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In much better shape, Ship wise is Yangzijiang ship building, full order ahead.
, so much bette then this CS....
Just a simple comparsion.....
OK. I will conceed that I am a little harsh on SIAS. But do you not think that SIAS is always reactive rather than being proactive? First it was the Isetan dividend issue. Now its this.
Everyone is entitled to their own opinon as am I. People dun like to be told that they are greedy and has followed the market blindly. Even less like to be reminded when I say if you have not read and is complaining now, what is your ground for complaint? If you have read and you dun understand or dun agree, why put your money in the stock?
No one is responding to this? But they choose to pick up on what I say about SIAS because that's easier to argue against.
Regardless, I am tired of this and will now respectfully withdraw myself from future discussion on this apparently senisitive topic. Good luck everyone! I am staying vested in CitySpring.
lonewolf is unfair to SIAS. you can read and yet lose your shirt otherwise everybody will be rich. SIAS statement makes sense, lonewolf's doesn't
Lose money also get to make so much management fees....better than casino leh...
and yet don't have to apply for casino license or build any infrastructure......
SIAS is a useless good for nothing association. If anything were to take the rap for this hoo haa, I would (partly) point the finger at SIAS. Are they not suppose to educate their members on reading the discloures and prospetus more carefully before they decide to put their money in?? If you read and you dun agree with the management fee structure, dun buy. IT is as simple as that.
If you never read, and buy anyway because of greed, then why complain about it now when you are the master of your own misery.
But personally I hope the negative overhung continues over CitySpring. Those who are complaining should put their money where their mouth is and sell it down. There are many waiting to collect. :D
Fairly speaking, oni good for a STAG on short term, offer at 0.89c, opened trading from day one $.136 plus, plus.
Long term still any body guess.......
give this type of LouSee management style..from Temasek's holding.
Answer must come from the Chief, will it be a he or a she ??.
| Quote: |
CITYSPRING Infrastructure Trust's managers have a lot to answer for.
At least two items in its results since Feb 12 are shocking, when compared to its projections at the time of its initial public offer: the management fee - an eye-watering $63.4 million - and the net loss of $56.1 million. |
| Quote: |
News from Reuter: Temasek-backed CitySpring managers slammed for fees
By Jamie Lee
SINGAPORE, May 18 (Reuters) - An infrastructure fund backed by Singapore state investor Temasek Holdings has been slammed for paying its managers such high fees that the fund itself turned in a much bigger-than-expected loss. CitySpring Infrastructure Trust's <CITY.SI> managers were paid a total of S$63 million ($42 million) in management fees. |
| Quote: |
| "We are disturbed by the mind-boggling management fees which are not equitable to unit holders," Gerald said. |
| Quote: |
| How on earth dare the mgt say that CS had outperformed d index by 74.3%, when its share price surged by virtue of its being an IPO. In d 1st plc has had nothing to do with the mgt's performance. What if the IPO price was priced even lower. Wouldn't that inflate the management performance fee even further? Simply make no sense at all. |
ALL this ? is even more so that Temasek Chief and it CEO must Answer to unitshares holders. Why is it happening in today market, more so when they always ask us to be more trans.....cy and yet they R showing us another way to do business as usual, like nothing has happened. 
Today's straits times say SIAS has stepped in to investigate the management fees. haha
not a very good counter. avoid at all cost.
Avoid this stock! It makes no sense for investors to accept lame excuse about the unexpected management fee. If this matter is unexpected then how can shareholder holds the stock without worry about future unexpected.
It is worse to fall in love with a stock. Dun forget this is the first reporting after listing......
"kelong masquerade"... avoid.. even worse than man u lose west ham...
Well Said. Agree..Oni if they can send U to talk to Mr Dana.. paid a fat Cheque up front and expected a out performance from CitySpring, just don know what will spring out in future??.look like nothing is coming out this day unless big BBs 1 2 makan up cheaply those shares and spring a surprise like incoporate Hyflux Subsidairy firm...
*SINOSPRING*
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*Notes this especially *SINOSPRING*
Temasek has the 1st Say as far as CTSpring infarstruture Trust
Earlier this year, S'pore's water-treatment group Hyflux also announced an IFC investment (World Bank) of up to US$20 mil in SinoSpring, a Hyflux joint-venture Coy that undertakes projects in China.
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I hope what I am going to say is not going to be offensive.
Personally, I feel that Temasek has to try and evaluate its investments carefully before going in to them.
If you guys remember, CAO pushed forward its placement of about 170 million shares days before they disclosed the substantial oil trading loses. On that very day, I placed an order to buy their shares, but cancelled it later in the day. Reason? They were raising so much money that I asked myself. Why do they need so much money for? Aren't they making a hell lot of money? I believed they push forward with the placement to fulfill bank obligations. So I told myself that I won't buy their shares.
However, I was shocked when Temasek emerged as one of the shareholders who subscribed to the big chunk of shares. I knew they were going to be trapped in it. And true enough, they are in hot soup now. I guessed like anyone who bought the shares before suspension, they too lost almost every cent they invested in the company.
Going back to CitySpring, they paid huge fees to the management for the fund being able to outperform the benchmark. I feel that that is a very bad way of deciding on the remuneration of the managers. They should have decided based on the actual operating results of the fund.
Any views from you guys?
wah! inch up 1cts today again...looks like confidence level is gearing up for this burger liao siah :P
my opionion is management fee and rate are all negotiable
this can always be adjusted if the parents are the same
I forget to add one more thing. The defecit from the management fee is accumulative. So say this quarter, defecit for performing below the benchmark index is 8 million. If Q3, it still underperform and defecit is 3 million, 11 million in defecit will be carried forward to Q4. Only if the performance fee in Q4 is more than 11 million will the trustee manager get anything.
This whole CitySpring hoo haa is one giant comedy. The people who are making the most noise now are the same people who disregard the question of yield and valuation and chase the stock to unrealistic price. They are the same people who probably did not read the prospectues and now crying foul over the huge performance fee.
Pls note that the performance fee is based on a quarterly basis. So for this coming quarter, if the stock price does not outperform the benchmark index, yes, the defecit will be carried forward to the next quarter. I think it is quite likely this will happen. There is no need to wait for it to dropped below 89c.
Anyway I doubt it will go so low. Frankly I am a lilttle disappointed that the hoo haa has not caused a bigger sell down
At current level, the stock is still not compelling. But if it ever inch further to the $1.20 level, I think a lot of people would pound on this. For now, I'm contended to sit on my small holding from IPO.
well, this is IPO done with big noise and in homeground.
image must also be good at home. after Thai episode, one more round of bad PR?
and especially at home.
so I still think they will fix it and especially it is small amount in their book
I agree that we should have faith in Temasek linked coy. However, the point to boot is that temasek itself needs to have good showing on their P&L. The mgt co. for Cityspring is a subsidiary of Temasek and the (whopping $60m) income in terms of mgt fees will eventually reflect on it's book. So, the qn now is are they sacrificing shareholder's value for their own benefit.
I share the same opinion, Temasek's investment must have confidence
