| From Todayonline.com: The Government of Singapore Investment Corp (GIC) may be sitting on as much as $7.7 billion in unrealised losses from its investment in troubled Swiss bank UBS, based on calculations derived from its latest regulatory filing.
The GIC will convert 11 billion Swiss francs ($14.6 billion) worth of its UBS notes into 230.7 million ordinary shares of the bank on March 5, according to a regulatory filing in the United States on Wednesday........................................Full Article: Source |