual report. 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. It is going for phase II which is underground mining.”. 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. Total Views: 46 . Temasek lost $39.91 billion in eight months, wiping out a little more than half its portfolio-value gains for the previous five years. 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).. ), When You Exercise & Eat at the Same Time #shorts, 30 COVID-19 Cases Today (31 Dec); 5 Are Community Cases, McDonald’s Mala Shaker Fries Review: Probably the Best Fries from McDonald’s So Far, STB Investigating Possible Breach of COVID-19 Rules in a Royal Caribbean Cruise. It is possible the balance shares have already been disposed. 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. 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. ... 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. The StanChart investment is overseen by Temasek president Gregory Curl and head of financial institutions Png Chin Yee. SINGAPORE -- Singapore's state-owned investment company Temasek Holdings Pte. Our portfolio is S$306 billion and is focused primarily in Asia and Singapore. Temasek invests in about 40 global stocks, the largest investment by market capitalization is in Singtel (52% shareholding), jewel in the crown. Temasek eyes health, education tech investments after Covid-19 pandemic Nov 12, 2020, 11:10 am S'pore's Internet economy shrinks 24% despite e-commerce boom as Covid-19 hits online travel sector 2020 COTY: Meet this year's Company Of The Year. 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 led to a class suit action against the company for inflating its earnings and misleading investors. 2020 COTY: Meet this year's Company Of The Year. 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. #shorts, 6 Asian Myths That Aren’t True (Based on Science! 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. Now is the time to see how we can all get rid of this virus.”. Temasek's biggest shareholdings fall US$23.5b in 3 months Tue, Mar 24, 2020 - 4:21 PM Temasek Holdings Pte's biggest equity shareholdings and those of its subsidiaries have plunged almost US$24 billion since January as the spreading coronavirus sends markets into spasms. In comparison with the indices and past crises, Temasek’s portfolio was remarkably resilient despite the widespread losses caused by the pandemic. Without the impairments, Keppel's net profit for H1 2020 would have been higher year-on-year, even after including the loss of $69 million by Keppel O&M," he said. But first, the background. That’s President Halimah Yacob’s. While Turquoise Hills faces investor investigation as it had “lied” about the Oyu Tolgoi’s cost of development. Today’s world is volatile and uncertain. In 2012, miner Rio Tinto boosted its stake in Ivanhoe Mines to 51 per cent, from 49 per cent. Read more at The Business Times. Keppel, whose businesses range from property development to rig-building, swung to a net loss … 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). And he’s god damn right. You shouldn’t be worrying about how much your house can sell for if it’s burning right now. The Top Ten Editorials of 2020. Today is finally the last day of 2020, the year that no one loves. “As at 31 Dec 2013 Temasek was holding 172 m shares costing more than US$1.3b. 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. Yep. Temasek will decide whether to invoke MAC pre-condition by 31 Aug. Turquoise Hills' SEC 2020 filing does not show Temasek as a major shareholder. Therefore, it does not make sense for Temasek to acquire Keppel Corp at premium price before COVID-19 crisis. And that’s not my words. 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. However, Pat Low indicated that Oyu Tolgoi is “beset with huge cost overruns and high sovereign risks”. 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. 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. It doesn’t take a stock market analyst to tell you that every god damn stock you can think of is going down, down, down because of COVID-19. You should be focused on putting out the fire. But, let’s take a step back and assess what’s going on. Last October, Temasek offered to increase its one-fifth stake in Keppel to 51%. 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. That leaves the Singapore fund sitting on billions of pounds in paper losses. Keppel Corporation - DBS Research 2020-04-30: A Step Closer To Temasek’s Partial Offer. Last October, Temasek offered to increase its one-fifth stake in Keppel to 51%. 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. 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. “This was the background when Temasek invested into Turquoise Hills in 2012. In fiscal 2020, that contribution is expected to be S$18.6 billion (US$12.8 billion). It’s share price tanked. “ [If] that’s the case, it should have realised additional loss in the US$700m ballpark figure. 