Sale of Raffles Hotel – Nothing Personal, Just Business
By Damon Yeo It was announced this week that the ownership of the iconic Raffles Hotel will change for the third time in seven years. The likely buyer was revealed to be Qatari Diar, the real estate arm of Qatar Investment Authority, equivalent of what Temasek Holdings / Government Investment Corp are to the Singapore government. Under...
Signs that elections are coming
One has to read in between the lines to decipher news from propaganda Is it just my imagination or has the state media been orchestrating “feel good” news to prepare Singaporeans for the upcoming elections to be held by 2011? From the Housing Development Board (HDB) recording a deficit of S$2.119 billion to companies fighting...
Investment in UBS by GIC – a Chronicle of a Disaster in the Making
By Damon Yeo It was mid-December 2007 [A] when the Government of Singapore Investment Corp. (GIC) made a whooping 11 billion Swiss francs (S$13.8 billion) investment in UBS. There was news earlier in the summer of 2007 about how the US housing market was showing signs of slowing down, but some of the major financial institutions...
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