GIC’s Citi investment was based on …. pure luck
Time to set the record straight on GIC’s Citi investment: it was pure luck. In Jan 2008, GIC had invested US$6.88 billion in 7% convertible preferred securities with a conversion price of US$26.35, ie GIC saw value in Citi at US$26.35. But after only 14 months, Citi’s share price collapsed to below $1. GIC was actually...
Singapore and Guantanamo
The whole world knows about prisoners in Guantanamo. Few however know about a high security prison in Singapore where prisoners suffer the same fate as those in Guantanamo. They are detained indefinitely without trial with many tortured and unknown. According to Wikipedia there were 779 prisoners in Guantanamo since 2002 (the...
Government to merge all ministries under one roof
Braking news: Government to merge all ministries, severe cost cutting measure needed as economy has tanked. PeeMO Pisstana, Orchid Road Dear fellow citizens Thank you for your understanding and sharing in the pain of the government during this difficult period. The majority of you should have known by now that the government...
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