TR EMERITUS

Last Thursday, we analyzed the Singapore balance sheets for 2009 and 2011 arriving at an implied valuation for GIC.  What really causes concern is that despite claims Temasek grew at 22% annually, Singapore Inc. managed only $30 billion SGD of net asset growth.  The growth in assets on the Singapore, Inc. balance sheet... 

So it’s official: Singapore’s Prime Minister has his doubts on raising wages in the country, because other countries, like the Philippines, are cheaper. The argument isn’t new: If we raise wages without raising productivity, companies will move out and Singapore will be hit with unemployment big time. But if we improve... 

The question I have gotten most often throughout my series on Singaporean public finances is: what does this mean for Singaporeans?  It certainly isn’t good but I doubt it is as bad as it could be. Let’s start with the bad news first.  Singaporean public finances display very worrying characteristics throughout their...