Comments on: Temasek Holdings to Raise Money From Bond Issue

By: Intheknow

Intheknow — Fri, 23 Oct 2009 07:43:47 +0000

pref shares may not ever be redeemed. so you are still subject to principal risk since pref share prices can move up and down.

By: Jasmin

Jasmin — Fri, 23 Oct 2009 03:04:46 +0000

Such bonds are meant for big fish or those with deep pockets.
This world is cold and cruel; no money no talk.

Compared such bonds (with min 250k etc), I would go for pref shares.

By: lioninvestor

lioninvestor — Thu, 22 Oct 2009 16:31:01 +0000

Hi VSL,

There are some stat board loans denominated in 10k that are sold on the SGX. LTA, HDB, JTC are some of them. Though the HDB bond I last saw has matured already.

By: VSL

VSL — Thu, 22 Oct 2009 02:28:29 +0000

Yes, there is a HDB 3-yr note just launched. Details at http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/0938879B58BA978A482576560020264E?OpenDocument.

Though the yield is not that great, I am prepared to go in as I trust HDB. Now, if only I can find $250k loose change.

Why doesn’t HDB issue notes in smaller bundles eg $10k for small retail investors? All these big govt organisations are after big fish. First Temasek, now HDB. No one cares a damn for the ikan bilis.

By: Jasmin

Jasmin — Wed, 21 Oct 2009 13:05:56 +0000

Yes, my concern is the US currency too. But why these bonds are not issued in SGD?

I saw from papers; HDB issued a 3 years notes with coupon at 1.55%pa (pse verify). This yield is so lousy!

By: DanielP

DanielP — Wed, 21 Oct 2009 10:41:34 +0000

I am abit unsure why retail investors would want to buy this bond. The minimum is US$250K, which is not a little sum of money. It is quoted in US$, a sophisticated investor would know how to hedge the US$/S$ exchange rate exposure,
a retail investor may not know. He could very well get less if the US$ depreciates, or vice versa.

If this was quoted in S$, then I agree the govt should allow us a bite, but I doubt it.

By: lioninvestor

lioninvestor — Wed, 21 Oct 2009 10:07:48 +0000

Hi Jasmin,

No chance at all. Taken up within a few hours.

By: Jasmin

Jasmin — Wed, 21 Oct 2009 04:21:51 +0000

Hi Lion Investor,
Isn’t it better to buy such bonds in the primary than secondary markets?

By: lioninvestor

lioninvestor — Wed, 21 Oct 2009 02:17:20 +0000

Hi Jasmin,

7% was actually sold to retail investors.

You can also buy it from the secondary market but need a minimum of $250k to transact, as with most other bonds traded on the secondary market.

By: Jasmin

Jasmin — Wed, 21 Oct 2009 01:00:12 +0000

http://news.asiaone.com/News/the%2BStraits%2BTimes/Story/A1Story20091021-174760.html

These bonds were sold out within hours!

Why Temasek does not offer retail investors a chance to buy its bonds?