Business
Times - 12 Jul 2006
GIC's Average Annual Return 9.5% Over 25
Years
MM Lee discloses figure for first time, saying GIC has grown in
size, breadth and depth
By Chuang Peck Ming And Wong Wei Kong
(SINGAPORE) Minister Mentor Lee Kuan Yew disclosed for the first
time last night that the Government of Singapore Investment
Corporation (GIC) made a 'good' annual return averaging 9.5 per
cent in US dollar terms over the past 25 years.
Who said 4.5%? Is he asking for
trouble?
If mm lee said that the sky is red, then all must agree
that the sky is red.