Lala81 Hypersonic November 10, 2011 Share November 10, 2011 This is why I can't accept G & T Co use so much of our money to bet on stocks and shares offshore. In fact, if they invest in SG stocks I think they yield is better. Also, money should not be used for investing only by G & T Co but should be used to expand on our Intellectual Prop by investing in our people. We cannot use money to grow money and only benefit the Exec of G & T... so small pool of people... Erm so many % of SG bluechips are already owned by Temasek. U want more ar ... Basically u want govt to give u more $$ lah. I also want! How to invest? - free HDB? Cheaper HDB maybe i support - R&D? Govt throwing lots of $$ there already? - Education? Everyone be a university graduate? Free education? - Healthcare and eldercare? Yes Govt can do more in this area ↡ Advertisement Link to post Share on other sites More sharing options...
Shull Turbocharged November 10, 2011 Share November 10, 2011 As much as i would like to believe what the MIW say about the safety of our CPF money.. i can't help to add 1 + 1 = 2 and somehow think that the raising of CPF min sum and withdrawal age is somehow related to the losses made by GIC/Temasick.. Link to post Share on other sites More sharing options...
Jasonjst 3rd Gear November 10, 2011 Share November 10, 2011 (edited) The Ex-CEO of Goldman's was the guy whose decision single handedly bankrupted MF Global ... Lol... If a company like Olympus wants to hide information. It's not that easy to find out. They fired their own company president for asking too much. And now they claim that only certain members of the company knew. Why big GICs invest in Olympus stock ? This kind of stock is for the Ah Pek / Ah Ma one lah how much can it growth ? Big GICs must be in market like those Iskandar project , HDB , MRTs and big infastructure type , mining , oil , gas , green energy ... all the big big one lah . Faking GICs only know how to complete with Ah Pek / Ah Ma industries in local market like NTUCs , Taxi , CCB go oversea all kena makan . Wow call themselve fund mangers and paid millions . Why dont you try hide your income tax n see they can find you or not ? Edited November 10, 2011 by Jasonjst Link to post Share on other sites More sharing options...
CKP 3rd Gear November 10, 2011 Author Share November 10, 2011 (edited) Though I am not pro gov, if you are sure you can do investments better than anyone in GIC, please call GIC to employ you coz you can make our CPF interest rate to earn higher than current. I am very happy if someone like you so capable works in GIC who able to make no losses in investments. I disagree. CPF interest rates are based on returns of the yield of the 10 year SG bond. Returns other investments, I think GIC keep for themselves and not for public. Edited November 10, 2011 by CKP Link to post Share on other sites More sharing options...
CKP 3rd Gear November 10, 2011 Author Share November 10, 2011 (edited) GIC said 'you win some, and lose some...', my answer to them: stop beating around, just show us what your wins, and loses, are.... simple GIC already have a standard reply to debunk you and anyone who question GIC. GIC manages its investment portfolio for the long term Letter from Lim Bee Khim Director (Corporate Communications) Ministry of Finance 04:46 AM Sep 23, 2011WE THANK Mr Chua Soo Kiat for asking, in the letter "Disclosure is important" (Sept 21), why the Government of Singapore Investment Corporation (GIC) does not disclose the amount of funds it manages and its annual profit and loss, unlike the Monetary Authority of Singapore (MAS) and Temasek Holdings. MAS, as Singapore's central bank, holds our Official Foreign Reserves, which are for publication. Temasek manages its own assets and publishes their full value together with other details on its financial statements. It obtains credit ratings and issues bonds to other investors on the basis of this information. GIC manages the Government's assets. We have publicly stated that it manages well over US$100 billion of assets. However, revealing the exact amount would, taken together with the published assets of MAS and Temasek, expose the full size of Singapore's financial reserves. This is against our national interest. It would make it easier for speculators to attack the Singapore dollar during periods of vulnerability. Further, our reserves are a strategic asset, especially for a small country with no natural resources or other assets. It would be unwise to reveal the exact amount at our disposal