That means our gahmen need to tap into reserves to help its people and businesses that are bleeding from the impact of the virus. The... Would love your thoughts, please comment. 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. 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. 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 Last October, Temasek offered to increase its one-fifth stake in Keppel to 51%. 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. ... “But now is not the time to think about whether you’ve made a loss or not. Our portfolio is S$306 billion and is focused primarily in Asia and Singapore. 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. 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. “ [If] that’s the case, it should have realised additional loss in the US$700m ballpark figure. 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. 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. Now is the time to see how we can all get rid of this virus.”. Keppel Corp (SGX:BN4)’s diversified businesses would allow it to weather the economic slowdown better. That’s President Halimah Yacob’s. 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. Read more at The Business Times. The operations were initially open pit mining. Lest you think I’m pulling this number out of my behind, this was done by a Bloomberg analysis. 2020 COTY: Meet this year's Company Of The Year. 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.”. 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. Ultimately, both parties reached an agreement with the Government taking 34 per cent of the equity and Ivanhoe earns 66 per cent. If the takeover is successful, Keppel would hold 51% of Keppel Corp. This makes the total realised loss of … 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 … 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. Currently, it is at risk of being delisted as its price has fallen below US$1.00.”. Stomp reported that the police... Deputy Prime Minister and Finance Minister Heng Swee Keat will be delivering his Singapore Budget 2021 statement in Parliament on 16 February. The mining company then developed interests in the Oyu Tolgoi copper-gold mine development project, said Pat Low. Massive impairment of S$919m in 2Q20 dragged Keppel Corp into largest ever net loss of S$698m. Total Views: 46 . “Note the Ivanhoe Mines currently listed on the stock exchange is another metal company which later took over this name,” he added. 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. 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). You shouldn’t be worrying about how much your house can sell for if it’s burning right now. “As at 31 Dec 2013 Temasek was holding 172 m shares costing more than US$1.3b. / 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. 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). 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. 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). Today’s world is volatile and uncertain. Excluding impairment, Keppel Corp would have reported commendable core profit of S$222m (+45% y-o-y). 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. 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. Turquoise Hills' SEC 2020 filing does not show Temasek as a major shareholder. 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). Are less affected by the Maritime Executive 12-24-2020 06:14:00 2020 was a year for the fun it! 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