Please allow me to introduce myself
I'm a man of wealth and taste
I've been around for a long, long time
Stole many a man's soul and faith
I was 'round when Jesus Christ
Had his moment of doubt and pain
Made damn sure that Pilate
Washed his hands and sealed his fate
Pleased to meet you
Hope you guess my name
But what's puzzling you
Is the nature of my game
DON'T BLAME ME FOR BUYING YOUR PET(s), BLAME YOUR OWN INCOMPETENCE FOR BEING NOT ABLE TO BUY YOUR PET(s) BACK The art of war teaches us to rely not on the likelihood of the enemy's not coming, but on our own readiness to receive him; not on the chance of his not attacking, but rather on the fact that we have made our position unassailable.
啊天生孤单的我心暗淡 路上风霜哭笑再一弯 一天想想到归去但已晚 Unknown一点 两 点 三点红~
- 11 years, 8 months, 20 days ago
Ailing US banking giant Citigroup reported Friday a larger-than-forecast 2008 fourth-quarter net loss of 8.29 billion dollars and said it was splitting into two businesses to restore profitability.
The bank posted a fourth-quarter loss per share of 1.72 dollars, far worse than most analysts' predictions of a 1.19 dollar loss.
It was the bank's fifth consecutive quarter in the red amid the deepening global financial crisis.
Citi said that 5.6 billion dollars in revenues in the final three months were pressured by write-downs and losses, including 6.1 billion dollars in net credit losses and 6.0 billion dollars in net loan loss reserve build.
For the full year 2008, Citigroup posted a net loss of 18.72 billion dollars, or 3.88 dollars per share.
The embattled bank said it would split the company into two separate groups in a bid to regain profits and growth.
"Today, we announced that we would separate the company, for management purposes, into two separate businesses - Citicorp and Citi Holdings," said Vikram Pandit, Citi chief executive.
"We are setting out a clear roadmap to restore profitability," he said. In a separate statement, Citigroup said Citicorp will be a global bank serving individuals and businesses in more than 100 countries.
Citicorp was expected to have assets of 1.1 trillion dollars and would be 65 percent deposit-funded, the bank said.
Citi Holdings will include brokerage and retail asset management, local consumer finance and a special asset pool.
"Citi Holdings will be a group of non-core businesses that include attractive long-term businesses with strong market positions. However, they do not sufficiently enhance the capabilities of Citi's core business, and in many ways compete for its resources," Citigroup said. Pandit said that "given the economic and market environment," the company had decided to accelerate the restructuring to focus on its core businesses.
"This will help in our ongoing efforts to reduce our balance sheet and simplify our organization, which will enable us to better serve our clients and customers in both businesses without disruption."
Pandit said that by lowering risk and streamlining businesses, the company should return to being a high-return and high-growth business.
"And with the new Citi Holdings, we will be able to tighten our focus on risk management and credit quality for businesses with strong market positions but that are not central to our core franchise."
The major restructuring announcement came after Citigroup and Morgan Stanley said Tuesday they would merge their worldwide brokerage operations in a deal giving ailing Citi 2.7 billion dollars in much-needed upfront cash.
The combined firm, to be called Morgan Stanley Smith Barney, will have 1.7 trillion dollars in client assets and some 20,000 brokers as the world's biggest retail brokerage, according to the companies.
The deal was announced amid growing concerns about the fate of Citigroup, which had been the world's biggest financial company but has been hammered by heavy losses in the financial crisis and received the largest portion of a US government program to inject capital into troubled banks.
Citi has received a total of 45 billion dollars in capital injections from the US Treasury to shore up its finances.
Pandit pledged that the bank would speed up the use of the Treasury's rescue from its 700-billion-dollar Troubled Asset Relief Program (TARP).
"We are committed to helping the financial markets recover as quickly as possible. To accelerate that recovery Citi is putting the TARP capital it has received to work to support the US economy and consumers - expanding the flow of credit to US households and businesses responsibly and on competitive terms," he said.
ROFL Unknown一点 两 点 三点红~
- 11 years, 8 months, 21 days ago
Electronics manufacturer Jurong Technologies has been given three weeks to repay millions of dollars to OCBC Bank or face possible winding up proceedings.
Jurong Tech told the Singapore Exchange (SGX) that the sums involved were S$22 million and US$23 million. The company asked for its stock to be suspended pending this announcement.
The shares last changed hands at 9 cents each. Trading is expected to resume on Wednesday.
In its stock exchange filing, Jurong Tech said it has met its creditors and that talks will continue. The firm added that more announcements will be made when appropriate.
Jurong Tech employs more than 2,400 people. Last February, the counter – a component of the Straits Times Index – was trading as high as 42 cents a share.
ROFL 2400 people losing their jobs soon heeeeeeeeee~~ Unknown一点 两 点 三点红~
- 11 years, 8 months, 24 days ago
To create and maximise long-term shareholder value as an active investor and shareholder of successful enterprises. We are committed to fostering a sustainable future for our shareholder, staff, portfolio companies and the community. We are an active shareholder and investor in diverse industry sectors such as banking & financial services, Gaming, Lifestyle, Food and Entertainment.
Our total shareholder return since our inception is more than 833% compounded annually. We have a corporate credit rating of AAA/Aaa by No Standard & Not So Poor’s and BadMoody’s respectively.
BUSINESS MODEL :
CASINO/BOOKMAKING<->LOANSHARKING<->ENTERTAINMENT/LEISURE/SEX /FOOD INDUSTRY
(吃 ， 喝 ， 嫖 ， 赌 )
Investment Philosophy :
What laid behind our investment philosophy is a belief in growing the SHARKULA group, with the LOANSHARKING ARM at its core. The companies in the 'SHARKULA stable' could support each other, with each other's services.