Home » Posts tagged with "GIC"
Posts tagged with "GIC"
GIC stands to lose S$800 million
Jan. 9 | Well, it wasn’t hard to see this coming. But take heart, fellow citizens: despite our tiny size, we are at the forefront of one of the most damaging financial tsunamis about to hit the world in 2010. Singapore Uncle Trader, “GIC at forefront of...
GIC may lose big on investment in apartments
Oct. 16 | Another big player in the restructuring talks could be Singapore’s GIC. The fund owns a $575 million mezzanine loan backed by the property, according to people familiar with the matter. Also, GIC owns about $100 million to $200 million in equity,...
GIC had anticipated crisis, says chairman
Sep. 29 | We had anticipated the crisis and taken precautionary action which mitigated losses in the ensuing bear markets. GIC Chairman, Tony Tan
Global crisis sparks Singapore fund shake-up
Sep. 1 | From the Financial Times: The Government of Singapore Investment Corporation, one of the world’s biggest sovereign wealth funds, on Monday announced a senior management shake-up prompted by concerns about protectionism and regulatory change in the...
Transparency? Does it serve purpose? – Lim Hwee Hua
Aug. 12 | We have to ask ourselves if transparency is an end in itself, or if it is the means to an end… If all our cards are revealed in pursuit of complete transparency, does that serve the purpose of having Temasek and the Government of Singapore Investment...
Who holds the sovereign wealth of this nation and why?
Jul. 30 | Sydney Morning Herald: SINGAPOREANS aren’t usually given to open criticism of the Lee family that has ruled them for half a century. Rightly or wrongly, some presume that in their tightly controlled island state, walls have ears, and one never knows...
Are you angry yet?
Jul. 23 | Andrew Loh Temasek Holdings seems to be caught in a cycle of bad and inept decision making. In a country which brooks no failure, it is a wonder that despite the failings of the past few years, no one – at all – in the sovereign wealth fund has been...
Help for workers over two years is miniscule compared to Temasek and GIC’s losses
Jun. 7 | The Government has spent over $1.1 billion from 2006 to 2008 helping low wage Singaporeans . Ministry of Manpower
GIC, Temasek and transparency
Jun. 5 | Ho Ching, Chief Executive of Temasek Holdings The latest revelation by Reuters that Temasek has off-loaded its stakes in Barclays Bank, resulting in an estimated loss of more than a billion dollars, is worrying. This comes on the heels of Temasek...
In a culture of secrecy, no courage is required
May. 17 | Ravi Philemon “A Temasek spokeswoman declined Friday to comment on the price the fund sold its shares for or the timing of the sale”, reported the Associated Press. Why should the secretive Temasek Holdings reveal such sensitive information to a...
PM Lee on Temasek, GIC and ministers’ salaries
Mar. 20 | This is the transcript of part of the interview which the British Broadcasting Corporation (BBC) had with Prime Minister Lee Hsien Loong.You can listen to the podcast of the interview here. Watch BBC’s report (on video) on Singapore’s economy here. BBC:...
MM Lee & Ho Ching make life difficult for PM Lee?
Mar. 20 | Life would be much easier for me if MM were not my father and Ho Ching were not my wife. But they’re there. This is the way Singapore has worked. Singaporeans have understood this is how the system works. And they’ll render judgment when elections...
Singapore’s GIC RE unfazed by $360m hit
Mar. 20 | From The Australian: IN less than a year, one of the world’s top 10 property investors, the Singapore-based GIC Real Estate (GIC RE), has lost more than $360 million in just two investments in Australia. The losses stem from the collapse in the...
GIC losses – foreign media more important than Parliament?
Mar. 16 | Leong Sze Hian The reply in parliament last month, to the question on GIC’s losses, was that it was “substantially lower” because of its more conservative lower risk portfolio. The actual loss amount was not revealed. It was only three weeks later,...
Citi Rescue Gives Prince, Singapore Sweeter Terms
Mar. 2 | It’s good to be a Saudi prince. And it’s good to be an investment company backed by the government of Singapore, or a former Citigroup chief executive. Bloomberg
Sense of balance when dealing with retrenchments
Mar. 1 | I know people say why didn’t you help the households more directly. But the right way to help people now is not to give them vouchers or coupons to spend, but to help them keep their jobs, and this is where the emphasis of the Budget was… —- If...
