HOHOHO: Temasek invested in WeWorks’ flea ridden dog

In July 2018, the FT reported that SoftBank, its Saudi-backed Vision Fund, private equity firms Trustbridge Partners and Hony Capital, and our very own Temasek invested in a WeWork subsidiary in China. It was valued at US$5bn.

A year before, after Softbank and Hony put $ into it, it was worth US$1bn.

Great investment that naturally TOC’s M’sian Indian goons never reported. To be fair neither did other alt media publications. I think our constructive, nation-building trumpeted this investment.

Now?

China has emerged as one of WeWork’s worst performing markets as a local operation once seen as critical to the office provider’s global growth suffers from ultra-low occupancy rates and is “bleeding cash”, said people with direct knowledge of the business.

FT

What “ultra-low occupancy rates” mean. FT reported: WeWork locations in October in

Shanghai had a vacancy rate of 35.7% in October,

Shenzhen 65.3% (in Hong Kong only 22.1%  vacant) and

Xi’an, had a vacancy rate of 78.5%.

As reported in ST’s BS about WeWorks Cont’d, WeWorks is exiting China.

Wonder if our constructive, nation-building media will report this fiasco? It trumpeted its success last year.

 

Cynical Investor

Cynical Investor blogs at Thoughts of a Cynical Investor

 

 

 

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8 Responses to “HOHOHO: Temasek invested in WeWorks’ flea ridden dog”

  • cut and paste is plagiarism:

    wah lan eh, like that also news?

    no wonder cheapskate cents per post also jalan.

    2018 already every human knows it is a scam.

    takes so long, late 2019, to realize?

    no wonder fail in investment and so cheapskate cents per post also want.

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  • what the hell:

    tighten our belts…a slew of tax and price hikes in the horizon to recoup loses.
    happens every time.

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  • Just Like CCP:

    It would be suicidal to invest in China now when everyone is trying to repatriate their money out of China.

    If you have plenty of gambling money, then perhaps you could risk a shot.

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  • Observer:

    Looks like a par for the course investment for Temasek….
    Perhaps we need to advise its boss on how to run the co,
    just as she lectures us on how to live and think?

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  • Asd:

    How much are these free loaders paid to make these kind of decision ? Why the hell they have such rights to the people’s money and if loss who shoulder them ?

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  • Harder Truths:

    China can intially invest, take the technology and then destroy the company. They know what they are doing. They transfer the technology to Chinese brands overnight.

    $G wants to play with the big boys, then expect a lot of money lost on investments like this.

    TH CEO is like a housewife on a sale day when everything is half-price. “Buy Buy Buy” she screams. Then the items turn out to be worthless.

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  • Temasek, Not Again,,.:

    Jinz Again. How long is this to continue ? Losing money all the time WTF.

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  • Jman:

    The current investment environment is awash with cheap money, and investors behaving like gamblers trying their hand in casinos.

    This system has been around for close to a decade. And has created unimaginable riches for a few. And many large funds would look like fools if they totally refrain from this game.

    We are in a tumultuous world, finding its feet after many western companies pushed everything to its conventional limits, and well beyond by 2008. With little left to sell to the rest of the world, they have been engaged in s*ake oil finance papered over shiny profits built on tech lies and deceit.

    It is what it is.

    You play musical chairs, as everyone is doing. And who is left standing when the music stops, had it.

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