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”. In the last few years, mala stalls have popped up in almost every coffeeshop, and people have been flocking... Singapore may have finally eased into the highly-anticipated Phase 3, but we should not become lax in our fight against the... At first glance, fried chicken skin is nothing short of an absolute nutritional abomination. But now is not the time to think about whether you’ve made a loss or not. Singtel (SGX: Z74) is not just the fixed deposit of Temasek (through consistent dividend payment for decades), also cash generator for over 1 millions Singaporeans who are Singtel retail investors, the most popular […] 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. Keppel's large second-quarter loss that breached a threshold in the state investor's offer to buy control of the company had raised the risk Temasek would abandon the deal. This makes the total realised loss of … Oily, sodium-filled and with sparse nutritional... On 30 Dec 2020, 27 new Covid-19 cases were reported. Reuters. 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. And in the fiscal year 2020, that contribution was expected to be S$18.6 billion. 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. As of 31 March 2019, 42% of Temasek Holdings assets are not publicly listed and are less affected by the stock market. 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). 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. 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. I mean, it’s not like the virus means those big companies suddenly go bankrupt right? They still need to operate, and if the virus goes away they have to resume operations. 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. Temasek is due to release its annual report for the year ended March 31, 2020 in a few months. “SEC filing show as at 14 Jan 2019 balance of share was 100,254,432. 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). Ultimately, both parties reached an agreement with the Government taking 34 per cent of the equity and Ivanhoe earns 66 per cent. “Note the Ivanhoe Mines currently listed on the stock exchange is another metal company which later took over this name,” he added. 26 of them are import cases, including one Singapore Airline... How to Use “Ok Boomer” in an Office #shorts. 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. 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”. And sis, of course. 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. “In 2013 the company revised its annual reports for 2010, 2011 & 2012 due to change in accounting statements at its subsidiary SouthGobi. Currently, it is at risk of being delisted as its price has fallen below US$1.00.”. 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. Keppel, whose businesses range from property development to rig-building, swung to a net loss … Read our Chairman's message Watch Temasek Year in Review Temasek Holdings (Private) Limited (abbreviated as Temasek) is a Singaporean holding company, owned by the Government of Singapore.Incorporated on 25 June 1974 as a Commercial Investment Company, Temasek owns and manages a net portfolio of S$306 billion (as of 31 March 2020), with S$26 billion divested and S$32 billion invested during the year, and 66% exposure to Asia – 24% Singapore … Temasek’s $3 Billion Bid for Keppel at Risk as Conglomerate Reports Big Loss. “Ivanhoe found the copper and gold deposits in Oyu Tolgoi in 2001. Oyu Tolgoi is located in the South Gobi region of Mongolia, approximately 550km south of the capital, Ulaanbaatar, and 80km north of the Mongolia-China border, as stated in Turquoise Hills’ website. This is coupled with the fact that Temasek’s financial year ended on 31 March 2020 when many stock markets were trading near their bottoms. 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”. Keppel Corp was making loss in Q2/2020, providing an option for Temasek to withdraw the acquisition as cash or capital may be more critical for other Temasek stocks during this period of uncertainty. 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). 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. ... 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. 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. Once your account is created, you'll be logged-in to this account. In 2010 the reserves were placed at 81.3 billion pounds for copper and 46.4 million ounces for gold,” he wrote. “[If] that’s the case, it should have realised additional loss in the US$700m ballpark figure. Also, things might not be as grim as it looks. ... “But now is not the time to think about whether you’ve made a loss or not. The... Would love your thoughts, please comment. Before all these apocalypse talks started, Temasek was actually doing pretty well despite things like the US-China trade war. 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. That means our gahmen need to tap into reserves to help its people and businesses that are bleeding from the impact of the virus. Yeah, we were doing better than the year before until shit happens. 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 mining company then developed interests in the Oyu Tolgoi copper-gold mine development project, said Pat Low. 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. Keppel Corp was making loss in Q2/2020, providing an option for Temasek to withdraw the acquisition as cash or capital may be more critical for other Temasek stocks during this period of uncertainty. July 31, 2020 ... 2H 2020 will probably remain very challenging,” Loh said. 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. “Turquoise Hills’ inability to move forward and produce results bear heavily on its share price. Hills ’ inability to move forward and produce results bear heavily on its share price Temasek ’ not. 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