3 quick objections in succession I see...
You'd say hindsight is 20/20 but I still think that it would have been better if more time and money were spent on proper supervision and policy RATHER then all this glam glam prestige where every day's a birthday party.
Pls see below.
Sorry to disappoint you but that's how I see it.
You are free to post on this thread succinctly, the good points about the profit of GIC.
Discussion in this respect is probably necessary and as Dr Tan himself put it: 'Confidence for the Future -- Dr Tony Tan': [YouTube, Aug 17, 2011 (&#t=2m55s)]: "...Having worked at Singapore's sovereign wealth fund, I press for greater transparency and accountability...."
UBS has been receiving some bad press from the US lately... for helping US citizens to evade taxes in their home country...
Pls read: 'UBS’s Tax Deals Shredded U.S. Patience With Gall: Ann Woolner' [Bloomberg; 12Jun2009]:
The following is the trend of UBS share price to date [link]:
According to 'Singapore Investment Arm To Sink Billions Into UBS' [Forbes, 10Dec2007] "GIC's deputy chairman and executive director, Tony Tan Keng Yam, told reporters in Singapore that 'we made this significant investment in UBS because we have confidence in the long-term growth potential of the bank's businesses, particularly its global wealth management business... we made this significant investment in UBS because we have confidence in the long-term growth potential of the bank's businesses, particularly its global wealth management business.'"
Whilst Dr Tan is interested in UBS potential for profit, even contesting presidential elections upon the pillars of transparency integrity, would Dr Tan also like to comment about: "UBS sent private bankers to U.S. art auctions and regattas to find rich Americans, reel them in as depositors and advise them on setting up sham companies and bogus trusts to shield their money from the tax man" [Bloomberg; 12Jun2009]
Does GIC not invest with some sense of corporate social responsibility?
"He (Dr Tan) said Singapore will strive to promote sovereign wealth funds by participating 'actively in efforts to formulate a set of principles and best practices for sovereign wealth funds. GIC believes that it can contribute in a positive way to the framework for greater disclosure.'
UBS’s prestige in the wealth management business should help Singapore entrench its success in becoming a top player in serving the financial needs of the wealthy clients in the region." [Forbes, 10Dec2007]
Dr Tan's comments as largest share holder of UBS ('Largest shareholder': Ref TDY24Sep2011) remains at odds with UBS's proven guilty practices of advising "them (rich Americans) on setting up sham companies and bogus trusts to shield their money from the tax man" [Bloomberg; 12Jun2009]
"UBS’s prestige in the wealth management business should help Singapore entrench its success in becoming a top player in serving the financial needs of the wealthy clients in the region." [Forbes, 10Dec2007]
Was integrity ever part of the equation?
Oops, did I forget, no homework was necessary?
Quote:
Quote:
Originally Posted by workingtoohard  oh..... the desperate things people do when they are hard up on shit to fling. |
Quote:
Originally Posted by DoraTheExplorer I agree with workingtoohard. What's with this desperateness to sling shit onto GIC? The overall investments of GIC has been very positive to say the least. Since you are stating the bad points of GIC (which inevitably happens when investing, I mean, you can't exactly expect a 100% success rate), are you going to be stating out the good ones? Oh wait your viewpoint is too skewed to do so. |
You are free to post on this thread succinctly, the good points about the profit of GIC.
Discussion in this respect is probably necessary and as Dr Tan himself put it: 'Confidence for the Future -- Dr Tony Tan': [YouTube, Aug 17, 2011 (&#t=2m55s)]: "...Having worked at Singapore's sovereign wealth fund, I press for greater transparency and accountability...."
UBS has been receiving some bad press from the US lately... for helping US citizens to evade taxes in their home country...
Pls read: 'UBS’s Tax Deals Shredded U.S. Patience With Gall: Ann Woolner' [Bloomberg; 12Jun2009]:
Quote:
| Tax-Evading Americans. All of this stems from UBS’s unwillingness to simply wait for tax-evading Americans to come calling in Zurich and Geneva, as they have for generations. UBS sent private bankers to U.S. art auctions and regattas to find rich Americans, reel them in as depositors and advise them on setting up sham companies and bogus trusts to shield their money from the tax man, the bank now admits. [Bloomberg; 12Jun2009] |
 | This image has been resized. Click this bar to view the full image. The original image is sized %1%2. |
According to 'Singapore Investment Arm To Sink Billions Into UBS' [Forbes, 10Dec2007] "GIC's deputy chairman and executive director, Tony Tan Keng Yam, told reporters in Singapore that 'we made this significant investment in UBS because we have confidence in the long-term growth potential of the bank's businesses, particularly its global wealth management business... we made this significant investment in UBS because we have confidence in the long-term growth potential of the bank's businesses, particularly its global wealth management business.'"
Whilst Dr Tan is interested in UBS potential for profit, even contesting presidential elections upon the pillars of transparency integrity, would Dr Tan also like to comment about: "UBS sent private bankers to U.S. art auctions and regattas to find rich Americans, reel them in as depositors and advise them on setting up sham companies and bogus trusts to shield their money from the tax man" [Bloomberg; 12Jun2009]
Does GIC not invest with some sense of corporate social responsibility?
"He (Dr Tan) said Singapore will strive to promote sovereign wealth funds by participating 'actively in efforts to formulate a set of principles and best practices for sovereign wealth funds. GIC believes that it can contribute in a positive way to the framework for greater disclosure.'
UBS’s prestige in the wealth management business should help Singapore entrench its success in becoming a top player in serving the financial needs of the wealthy clients in the region." [Forbes, 10Dec2007]
Dr Tan's comments as largest share holder of UBS ('Largest shareholder': Ref TDY24Sep2011) remains at odds with UBS's proven guilty practices of advising "them (rich Americans) on setting up sham companies and bogus trusts to shield their money from the tax man" [Bloomberg; 12Jun2009]
"UBS’s prestige in the wealth management business should help Singapore entrench its success in becoming a top player in serving the financial needs of the wealthy clients in the region." [Forbes, 10Dec2007]
Was integrity ever part of the equation?
Oops, did I forget, no homework was necessary?
===============
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