The whole world is in financial turmoil, whatever investment today is slashed by 1/3 if not by 1/2 or totally busted. GIC and Temasek are not to be spare, same goes to all enterprises and investing businesses. It is therefore, unfair to keep pinpointing to your own country sovereign investment, which in one way or the other, suffered the same situation as most financial insitutions around the world. Even GIC or temasek is making a loss from taking risk, it is still surviving without borrowing. Unlike most organisation in the west that need to be bail out or face closure
However, having said all, GIC and Temasek are still in paper lost, not real lost yet. And our Govt are still giving job credits, educations, skill upgrading, rebates and retraining to sustain this crisis, now you tell me, which countries gives rebates, help citizens to find jobs and with free skill upgrading and pay too?
say what you want, the timing and the action taken by temasek and gic are stuff of homer simpson.
the crack signs are ominous when they pumped billions in. i am not sure if they are ill-advised or are super-confident of their decision when they decided to jumped in as saviour.
their response to this fiasco is also super arrogant; that they can withstand such hits for even 2-3 cycles and still be ok. having money is one thing; continue to be stupid and having this invincibility midset is quite another. it can be disastrous.
it is really unfortunate that none of the these keepers of singapore's monies came forward and admit to having made poor judgement in the recent investments.
this continued denial by these bunch of clowns will only plunge singapore into more follies in the future. and in the end, the loser are singaporeans.
Originally posted by lotus999:nobody is blaming them for the investment losses. we’re now talking about transparency and accountability.
what transparency and accountability are you toking about in a capitalism society, you know how the going concern acccounting run or not?? which organisations will give you full transparency and mind you, nobody is accountability for the losses accept the lost of his/her job. This is a capitalism commerce, organisation itself is a living body that breathe business of profit and lost in and out everyday, nobody goes to jail if the living body get sick or die, peoples will just lost their jobs.
And even they give you the transparency, are you still believeing it as real or massaged??? You can alway ask for their statement of account to view on, and unless you are holding 50% and above of shares you get the board transparency.