for defending our currency or for use in an emergency. How well GIC performs is not a secret. Its mandate is to preserve and enhance the international purchasing power of the reserves over the long term. Hence, it publishes its 20-year annualised real rate of return. GIC also reports its returns over five- and 10-year periods as intermediate measures of its performance. Mr Chua asked what is being done to "prevent a collapse in value" should a crisis hit again. GIC manages risk by investing in a well-diversified portfolio, with a balanced distribution of asset classes and their underlying business sectors and geographies. This, too, is why GIC's performance has to be measured on the basis of its overall portfolio rather than by how much it makes or loses on individual investments. GIC is a long-term investor, prepared to ride out cycles and disruptions in global markets. It keeps a watchful eye on potential economic and financial dislocations; it develops contingency plans to deal with various scenarios. Making major changes to its asset allocation with every prospective downturn and upturn would impair its performance and reduce its advantage as a long-term investor. In his letter, Mr Chua also alluded to the President's role. We would like to clarify that the President does not oversee the investment strategies of GIC, MAS or Temasek. Their investments are managed professionally and independently, and the respective boards are accountable for their overall investment performance. The President's role is to decide, after consulting the Council of Presidential Advisers, whether to approve the appointments of board members and the chief executive officers. Further information on these and other questions pertaining to our reserves is available on our website, at http://app.mof.gov.sg/reserves.aspx. Edited November 10, 2011 by CKP Link to post Share on other sites More sharing options...
CKP 3rd Gear November 10, 2011 Author Share November 10, 2011 As much as i would like to believe what the MIW say about the safety of our CPF money.. i can't help to add 1 + 1 = 2 and somehow think that the raising of CPF min sum and withdrawal age is somehow related to the losses made by GIC/Temasick.. Official reason is inflation for min sum, and life expectancy for withdrawl age. I see the obituraries, somehow the life expectancy does not seem so high as claimed. Link to post Share on other sites More sharing options...
Lala81 Hypersonic November 10, 2011 Share November 10, 2011 Why big GICs invest in Olympus stock ? This kind of stock is for the Ah Pek / Ah Ma one lah how much can it growth ? Big GICs must be in market like those Iskandar project , HDB , MRTs and big infastructure type , mining , oil , gas , green energy ... all the big big one lah . Faking GICs only know how to complete with Ah Pek / Ah Ma industries in local market like NTUCs , Taxi , CCB go oversea all kena makan . Wow call themselve fund mangers and paid millions . Why dont you try hide your income tax n see they can find you or not ? Maybe diversified portfolio? I frankly have no idea. Maybe they were holding onto some losses for years since the Japanese stock market has been stagnant for years. So every stock that GIC invest, u want us to hold a national referendum is it? Yes you can hide your income tax for a couple of years, if that is what u want to do ... Link to post Share on other sites More sharing options...
Lala81 Hypersonic November 10, 2011 Share November 10, 2011 It's well known the bigger the fund the harder it is to achieve returns. Link to post Share on other sites More sharing options...
Speedsun Clutched November 10, 2011 Share November 10, 2011 I disagree. CPF interest rates are based on returns of the yield of the 10 year SG bond. Returns other investments, I think GIC keep for themselves and not for public. Whether GIC keeps for itself or not, money profited from investments would become our country reserve. Could you remember the 1998 Asia financial crisis, why our currency was still very stable then but not some other countries? Link to post Share on other sites More sharing options...
Wasted 1st Gear November 10, 2011 Share November 10, 2011 its akin to gambling ... as long win more than you lose! Link to post Share on other sites More sharing options...
Wasted 1st Gear November 10, 2011 Share November 10, 2011 maybe GIC can create a gambling arm .... hire pro gamblers instead of fund managers / traders ... go whack all the casinos! Link to post Share on other sites More sharing options...
