Temasek Holdings, an investment company owned by the Singapore Government, has sold all her Bank of America (BoA) 's share in the first three months of the year.

Yah. people buy and sell shares everyday, so whats the hooha about it?

For your information, Temasek sold the shares at a loss of at least S$3.4 billion to S$4.6 billion. Temasek's first involvement was in 2007. when they invested in Merrill Lynch. But when Merrill Lynch was bought over by BoA in 2008, and Temasek became a minority share holder from a majority, with 13% of stakes in Merrill Lynch.

Analysts sas the move was in line with Temasek's tweaking of its long-term investment strategy to focus more on Asia and emerging markets such as Brazil and Russia. It will, in turn, reduce emphasis on developed countries such as the United States and Europe.


But the problem of selling shares at a loss is that the money belongs to us, Singaporeans. As a investment company wholly owned by the Singapore Governmnet, all her money comes from us, the taxpayers. So when they lose money, it will be us, our next generation, who will suffer.

How could they have been so "careless", to lose billions? And when will they then treat it as a grave matter, and it was not long ago that MM Lee said investments were long term ones, 30-50 years?