Kini giliran Singapura kerugian kira-kira USD58.0 bilion (x3.4= RM197.2 bilion):Source Business Asia 17.2.09. Malaysia baru nak lancar pakej ransangan RM7.0 bilion ? Sebenarnya dalam 'off balance sheets' banyak bank malaysia telah rugi akibat pinjaman derivatif asing. Ini perang jihad terbesar zaman mutakhir tetapi pak arab telahpun hangus lebih US1.0 trilion/1,000 bilion kerana eksport minyak disimpan dalam USD/bank USA ! Beli saham/bon USA yang jatuh teruk bcos toxic debts derivates. Bila pemimpin islam bangkit dari mimpi kuasa politik demokrasi ?
SINGAPORE - Government of Singapore Investment Corp, which has helped bail out troubled global financial institutions, suffered an investment loss of about 50 billion Singapore dollars (33 billion US) last year, sources told Dow Jones Newswires on Tuesday.
In late 2007 and early last year GIC injected billions of dollars into Swiss bank UBS as well as US banking giant Citigroup, both of which suffered massive losses from US subprime, or higher-risk, mortgage investments.
Subprime troubles later evolved into the worldwide financial slowdown.
"The loss on the investment portfolio last year is estimated at around 45 billion to 50 billion," one of two people familiar with the GIC situation told Dow Jones.
"But, GIC has no thoughts to sell down any of its major investments. They'll wait until they recover."
UBS this month posted an annual loss of 17 billion US dollars, the largest in Swiss corporate history, and announced 2,000 new job cuts.
A second person said GIC's investment loss last year was "recently estimated to be similar to Temasek's."
The portfolio of Singapore sovereign wealth fund Temasek Holdings, which helped bail out Wall Street icon Merrill Lynch, fell about 31 percent over eight months last year, Senior Minister of State for Finance Lim Hwee Hua told parliament last week.
She said Temasek's portfolio of investments fell to 127 billion dollars at the end of November, down 58 billion from 185 billion dollars on March 31 last year.
BAB 4 - MENDEKATI ORANG BUKAN ISLAM
3 years ago
100,000 Rakyat Singapura Tertipu Oleh Lehman Brothers (Nov.2008)SINGAPORE (Reuters) -
ReplyDeleteCancer patient Lim Qing Si was one of thousands of hard-working Singaporeans who lost their savings in the financial crisis, especially when Lehman Brothers collapsed and its secured products became virtually worthless.
"All this money is my husband and my retirement savings," said Lim, a 54-year-old retiree, who must now scramble together what's left of her savings to pay for cancer treatment after a malignant tumor was found in her leg.
In all, nearly 10,000 people in Singapore stand to lose over S$500 million ($338 million) due to the collapse of Lehman Brothers Holdings Inc, the central bank says.
The incident left many financially scarred but politically awakened in a city-state where protests are rare and street gatherings of five or more people require a permit.
Lim and others have taken advantage of a recent government move to create a forum for public protest, a "Speakers Corner," modeled on the Hyde Park bastion of free speech.
Since the financial crisis struck, hundreds of ordinary working-class people who have lost money have gathered each Saturday to air their grievances and call on the government to help recoup their losses.
"I hope the authorities, who are supposed to protect ordinary people, should be much more proactive," said Tan Kin Lian, the protest organizer and a former chief executive of a large Singapore insurer.