atans1

GIC: Waz the point?

In GIC on 04/10/2010 at 5:14 am

My dig at GIC and VB got a response that implied I didn’t know the theory about judging results by the entire portfolio http://atans1.wordpress.com/2010/10/01/gics-loss-on-ubs-and-citi-investment/

If GIC and our “constructive”, “nation building” media treat us S’poreans as morons, as this piece (albeit too rhetorical for my taste) points out, I don’t see why I should try to analyse  its portfolio performance. Disrespect begets disrespect.

The GIC report doesn’t give the data to make  a meaningful analysis. Now I am not asking for  more transparency, there could be gd national security grounds for being opaque. True Norway’s SWF is very transparent but Norway doesn’t have our neighbours: one with a record of aggression against its citizens, and other countries, and two jealous abt S’pore’s performance.

But MSM, GIC stop spinning that GIC’s performance can be analysed from the data provided.

BTW for the record, in January this year, NYT reported “The Government of Singapore Investment Corporation, which made a $575 million secondary loan, and invested as much as $200 million in equity, stands to lose all of that,” in an investment in NY City.http://atans1.wordpress.com/2010/01/27/gic-ny-loss-us100m-more/

Translated into S$, this is juz over S$1bn: can buy lots of abalone, sea cucumber and other goodies d for social welfare cases; or fund two-and-a-half Kiddie Games.

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  1. Maybe our smartass Vivian had the foresight to see the loss coming, that’s why he was prudent enough to question whether those on PA expect to have their meals at the hawker centre, foodcourt or restaurant.

    By the way, even if they made tonnes of profit from their investments, the abalone, sea cucumber and other goodies was never meant for any of us lesser mortals to enjoy in the first place.

    I suppose they played smart with our hard earned CPF monies to invest, profits for them to enjoy and losses for us to keep. That is how I see it.

    Until today I still don’t comprehend the real reasons why the father and wife had to be put in charge of all these investments !

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