The POSB Transaction Revisited
I shall begin with a little background. I recently wrote a comment about the creative accounting at Temasek Holdings drawing on two examples of under-valued acquisitions by Temasek-linked companies (TLCs). The comment itself was a topical response to an article by Christopher Balding. Christopher later cited my comment in his...
Towards Sensible Accounting for Temasek Holdings & GIC
When news of the SIA's "profitable" sale of Virgin Atlantic stock was announced, I found myself greatly dismayed by how one could "legitimately" buy stock at nearly four times the price one sold at and still have the gall to declare a profit based on "Generally Accepted Accounting Practices" (GAAP)1. I would propose that a...
Temasek Holdings and the Case of the Undervalued Assets
Dr Christopher Balding I am amused and intrigued by people who have no understanding of the implications of their own arguments or do not carefully read what I have written. In his “rebuttal of a rebuttal” ('A rebuttal of Professor Balding’s rebuttal'), Mrs. Snook further attempts to convince myself and others about the...
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