GIC chut pattern, comes up with non-existent ‘combined strategy’ after record loss in a CPF investment
I refer to “GIC pares stake in UBS at a loss; combined strategy with Citigroup sees positive return”. link GIC should not attempt to mislead Singaporeans by linking an individual losing investment (UBS) to another profitable one (Citi). Fact: GIC never once mentioned any combined strategy in 2007 or 2008 when it speculated...
Elderly poor: 10 damning statistics?
Elderly workers: Many working out of need I refer to Ng Kok Hoe’s article “Elderly workers: Many working out of need, not out of choice” (Straits Times, May 18). More than half work to meet living expenses? It states that “When the National Survey of Senior Citizens asked elderly people in 2011 why they continued to...
Biggest CPF investment suffers massive loss
I refer to Bloomberg article, “Disappointed with UBS loss, Singapore’s GIC fund cuts stake”. [ link ] GIC is now paying the price for speculating in UBS at the height of the subprime crisis. With government blessing, GIC had pumped in S$14,000,000,000 into the unknown only 3 days after it had received an SOS from UBS...
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