GIC

Lawrence Wong Refused To Answer WP's Query On GIC And Temasek Salaries

Lawrence Wong Refused To Answer WP's Query On GIC And Temasek Salaries

Wong said that the “Government maintains an arms-length relationship with the companies and does not interfere in their operational decisions such as remuneration.” When they themselves are the Board of Directors in said company, how is it then possible not to interfere in the operation decisions such as remuneration?

Filed Under: 

MISLEADING ADVERTISEMENT ON RETURNS OF 12%?

In this connection, GIC’s latest 20 years’ and Temasek’s “from inception” annualised returns are 5.1 per cent (in US$ terms – lower if in S$ terms) and 16 per cent (in S$ terms), respectively. The highest return ever publicly disclosed by the GIC was 8.2 per cent (in S$ terms) for the 25 years from the GIC’s inception in 1981 till 2006.

So, how many fund managers in Singapore have been able to consistently give 12 per cent per annum returns, as described in the advertisement?

Filed Under: 

SDP: THIS IS HOW CPF & GIC SHOULD BE HELD ACCOUNTABLE & MANAGED

The suspicions of the people over our hard-earned CPF savings would not have arisen if the PAP had not reneged on its promises and, worse, kept Singaporeans guessing on how these funds are being managed. Such an approach needs to be corrected which is not a difficult thing to do. What we need is for the GIC to be fully accountable to the people and for the Government to keep its promises.

Filed Under: 

GIC PROFITABLE CITIBANK INVESTMENT WAS BASED ON PURE LUCK, NOT SKILL!

Time to set the record straight on GIC’s Citi investment: it was pure luck. In Jan 2008, GIC had invested US$6.88 billion in 7% convertible preferred securities with a conversion price of US$26.35, ie GIC saw value in Citi at US$26.35. But after only 14 months, Citi’s share price collapsed to below $1.

Filed Under: 

HUGE $10 BILLION LOSS BY GIC INVESTMENT & NOT A SINGLE ELECTED MP ASKS QUESTIONS?

Huh? So $10 billion loss in investments is just like that - nothing from any minister AT ALL?? Nothing? Zilch? Nada? It's not $10 leh. It's S $10 billion, you know?
$10 billion of Singaporeans' hard-earned money leh. Got nothing to say? 80+ MPs and not a single one is even interested to at least post about it on their Facebook page? No one? Not one MP?

Filed Under: 

HOW MUCH TAXPAYERS MONEY DID GIC LOSE IN FAILED UBS INVESTMENT?

I refer to the article “GIC pares stake in UBS at a loss; combined strategy with Citigroup sees positive return” (Straits Times, May 16). It states that “GIC, Singapore’s sovereign wealth fund, which invested in UBS to support it during the 2008/09 global financial crisis, said it has cut its stake in the bank at a loss, partly because of changes in the lender’s strategy and business. GIC sold a 2.4 per cent stake in the Swiss bank, paring its holding to 2.7 per cent from 5.1 per cent.” How much was the loss?

Filed Under: 

GIC RETAINED $61.5 BILLION OF S'POREANS CPF MONEY FOR PAST 20 YEARS

Over the years, PAP has become more brazen and has retained increasing BILLIONS in CPF returns to supplement the budget. Although GIC’s long term returns are about 6%, about 2.5% is confiscated by the government annually for a non-existent CPF guarantee. As a result, tens of billion$ have been lost by CPF members.

Filed Under: 

LOCAL ECONOMIST: GIC REAL RETURN FALLS, WHAT ABOUT OUR CPF RETURNS?

It states that “GIC’s 20-year annualised real rate of return – its most important benchmark – was 4 per cent for the financial year ended March 31, down from the 4.9 per cent in the previous year. This means that GIC enhanced its portfolio by an average return of 4 per cent per year, over and above the global inflation rate between April 1996 and March this year.”

Filed Under: 

Pages

Advertisement
Subscribe to RSS - GIC