Category Archives: GIC

GIC likely to incur record losses in FY2023

Posted on February 5, 2023 by Phillip Ang

GIC is most active state-owned investor for fourth year running: report https://www.businesstimes.com.sg/…/gic-most-active… Norway’s gigantic sovereign wealth fund loses a record $164 billion, citing ‘very unusual’ year https://www.cnbc.com/…/norways-sovereign-wealth-fund…

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Is Temasek?GIC participating in Adani’s US$10 bil fundraising?

Posted on February 5, 2023 by Phillip Ang

Adani Group was reported to be “deeply overleveraged” in August 2022. 2 months later, Adani was reported to be in talks with Temasek, GIC and other investors to raise US$10 bil.

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Will Temasek, GIC fall victim to the ‘largest con in corporate history’?

Posted on January 27, 2023 by Phillip Ang
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How state propaganda shapes Singaoreans’ perception of GIC

Posted on January 3, 2023 by Phillip Ang

When GIC makes money, MSM could even disclose the amount invested and the current value. But when it comes to losers, details are always lacking. No wonder Singaporeans continue to perceive GIC as a fund manager par excellence. (Please note … Continue reading →

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Are GIC’s long-term investments sitting on mega forex losses?

Posted on January 3, 2023 by Phillip Ang

Singaporeans should demand for transparency and not blindly trust the government. Is it not dumber than dumb for Singaporeans to accept the opaque management of more than a trillion dollars in reserves, money which belongs to all of us collectively?

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GBP1 = S$1 soon? British pound has been falling for 6 decades

Posted on December 26, 2022 by Phillip Ang

GIC has repeatedly warned of low returns and high risks since years ago. But it has been investing as if risks are negligible; making headlines with multi-billion dollar deals. It does not have to account nor update Singaporeans on these … Continue reading →

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Posted on December 20, 2022 by Phillip Ang

GIC had invested in Affirm pre-IPO and increased its shareholdings in 2022 even as prices collapsed. Affirm has lost 94% of its value from its high and trading at about 80% below its $49 IPO price; a record low. While … Continue reading →

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Less reserves should be invested in corrupt countries, likely to suffer permanent forex losses (1)

Posted on December 20, 2022 by Phillip Ang

The political and forex risks are just too high to invest increasing billions in corrupt countries. Investment/forex losses will ultimately affect GIC’s ability to return CPF monies. Why is the PAP govt so concerned about corruption in Singapore but when … Continue reading →

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Less reserves should be invested in corrupt countries, likely to suffer permanent forex losses

Posted on December 20, 2022 by Phillip Ang

Something is clearly amiss. Why is a supposedly whiter-than-white government pouring increasing billions into a corrupt country like India?

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Temasek, GIC should reduce investments in corrupt countries, suffer hug forex loss

Posted on December 20, 2022 by Phillip Ang

To benefit Singaporeans, profits/dividends of foreign investments have to be converted to SGD. Did Temasek and GIC factor potential mega losses in their foreign investments in corrupt countries? Is their inability to divest unprofitable investments with huge forex losses one … Continue reading →

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