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...
Public Order Act undermines freedom of expression and assembly
Maruah would like to express its concern with the amendment to the Public Order Act. We would like to emphasize the practicality of the new rules. Hong Lim Park is a public place. We believe that organizers do not have the authority to exclude anyone from the park, even if they wanted to. Are we arguably, being insincere in...
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