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As a result of the global financial crisis,Temasek Holdings which is owned by the Government Singapore registered very disappointing financial results for its last year financial statement ending March:- Net profit plunged 67 percent to six billion Singapore dollars (4.25 billion US) in the year to March. Net profit fell from the record [...] Due to the credit crunch,many companies find it difficult to get the financing. Private equity funds in this period of time are gaining much prominence. One such powerful “private” equity group is the sovereign wealth funds which are often run state-owned. Do not underestimate such Sovereign wealth funds as it comprise a US$3 trillion [...] Singapore Airlines (SIA) will cut staff pay by 10 per cent after unveiling a net loss of S$307 million (RM736.8 million) in the April-June quarter — only its second-ever quarterly loss. It had recorded a net profit of S$358.6 million in the same quarter last year.
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It is interesting to note that Temasek Holdings has a compensation structure where all the staff share in both positive and negative results of the company which in essence having an owner’s approach to the business and operations. When Temasek achieves above-target returns,there is the Wealth Added and reported in the annual [...] Temasek Holdings is one of the two investment arms of the Singapore government ( the other is GIC) which manages a global portfolio invested in a wide range of sectors from airlines to energy,resources and consumer products. [...] |  FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four,Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.Also author to another very popular free educational accounting cum finance blog:http://basiccollegeaccounting.com under the branding of College Accounting Coach. | |||||
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