SIA is selling its entire 49% stake in VS for a total sum of S$440 which it acquired 12 years ago for $1.2 Billion. Although SIA has lost about $800 million in the investment, it is considered lucky that Delta Airlines is interested in the offer.
SIA said the sale will result in a profit being booked in its account.
SIA share price jumped 9 cents to $10.84 on a thin volume of 255,000 shares transacted by 11 am this morning.
When Dr. Cheong the then CEO of SIA bought the stake from Branson, he told the media he was very happy to have parted with the S$1.2 billion. He, at that time considered it a good investment.
So simple as ABC and I could have been the CEO and the love of all shareholders.
10 comments:
Botak can still smile somemore (in your picture).
Sure he can still smile because he is no longer with SIA. He is now laughing his way to OCBC ha ha.
Civil servants are no match for real businessmen. Bloody GLCs bosses play with others' money. If it is their own money, their balls will be shrink
I remember they sold SIA building at the beginning of a property boom.
Buy OCBC, sell SIA
SIA building remains unsold.
Botak was ceo SIA and now he is Deputy Chairman of OCBC,yet you recommend people to buy OCBC??
OCBC is doing well. It has more upside than SIA. SIA is stagnant. If market comes down....it will be in trouble.
I remember reading in a report that Botak sealed the deal with Richard in a breakfast at a hotel while writing the offer price on a piece of tissue paper.
Anyway I will not support OCBC because when I started my career, it rejected my credit card application.
Anonymous 12/12/12
SIA building remains unsold.
Ayio SIA building oredi sold in 2006 for $343 million. Idiotic to sell in 2006 becos its value is now $1 billion.
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