China is behaving more and more like the imperial power of old?
In the just concluded Belt and Road Forum, China has chosen to invite the Heads of Government for some countries, and only a ministerial representative from others. How did China choose? One can only guess from the list that China has separated her close friends and allies, from the rest. Malaysia, Cambodia, Vietnam, Laos, Indonesia...
Tony Tan confident in UBS’ long-term growth potential but GIC endedup losing US$4b of our reserves
In a ST report, it said that GIC is facing a loss in excess of USD4b (S$5.6b) on its investment in UBS Group nine years ago. GIC cut its losses in UBS after selling 93 million shares at 16.10 Swiss francs each on Monday (15 May).GIC invested into UBS in late 2007 at the height of the toxic bond crisis brewing in the world. At...
SDP repeatedly warned about the UBS investment
The recent announcement that the GIC stood to lose in excess of $5.6 billion comes as no surprise. The Swiss bank had been plagued with problems and the SDP had warned on at least five separate occasions against the GIC investing in it. 1. As early as 2009, the SDP warned: “Either Dr Tony Tan (who was the GIC's executive director...
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