Losses but not “indisreputable”
Feb. 26 | This is not a disreputable record. The PM’s press secretary, on Temasek and the GIC’s performance
What the Temasek debacle reveals
Feb. 25 | Aloysius Foo A Temasek wrapped up in a mystery within the abyss of the Singapore economy Public displeasure should be directed correctly, for it to be effective. The recent revelation, that Temasek Holdings has lost 31 percent of its net portfolio value...
Reserves – more or less?
Feb. 23 | Notice: The organisers of the “Our Thoughts are Free” book launch has kindly requested that the announcement be removed from TOC. More details will be given at a later date. Leong Sze Hian Why can’t GIC’s losses be revealed like Temasek’s? I...
Blog Feature: Make it compulsory for President to make public his decisions
Feb. 19 | Today’s Blog Feature is from Gerald Giam, “Greater transparency needed for Presidential decisions”, on President Nathan approving the government’s draw on the reserves. Here are excerpts from Gerald’s post: Firstly, the President should be required...
No more 56-man years to know reserves
Feb. 18 | Straits Times: When you made the decision, did you have the information on like how big our reserves, how much of a draw this would be on the reserves…? President Nathan: Of course I have. Of course I have. Straits Times, 18 Feb 2009
Your money at work and the curious disappearing acts of the prime minister
Feb. 18 | Latest: The Government Gazette has revealed that changes have been made to polling districts. Such changes are part of the steps that need to be taken ahead of a General Election. (Straits Times) Andrew Loh “This is your money. You have a right...
Explanations were not called for
Feb. 18 | It would be presumptuous on my part to go forward and start to give explanations when explanations were not called for. President SR Nathan, when asked if he could have held the press conference before the start of the Budget debate (Straits Times,...
President Ong’s interview with Asiaweek – revisited
Feb. 18 | In light of President Nathan’s press conference where he explained why he approved the government’s request to use the reserves, we re-publish former President Ong Teng Cheong’s interview with AsiaWeek (10 March 2000) where he revealed the obstacles...
“My loyalty is, first and foremost, to the people of Singapore”
Feb. 18 | Jason Lee Watch the video of President Nathan’s press conference at the Istana below. An Elected President can do more to protect our interests – regardless of whether he is an executive or non-executive president. I became worried when I first...
GIC lost $33 billion, according to sources
Feb. 17 | Breaking News: THE registers of electors here are due for an update, and the Prime Minister has directed that the revision be done by April 30. (Straits Times) From Bloomberg: Feb. 17 (Bloomberg) – Government of Singapore Investment Corp., one...
Where is the President?
Feb. 16 | Mr Nathan, as President, you must take the initiative to release the above information for the public to know. You are a very close friend of Lee Kuan Yew. But he is not your boss. You do not need to save face for them by covering up their mistakes....
Blog Feature: Did Lim Hwee Hua say GIC lost 41% of investments?
Feb. 16 | Today’s blog feature is from Koh Choong Yong on his attendance of the recent Parliamentary debates and how Mrs Lim Hwee Hua had slipped up in revealing that the GIC had lost 41% of its investments. Excerpts: There was also one incident which I witnessed,...
Extraordinarily bad times
Feb. 15 | These are extraordinarily bad times for many Singaporeans. Littlespeck
The GIC tsunami next?
Feb. 11 | After Temasek comes the GIC tsunami GIC started the crisis with roughly Singapore $550 billion in reserves. My estimate is that it has lost about $190-$200 billion of that, leaving it with about $350 billion left. This amount is equivalent to 200 per...
Temasek, GIC… situation can change
Dec. 5 | The situation looks a lot gloomier now than when they went in but these are long-term investments. It looks under water now, but the situation can change. PM Lee on Temasek and GIC investments
Population and national investments – missing numbers
Sep. 29 | Leong Sze Hian / Columnist I refer to the Department of Statistics’ reply “Number of S’pore citizens growing” (ST, Sep 20) to Michael Eng’s letter “Is the population of Singapore citizens shrinking” (ST, Sep 18). It states that: The number...
