Category Archives: GIC

GIC – fund manager of CPF and state reserves – should disclose, reduce billion-dollar payroll expense

GIC – manager of CPF and state reserves – does not disclose it payroll/management costs and its actual performance is also unverifiable. But from available information, GIC’s payroll expense should easily exceed $1 billion annually.  This should be reduced because there … Continue reading

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PAP government prioritises investing billions over spending on citizens’ well-being

Over the past couple of years, PAP government has been increasing costs across the board for citizens to raise revenue. In reality, the government does have sufficient funds except that it has prioritized using them for investment instead of citizens’ well-being. For … Continue reading

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No reason for PAP to fear transparency unless GIC is concealing massive investment losses

I refer to Bloomberg article “$1 Trillion Fund Committed to U.K. No Matter What Brexit Outcome“. It was reported that Government Pension Fund Global, Norway’s SWF, made a record investment return last year.  Its funds are managed by Norges Bank … Continue reading

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Has the stage been set to reduce CPF Life payout post GE2020?

Undeniably, PAP is good at increasing our costs or confiscating money from our CPF. 😉 In recent years, GIC has been hinting at lower CPF Life payouts by constantly reminding Singaporeans that it was expecting lower returns. In 2014: In 2015, GIC … Continue reading

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Singaporeans taken for another ride: Imprudent spending = Prudent spending

Singaporeans should be wary of tweaks to legislations with regard to state finance. So long as GIC’s and Temasek’s books are off limits to everyone except a handful of ministers and PAP elites, Singaporeans will never know the true state of … Continue reading

Posted in FINANCE, GIC, POLITICS, TEMASEK | 3 Comments