PAP playing around with our reserves issuing blanket guarantee to foreign banks?
One week after Iceland faced bankruptcy, Singapore guaranteed $700 billions deposits of various currencies. This blanket guarantee included foreign banks which had financial troubles in hundreds of billions of dollars. (References: Monetary Authority of Singapore Press Release on 16 Oct. 2008 and Deputy Chairman of MAS Minister’s...
Analysts: Temasek’s rates of return not “particularly impressive”
Singaporeans were allowed a rare peek at how Temasek was doing with the monopoly money today. Analysts like APS Asset Management generally agree that the rates of return achieved were "respectable", but not "particularly impressive". Said one, "It's not a figure you can be jubilant about." Or use to justify the salary increases...
Badly needed CPF Reforms
Recently the govt announced another increase of CPF minimum sum(MS) to $131,000 from $123,000. For many who are unfamiliar, this sum seems somewhat astonishing and arbitrary but the rules and rationale for the minimum sum was laid out during Goh Chok Tong's time as PM in 2003. The goal was to raise minimum sum to $120K of...
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