Curahee 1st Gear November 10, 2011 Share November 10, 2011 The Ex-CEO of Goldman's was the guy whose decision single handedly bankrupted MF Global ... Lol... If a company like Olympus wants to hide information. It's not that easy to find out. They fired their own company president for asking too much. And now they claim that only certain members of the company knew. Bankrupt MF global is small case, GS even have the ability to bankrupt Greece... A very scary company. http://www.gregpalast.com/lazy-ouzo-swilli...-sacked-greece/ Link to post Share on other sites More sharing options...
Lala81 Hypersonic November 10, 2011 Share November 10, 2011 Bankrupt MF global is small case, GS even have the ability to bankrupt Greece... A very scary company. http://www.gregpalast.com/lazy-ouzo-swilli...-sacked-greece/ GS earns a lot of $$ doing all these but they are the biggest dog now so no one dares to say anything from 2006-2008, they told their investors to bet one way while they bet the other way in subprime CDO/CDS Link to post Share on other sites More sharing options...
Ahtong 1st Gear November 10, 2011 Share November 10, 2011 Because GIC is managed by exceptionally elite talents of greater mortal pedigree, they managed to limit the damage to 100 mil. If any ordinary peasant was running the show, the losses would be in billions. Therefore GIC did not make a loss of 100 mil. They saved us billions. Next frivolous complaint please Link to post Share on other sites More sharing options...
Vulcann 6th Gear November 10, 2011 Share November 10, 2011 Have not read ST so not sure if this was reported but CNA and even Yahoo! local website also did not. Eerily silent... Media blockage? Link to post Share on other sites More sharing options...
Donut Supercharged November 10, 2011 Share November 10, 2011 I think this will be their worst investment, from est 2900 yen per share drop to est 580 yen per share... 80% loss! Seems like they touch anything will turn into sh*t. Imagine if im a ceo of a big company, gic come knocking on the door and wanna invest in my co, i will be very scared instead of happy. And guess who was the Chairman of GIC??? Our dear 36% President............... Link to post Share on other sites More sharing options...
Acemundo Supercharged November 10, 2011 Share November 10, 2011 This is why I can't accept G & T Co use so much of our money to bet on stocks and shares offshore. In fact, if they invest in SG stocks I think they yield is better. Also, money should not be used for investing only by G & T Co but should be used to expand on our Intellectual Prop by investing in our people. We cannot use money to grow money and only benefit the Exec of G & T... so small pool of people... i certainly cannot agree to this lassire faire method of investing our hard earned monies to only hope that the management of the invested companies do a good job. actually not just Temasek and GIC. I believe even EDB Joint Ventures lost a good deal of our state's monies in investments that turned wayward. example, my previous american company has EDB Joint Ventures as one of their major shareholders. Part of EDB strategy to take small startups, including those based in usa, to greater heights. the problem is that my ex company finally went bust after 5-6 years of sustained losses. i am sure EDB also lost quite a bit there. the bigger problem is i never foresee my previous company usa management to be capable of greater things after 1 year of joining them and i am appalled EDB had pumped in money and allowed this american company management team to continue running business without much accountability to EDB as major shareholder. if i would have my way, as a major shareholder, i would like to have representation in the board of director and in fact, would want to have a regular assessment of the operations and strategies of the company. i would not like to take a back seat only to realize a few years down the road that it is a bad investment. for such huge sum of monies invested, the management of the invested companies should be held accountable to me. Link to post Share on other sites More sharing options...
Curahee 1st Gear November 10, 2011 Share November 10, 2011 (edited) And guess who was the Chairman of GIC??? Our dear 36% President............... Even now GIC board of directors r mostly comprise of politician, ex politician and gov link co ppl... Do these ppl have the experience and know how to run a sovereign fund? Edited November 10, 2011 by Curahee ↡ Advertisement Link to post Share on other sites More sharing options...
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