Category Archives: GIC

How mainstream media help PAP masks poor performance of GIC

Like PAP, mainstream media journalists treat their readers as goondus and have been helping their paymaster conceal poor investments by Temasek and GIC.  Example: After GIC had sold Merrill Lynch Financial Centre in 2014, mainstream media published misleading articles which left readers to … Continue reading

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GIC, manager of CPF funds and state reserves, should not conceal lower S$ returns

Before 2010, GIC had disclosed annual returns in Singapore dollar. (GIC reports, see pg 10) In 2010, GIC decided to change its reporting currency from S$ to US$. There was no reason to change the reporting currency because all returns would … Continue reading

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Why did GIC conceal its cash position since FY2014?

GIC made ‘cash’ disappear by combining it with a different asset class. Former President KFC and current President Milo Gao/Kosong have pretended there are no issues despite such ‘funny’ business. 😦 (Image below posted on FB)

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Why did GIC conceal tens of billions in cash holdings after 2013?

Prior to 2013, GIC had reported its ‘Cash’ position every year. Table 1 2012/2013 report (pg 13) After 2013, GIC decided it was not in its interest to disclose its cash holdings. Table 2 2013/2014 Report (pg 14) What is GIC … Continue reading

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‘1GIC’ = 10 times Malaysia’s 1MDB?

Singaporeans should not be too preoccupied with Malaysia’s 1MDB scandal as we may have a bigger issue in our own backyard, ie tens of billion$ in concealed investment losses in GIC. GIC manages hundreds of billion$ in state reserves and CPF monies … Continue reading

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