[Rainforest]

Years ago parliament has passed the bill to allow Temasek to dip into our CPF cookie jar and no debate at all, it was wuietly tabled and passed. Discuss..

O
M
G


Sigh....
Hmmm
Hmmm
Hmmmm

[debono]

just like they chase off Uber lor..............becoz they invested in Grab mah...............

trust SBF..............becoz he's a Jew..............

issue is not Temasek losing money......................issue is Sinkies keep giving PAP blank cheques...........

When we have a monopolistic govt. we are force to give blank cheques to the present govt...........

[Blasterlord2]

Years ago parliament has passed the bill to allow Temasek to dip into our CPF cookie jar and no debate at all, it was wuietly tabled and passed. Discuss..

Got such bill meh, dun anyhow say. Later kena pofma.

[RiseofAsia]

[debono]

Yes, they will claim that it is a honest mistake and let's move on............

[Sentinel]

Got such bill meh, dun anyhow say. Later kena pofma.

Got lah, years ago, I read it from the press

[Sentinel]

Got such bill meh, dun anyhow say. Later kena pofma.

This aisaone article say Temasek has never touch CPF money in its investment leh, so I dun know where I read about a bill being passed, but my memory tells me got such a thing mentioned in parliament years ago and bill passed, if you not sure, can write in to parliament and get a confirmation, or maybe write in to CPF to ask them

https://www.asiaone.com/singapore/cpf-sa...ial-assets
SINGAPOREANS who wonder if their Central Provident Fund (CPF) monies are safe can rest assured, because their CPF savings are backed by a government that has substantial assets in excess of its liabilities, Deputy Prime Minister Tharman Shanmugaratnam said yesterday.
The evidence of these net assets is in the Net Investment Returns Contribution (NIRC) to the Budget each year, which amounts to some $8 billion.
The NIRC comprises up to 50 per cent of net investment returns on the net assets managed by the GIC and the Monetary Authority of Singapore (MAS), and also up to 50 per cent of the investment income of Temasek Holdings.
Mr Tharman, who is also Finance Minister, was responding to a question from Mr Alan Ng.
The NTUC Income executive asked if CPF monies are safe, and said that if the safety of CPF savings was premised on the Government's triple-A rating and its funds being properly managed, "one wrong move" from fund manager GIC could "bring the downfall of the country".
To this, Mr Tharman said the Government's triple-A rating "doesn't come out of the blue", and had been given as a result of credit agencies evaluating that it has substantial net assets, among other things.
These assets, which had come about as a result of prudent fiscal planning since the 1960s, also explain the Government's ability to meet CPF commitments with "absolute confidence", he added.
Blogger Roy Ngerng, who is facing a defamation suit for alleging that Prime Minister Lee Hsien Loong had misappropriated CPF funds, also asked about the GIC's role in managing CPF funds at yesterday's forum.
He said that last month, the GIC had said on its website that it did not know if it was managing CPF monies. But earlier this month, he noted, Mr Tharman had said in Parliament that the GIC does manage CPF monies as part of a pool of the Government's assets.
In response, Mr Tharman said: "GIC knows it is managing government assets, that is the Government's mandate for the GIC. The mandate is irrespective of the sources of funds it manages... and the GIC (hence) pays no regard to what the source of funds is."
That the GIC is able to manage the Government's assets as a pool - including the proceeds from the Special Singapore Government Securities issued to the CPF Board - has allowed it to invest in the long term and take bigger risks in the hope of better returns that are significantly higher than global inflation, he added.
Mr Ngerng also asked how CPF monies were invested before the GIC was set up in 1981.
Mr Tharman explained that CPF funds were invested by the MAS. Then the late deputy prime minister Goh Keng Swee had changed the system as the Government's longer-term assets should be invested for the longer term. After that, a "significant chunk" of the reserves managed by the MAS was passed back to the Government which then passed it to its fund manager GIC to manage, said Mr Tharman. He said government investment firm Temasek has never invested CPF funds.
In the past, CPF monies invested in government securities could be used by the Government to finance infrastructure.
That changed in 1992 when the Constitution was amended and the new Government Securities Act, which disallowed the Government from using borrowings for spending, was introduced, he added.
THAM YUEN-C

[Scythian]

..

How Temasek decided to participate in FTX first funds raising?

Did Temasek credit analyst done a proper research?

Who approved the purchase of numbers of FTX shares?

[Scythian]

.Serious violation of Singapore Govt's policy.

For an advanced country SWF to participate in FTX crytocurrency platform is unprecedented..

Commission of Inquries should be called.

[puntfast2]

Plse don't get the points wrong because it will allow them to slip through. $300M is pocket change for Temasek. It represents 0.1% of the total assets and they can always hide and say losing money is part of investing ....case closed.

The  real issue is :
1. Why are they investing in an unregulated company?
2. What's due diligence done to check the audit on the company?
3. What is risk management process involved in the process?

