Singapore invests in Swiss bank UBS December 12, 2007
Posted by blogerita in : Investment , trackback
Singapore: The Government of Singapore investment Corporation (GIC) has made its largest single investment to purchase a 9% stake in Swiss’ UBS bank. The investment is worth 11 billion Swiss franc. This deal could make GIC as the largest shareholder in the UBS bank.
On the same day, UBS bank announced that it had suffered losses of US$10 billion due to sub-prime mortgage crisis in United States. It is said that UBS bank is among the worst hit in this sub-prime crisis.
Blogerita says:
Singapore is always ahead of its neighbours. Always making wise and timely investment. Congratulations to GIC. Let’s this investment makes the other neighbouring countries to open up and make more aggressive and wise investment oversea.
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