Singapore's GIC Suffers $41.6 Billion Loss

Gattlinggun80 SG

CARRY ON

Herzog_Zwei SG

"cow father and cow mother" - only a 'swei-siao-hog' will have fathers and mothers from the Animal Farm.

Unfortunately, did the 'swei-siao-hog' became 'swei-siao' due to the impossible incestuous relationship betwen a cow father and cow mother to produce a hog ?

Is it any wonder that this hog has to live up to its 'swei-siao' reputation with a display of more stupidity, when the last one had confirmed the wrong lineage from hogs ?

If anyone is screw-up, it has to be the hog that pretend to be more 'swei-siao' then anyone else in this Speaker's Corner.

It does not take too much intelligence to note that a hog which is "swei-siao" cannot possibly be expected to understand the human intelligence with an iota of sincerity.

Afterall, a hog will always remain as a hog, when added the "swei-siao" element, is the false opinions of a "swei-siao-hog" worth anything ?

The pig sty is worse then the sewer, is that not the place where the hog enjoy wallowring its life away ?

You are the only one who have parents from Animal Farm: the pigs who shit you out of their anuses.

You have no interest in defending Singapore and kicking out the PAP smear gang.

Uncle4edgar SG

THIS IS NOT TRUE... GIC Singapore cannot lose US $41.6 billion first of all GIC and even TEMASEK does not have this amount of money. GIC TEMASEK does not have the wealth that this corporation claims to have. There are no investments of GIC TEMASEK that amounts to US $41.6 billion only U.S. based corporations are allowed to have this amount or INVESTMENT VALUE.

likedatosocan SG

Is this still considered above mediocre performance?

likedatosocan SG

Well, prove what you say, beyond reasonable doubt.

Bentsb05 SG

what straits times and other msm didn't tell you!

SINGAPORE -- Government of Singapore Investment Corp. suffered a loss around 59 billion Singapore dollars (US$41.6 billion) in the fiscal year ended March, making it one of the worst years for the sovereign wealth fund since it was established in 1981, a person familiar with the situation said Tuesday.

"The equities investments suffered the most, followed by falls in property valuations. It was one of the worst years ever," the person told Dow Jones Newswires.

The person said GIC's portfolio now stands around S$265 billion.

GIC is the world's fourth largest sovereign fund in terms of money managed, according to Deutsche Bank, with high-profile investments in Western financial institutions like Citigroup Inc. and UBS.

Earlier in the day, GIC said in its annual report that its portfolio lost more than 20% of its value in the last fiscal year.

However, it said, the recent rebound in global stock markets has helped it recover more than half of the loss.

The person said GIC's property valuations are also recovering strongly.

GIC said in the report that it had an annualized 5.7% return in U.S. dollar terms over the last 20 years from 7.8% a year earlier. Its nominal return over 20 years in Singapore dollar terms was 4.4% compared with 5.8% a year earlier.

It holds a 9% stake in UBS by way of preferred shares it bought in late 2007 for 11 billion Swiss francs ($11 billion).

who is this person???

if i say that i am familiar with the situation of GIC and that it has lost a trillion US dollar..isnt it better to quote me....??

anything lah....to make GIC or temasek look real bad....why not..next time quote me ok?

angel7030 SG

Don't forget the opportunity costs of the money with the private sector building businesses and creating high wage employment... but the cursed despot with a zombie wife and his asslicking cronies care for their own benefits more than that of the country...

Uncle, u forget to curse the son.

Rovingswordsman SG

Why is there no board of enquiry on the losses? What, US$41billion dollars is also peanuts? This is the chance for the government to show it is accountable for its action - the same bunch of people who made these stupid mistakes should not be allowed to keep their jobs to repeat the same costly mistakes ever again!!!

Arapahoe SG

The loss will continue to expand.........perharps one should note that Revenue stream from commercial lease hold for 2010 will suffered as most of the lease will expired end of this year and may not be renewed

Good luck.

Arapahoe SG

Put you in the same position and I don't think you can do any better.

It is partially the global economic meltdown that is affecting the GIC's capability to invest properly. The other being there's no good local MNC to invest in globally.

The other being there's no good local MNC to invest in globally.

perharps you should ask why is that? given that SG has all the expertised of Global Managers thru the years of working with MNC in Singapore?

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