I am surprised when asked abt the losses Temasek said they trusted SBF  ....on what basis when the 28yr old has no track record. Saying you trust someone is no excuse to skip a proper assessment process.

The other issue that cause big losses to Singaporeans is MAS banning Binance and causing Singaporeans to switch accounts to FTX. On what basis was that decision made?

To answer your questions,
It is not meaningful to reveal the reasons to all these queries as overall profitability & long term sustainable growth are what matter for Singapore & stackholders. And Temasek Net Portfolio Value since Inception have grow from few millions to 403 Billions. Thus, what is the point behind the question? First, have Temasek incurred net loss in overall or seeing declining growth? the answer is a resounding no. These are proofs that we are doing right for Singapore.

[Blasterlord2]

To answer your questions,
It is not meaningful to reveal the reasons to all these queries as overall profitability & long term sustainable growth are what matter for Singapore & stackholders. And Temasek Net Portfolio Value since Inception have grow from few millions to 403 Billions. Thus, what is the point behind the question? First, have Temasek incurred net loss in overall or seeing declining growth? the answer is a resounding no. These are proofs that we are doing right for Singapore.

If TH is earning so much money then why couldn't it use some of that money to offset "financial gaps" and so the govt does not have to resort to GST increase. What's the use of the profits if they couldn't help Singaporeans? It doesn't make sense.

[ROFLMAO]

Temasek has too many untrained analyst and inexperienced fund managers

The reason is because the person in charge,  Ho Ching has no financial experience even after 30 years at the helm of a govt investment agency.

[puntfast2]

If TH is earning so much money then why couldn't it use some of that money to offset "financial gaps" and so the govt does not have to resort to GST increase. What's the use of the profits if they couldn't help Singaporeans? It doesn't make sense.

Increasing GST is taxes that allow government to re-distribute the revenue more equally to Singapore, the wealthy will get less, the lower income will continue to get the most.
Sametime, it will [i][b]supports public spending that benefits Singaporeans, including better healthcare, education, and security.[/i][/b]
This makes more sense

[Scythian]

.

Temasek is unreliable and cannot be trusted..

Imposed restriction : Temasek shouldn't be allowed to have access to CPF members OA savings.

[Scythian]

The reason is because the person in charge,  Ho Ching has no financial experience even after 30 years at the helm of a govt investment agency.

Ho Ching should be assigned to do underground construction and tunneling MRT

[Gemstar]

Why is that so, they should respect MAS....

It wil be their usual statement that tamasick is a separate entity of MAS.

[Scythian]

It wil be their usual statement that tamasick is a separate entity of MAS.

All participants of musical chairs game

[Scythian]

.
Was Temasek given mandates to launch one of 3 FTX fund raising?

If so, Temasek must have been paid 0.25% commission and participation fee..

[Symmetry]

This is part of 'cheating' using tax payers money to donate to charities..........

Yes. In fact with their annual profits made, why still need to raise GST?

[Blasterlord2]

Increasing GST is taxes that allow government to re-distribute the revenue more equally to Singapore, the wealthy will get less, the lower income will continue to get the most.
Sametime, it will [i][b]supports public spending that benefits Singaporeans, including better healthcare, education, and security.[/i][/b]
This makes more sense

Increasing GST will only increase the cost of doing business and keep foreign companies away from Singapore. Got sense or not?

[Scythian]

..

So many crap beyond Temaseks control

[Manthink]

So many crap beyond Temaseks control

TH is in the top 10 largest SWF globally...when you have that much $ and spread around the world, you gonna run into some crap along the way.  No ?

[Scythian]

.

How many PAP ministers spoken about Temaseks investment failure in FTX?

[singlon]

The 3 sisters are all on fire
City of London Vatican city and Washington DC

[singlon]

[singlon]

[singlon]

https://t.me/intelslava/41353

click on pic and cancel wat pop up

[Scythian]

.No brainer

Temasek's FTX losses reflected the poor quality and limited knowledge of SWF investment managers

[Scythian]

(Bloomberg) -- FTX Trading Ltd. and about 100 affiliated companies are starting a strategic review of global assets as a part of the Chapter 11 bankruptcy process.

[Scythian]

Plse don't get the points wrong because it will allow them to slip through. $300M is pocket change for Temasek. It represents 0.1% of the total assets and they can always hide and say losing money is part of investing ....case closed.

The  real issue is :
1. Why are they investing in an unregulated company?
2. What's due diligence done to check the audit on the company?
3. What is risk management process involved in the process?

I am surprised when asked abt the losses Temasek said they trusted SBF  ....on what basis when the 28yr old has no track record. Saying you trust someone is no excuse to skip a proper assessment process.

The other issue that cause big losses to Singaporeans is MAS banning Binance and causing Singaporeans to switch accounts to FTX. On what basis was that decision made?

Exposing the whole Singapore Govt