good news gospel for CHEEISM!!

24/7 prayer sexsion by master chee, the new age founder and messiah of CHEEISM notorious for unorthodox practice of YAYAPAPAYAISM had finally achieved fruition. GIC (GOV I C or gov wanna die) kena hit by bankrupting news!! their investment in newyork ended up kosong. not kopi or teh kosong but KOSONG kosong!

chum liao! if GOV I C's investment went kapoot, it means peesailanders sure would be at the receiving ends when the hierachy filters down all the KOSONG KOSONG.

would 2010 begin with KOSONG KOSONG? what if the 2 IRs also commence running kosong2? then how huh? how leh?

as usual KOSONG KOSONG to peesailand and lagi kosong kosong to peasants are actually prayer answered if u believe in CHEEISM. master chee's YAYAPAPAYAISM would be rolling their ranting wheel of KOSONG soon. it's not the mystic 6 sacred words of OM MA NI PAD ME HOM. it's cheeism yayapapaya new age chant:

KONG MO NI PAY ME KOSONG....

like my li'l brother sighing regretful whine : chui guo..chui guo...

http://www.straitstimes.com/Breaking...ry_475954.html

ST

Jan 11, 2010

GIC lost on NY property
By Robin Chan

GIC had confirmed to The Straits Times that it 'recognised the losses' on its investment last year in Manhattan's Stuyvesant Town and Peter Cooper Village (above), two enormous housing apartment blocks bought for US$5.4 billion. -- PHOTO: AFP


THE Government of Singapore Investment Corporation (GIC) has confirmed that it incurred losses from an investment in a prime New York property project after the American owners defaulted on a debt payment at the weekend.

GIC is believed to have written off over US$575 million (S$798 million) and it confirmed to The Straits Times that it 'recognised the losses' on its investment last year in Manhattan's Stuyvesant Town and Peter Cooper Village, two enormous housing apartment blocks bought for US$5.4 billion.

GIC did not reveal the exact losses it incurred.

The owners, a venture led by Tishman Speyer Properties and a unit of BlackRock, missed a bond payment on debt amounting to some US$16 million on Jan 8 to its lenders, who have begun their default process.

The Straits Times understands that GIC has written off the losses, which reports have estimated to be around US$575 million in debt and US$100 million to US$200 million in equity.

Real estate investments made up 12 per cent of GIC's asset mix as of its last report for the year ended 31 March 2009.

there are definitely more KOSONG KOSONGS but GOV I C could be trying their most endeavour efforts to cover up. sometime ignorant is a blessing. if peasants get wind of it, our pockets sure would be hit kosong. wow!! san chai..san chai....