Why Temasek, Why ?
There are some days where I wonder what would actually happen had I been smart enough to join the civil service ? I shudder. Probably running a mail room in a remote part of the island, in exile, where they put all the non conformists. Such thoughts are, of course, fabrications of an envious, sour grapes mind because I am UNWORTHY.
This post is written for posterity because in the future we will see how silly we are to be asking this question now.
About 20% of Temasek’s portfolio is in Chinese banks. ICBC shares have plunged 22% since 22 May 2013. But NOTE they wisely bought ONLY USD 198 mio !
“Just yesterday, 10:35, Shanghai and other places ICBC system failures, ATM machines, POS machines, online banking appeared paralyzed more than 50 minutes, all kinds of businesses can not properly handle.” Source Zerohedge
I will not make any judgments safe to say, I am not a very smart person and am unworthy of analysing a matter of such crippling complexity.
Muddy Waters wins for now. But lets revisit this in a few years.
Muddy Waters says this.
Meanwhile, the rest of Singapore GLCs were pretty sharp.
- Temasek Vs Muddy Waters Goes To China (tradehaven.me)
- Temasek Increases Stake in ICBC as Goldman Ends Holding – Bloomberg (bloomberg.com)
- Bank Transfers and Services Suspended in China: ATMs, POS Machines, Online Banking Paralyzed 50 Minutes (globaleconomicanalysis.blogspot.com)
- Bank Of China Declares Moratorium On Transfers, Online Banking; Counters Inoperable (infiniteunknown.net)