Fri, Jun 11, 2010 - The Straits Times
GIC's shares in BP take a knock
by Gabriel Chen
OIL giant BP's ongoing share price slide is knocking Singapore's
publicly-traded investments.
The Government of Singapore Investment Corporation's (GIC)
shareholding in the company could have lost US$540 million (S$760
million) in value since May 1 as a result of the fallout from the
Gulf of Mexico oil spillage.
This figure is based on Bloomberg data which shows that, as of
May 1, GIC had 200.4 million shares in the British company worth
around US$1.68 billion. It also assumes GIC has not bought or sold
any more BP shares from that date until now.
