THE TEMASEK TIMES

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Archive for September 17th, 2018

NUS Prof arrested for dangerous driving: Reader told to complain to Office of University Communications

Posted by temasektimes on September 17, 2018

An irate reader was told to lodge a formal complaint to NUS Office of University Communications on a NUS Geography Professor’s reckless driving which was filmed and widely shared in cyberspace after posting his feedback on the NUS Geography Facebook page:

The NUS Professor who drove a Maserati was also caught making an illegal U-turn on the same day:

 

Despite the massive public outcry, NUS still refused to take disciplinary action against the Prof who remains as the Acting Head of NUS Geography.

Those who wished to feedback to NUS regarding this matter and contact it here:

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Temasek Holdings lost S$1.2 billion dollars in 5 months over Bayer investment

Posted by temasektimes on September 17, 2018

Singapore sovereign wealth fund Temasek Holdings has lost a shocking S$1.25 billion dollars over a period of just four months on its investment in German drugmaker Bayer.

Only in April this year, it was reported that Temasek had invested S$4.9 billion dollars in Bayer:

“Singapore’s state investment company Temasek is set to acquire a 3.6 per cent stake in German drugmaker Bayer for 3 billion euros (S$4.9 billion).” (Source: CNA )

Four months later, Bayer’s stock tumbled by more than 10 percent:

“Bayer tumbled more than 10 per cent on Monday (Aug 13) as investors reacted to the shock US ruling against freshly-acquired Monsanto. Stock in the group fell 10.4 per cent to 83.61 euros around 9:25am, after a California jury on Friday awarded a dying groundskeeper damages of almost US$290 million, saying Monsanto should have warned buyers that its flagship Roundup weedkiller could cause cancer.” (Source: Straits Times)

Since Temasek bought 3 billion euros worth of shares at 96.77 euros in Apr, that means it has lost 24.95 euros per share or 25.8% of the 3 billion euros investment. So, in 5 months, Temasek has lost 774 million euros or S$1.2 billion. This does not include any rights issue which Temasek might have dumped further money into Bayer.

Temasek Holdings is currently being helmed by Ho Ching, the wife of Singapore’s Prime Minister Lee Hsien Loong.

Singaporeans need not be too worried about the paper loss as Temasek’s investments are meant for the LONG TERM.

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