F & N- Another little known Temasick and Whore Jinx Fuck up

[Sammyboy RSS Feed]

An honorable member of the Coffee Shop Has Just Posted the Following:

Temasek bought about 15% of F & N in 2006 for $900 million.

Temasek to Take 14.9% Ownership Of Fraser & Neave
By Kevin Lim
Updated Dec. 11, 2006 12:01 a.m. ET

SINGAPORE -- Temasek Holdings Pte. Ltd. will invest S$900 million (US$582 million) in Fraser & Neave Ltd. to help the Singapore conglomerate expand its food and beverage business.

F&N, whose businesses also include property development and printing, Friday said it will issue 205.5 million new shares to Temasek at S$4.38 apiece. Singapore's state-owned investment company will own 14.9% of F&N following the placement.

In 2010, Temasek thought they had a good deal when they sold this 15% stake in F & N to japan's Kirin Beer for $1.3 billion, thus making $400 million over 4 years. I don't know what is all these lies that Old Fart used to say, namely that investments were for the long term, and all that crap. Is 4 years long term to hold on to F & N. Hardly.

Singapore state investor Temasek Holdings will sell its entire 14.7 percent stake in beer and property conglomerate Fraser & Neave (FRNM.SI) to Japan's Kirin Holdings (2503.T) for S$1.3 billion ($950 million), company officials said on Monday.

"When Kirin approached us with an acceptable offer over a week ago, we decided, on balance, that it was a good opportunity for F&N to work with an established food and beverage company with complementary strengths," David Heng, Temasek managing director for investments, said in a statement. (Reporting by Saeed Azhar and Kevin Lim)

I guess Whore Jinx and the Temasek crew were still patting themselves on the back on the "killing" they made selling F & N to Kirin, when they were taught a lesson by a really smarter and more business savvy company like Kirin. Because just over 2 years later, Kirin turn around and sold the 15% they bought from Temasek to Thai Billionaire Charoen for $2 billion!! This means Kirin Beer made $700 million in just over 2 years that it owned the Temasek stake, much more then the $400 million that Temasek earned over 4 years . If Temasek did not sell it in 2010 and sold it in early 2013 to the Thai Billionaire, they would have earned $1.1 billion, 2.75 times more!! Once again, this proves that you cannot put your own family members in to run these businesses, because they are no good. Its easy to say that its onyl hindsight that we can see all this. My assertion is that you are paid the tens of millions $ a year in salary and bonus precisely to see this and not suffer the lost profit that you did. There is no way on earth that Temasek could have taken their $1.3 billon from Kirin and made $700 million from that in just over 2 years. Fuck Lee Kuan Yew and his spawn.

(February 1, 2013, 1:18 PM ET) -- Japanese brewer Kirin Holdings Co. Ltd. said Friday that it would sell its 15 percent stake in Fraser & Neave Ltd. for SG$2 billion ($1.6 billion) after a Thai billionaire inked a deal for the Singaporean conglomerate earlier this month, besting a rival offer Kirin had supported.
By tendering its shares in favor of the SG$13.2 billion offer made by Charoen Sirivadhanabhakdi's TCC Assets Ltd., Kirin — best known for its namesake beer — will rake in a profit of 47 billion yen ($510 million). It did not sketch out plans for the proceeds.


Click here to view the whole thread at www.sammyboy.com.