I might be overreacting or wrong here, because I do not know
what percentage of Temasek funds belong to the MAS, which
ultimately belongs to CPF members.
If all our CPF funds in MAS is placed in Temasek, I would be
concern about my money. Whether they can payout our retirement
money when it's time for us to retire?
In 2006 CPF has "Long Term Investments" of "$108,096 millions" in
it's Balance Sheet.
In 2006 MAS owes CPF Board $108,096 millions (under 10. Long Term
Investments) in it's Balance Sheet.
Temasek obtains it's funding from MAS and Temasek's Shareholder's
Equity in the Group Balance Sheet 2006 is $90,630 million.
There is a shortfall of $17,466 millions ($108,096 -
$90,630), I wonder with the current investment strategy Temasek is
making, will the CPF Board be able to meet all future liabilities
to it's members when they fall due (without leading to inflation,
as MAS could always increase the money supply to meet it's
liabilities to CPF Board).
Of course this is all
hypothetical, as I do not know the extent of funding MAS extends to
Temasek. But if all the Long Term Investments in CPF Board goes to
Temasek, there might be a cause for concern.
Everything stated here is hypothetical, so readers should exercise
caution interpreting the figures shown, and not presume that they
are all facts. I made alot of assumptions, so I could be wrong in
my analysis.
Source:
CPF Board
Source:
CPF Board
Source:
Temasek
