It's good for GIC to realise that we cannot go aggressive in market investment without any safeguard all the time. But Temasek Holdings (under Madam Ho Ching) read the situation differently, thus suffered big losses over the years. However, the PAP fails to understand/appreciate one simple fact is that "investment" is not all about "money". How about "investment" in a relation between "the people and the government" in which the PAP government failed miserably in the last decade. Sad to acknowledge the fact - lack of courage to admit mistakes and seek people's forgiveness sincerely.
For a SWF, performance of 3.9% over 20 years is nothing to trumpet about, no wonder GIC is so shy and secretive about its Fund.This brings into question the quality and competence of its Board of Directors.The people expect GIC, supposedly staffed with the best brains in the world, to be smarter and more capable than them in investments,very malu for Singaporeans, esp with the billion losses edged into our minds.
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