TEMASEK

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?

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TEMASEK HOLDINGS INCREASES NET PORTFOLIO VALUE AS OF MAR 2017

Temasek Holdings has increased its net portfolio value from $242 billion (US$180 billion) to $275 billion (US$197 billion). This means Temasek's Total Shareholder Return is 13.4% this year, a bounce upwards from a 9% decline from a dismal performance last year.

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GOVT DOES NOT INTERFERE WITH TEMASEK SUCCESSION PLANNING? SURE BOH?

Indranee Rajah, the Senior Minister of State for Finance said in Parliament today that the Government does not interfere with the succession planning of Temasek leadership.She indicated that the state investment company operates as a commercial entity, and thus, the Government doe snot interfere with the management of Temasek.

Finding it hard to believe this statement though. Temasek is a STATE investment company, that in itself already shows that the government will hold some interest in it. If they don't interefere with succession planning, then isn't this a lack of responsibility on the government's part?

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WHISTLEBLOWER SHEDS LIGHT ON UNFAIR KEPPEL CORP RETRENCHMENTS PAYOUTS

Thank you for calling the bluff of both Temasek and GIC and I would like to share the same plight of another group of affected workers by Temasek-owned subsidiary, Keppel Corporation which is helm by former Minister for Labor, Lee Boon Yang. A group of workers have already previously been quietly retrenched over the last few months with grossly indecent payouts. Singaporean workers received equivalents of 2 weeks "compensation" for every year of service while PR and other EP, S Pass holders obtained a month worth of salary for every year of service. The highest payout of $70,000 went to a foreigner with more than 20 years of service. This effectively went against the established 'Tripartite Guidelines' that caps 25 years at most!

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ECONOMIST: UNLIKELY THERE IS A BLACK HOLE IN S'PORE GOVT FINANCES

Global financial markets are in turmoil so as night follows day, the season of that big black hole in the Singapore government finances is here again. According to a local blogger, the shortfall is close to $200b while in the recent past, a China-based American academic thought the black hole was $500b or more. In truth, if there was really a black hole of $200b to $500b, it would have eliminated the NIRC provided in the annual budgets which means no Pioneer Generation Package for example. It would also have caused significant revisions to the IMF country assessment of Singapore and it would have removed Singapore’s AAA credit rating.

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KOPITIAM TALK: TEMASEK HAS NO EXIT STRATEGY FOR ROTTEN INVESTMENTS?

Ah Kow: Wa lau eh. Singapore SWFs damn sia sway. Can anyhow claim make a lot of money but no need to show any proof. Ahmad: GIC is worse then Temasek because it no need to show even one single investment using our CPF. PAP create law say no need to show how money invested then Singaporeans bodoh bodoh repeat like parrot “law say no need to show investment”. Ha ha.

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TEMASEK HOLDING'S PORTFOLIO TO BE WIPEOUT IN NEXT FINANCIAL CRISIS?

Two months ago, Temasek reported a one year shareholder return of 19.2% for FY 2015. Its portfolio value (PV) increased by $43 billion to $266 billion and as usual, Temasek reported an unbelievable 16% compounded return since 1974. On closer scrutiny, most of the $43 billion increase came from its 10 largest listed investments valued at about $112 billion on 31 March 2015 (table below). Stock markets seem to have signaled a sharp correction ahead and the likelihood of Temasek’s portfolio being wiped out is increasing by the day.

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TEMASEK HOLDING'S PROFITS GAIN, S'POREAN'S CPF LOSS?

Although the reports state that the SSGS proceeds are not passed to Temasek Holdings for management and it manages its own assets which do not contain any CPF monies, Temasek Holdings pools its assets with the rest of the Government’s funds. So, how do we know for sure, especially in the early years, as to whether the Government’s injections into Temasek Holdings do include CPF funds? To date, a total of $35 billion plus an undisclosed sum in 2011 were pumped into the investment vessel.

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ROY NGERNG: 1 YEAR AFTER PM LEE SUED ME, GOVT FINALLY ADMITS CPF FUNDS INVESTED IN GIC

Today is one year since I was sued for defamation by the Singapore prime minister. Since then, the government admitted for the first time that it has been taking Singaporeans’ CPF retirement funds to invest in the GIC. Previously, the government has kept denying this. Also, more and more has been revealed. The government claims that Temasek does not invest our CPF but it has been found that the government had taken our CPF to fund the construction of infrastructure then gave them to Temasek to manage.

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