[winbig]

https://news.google.com/articles/CAIiEKw...M?hl=en-SG&gl=SG&ceid=SG%3Aen

[Levin]

For those who have not subscribed to Bloomberg, here's another link:

https://www.theedgemarkets.com/article/s...b-reserves


......

to bring down the level of foreign reserves held by the central bank — currently about S$566 billion (US$419 billion) — to a rate equal to 65% to 75% of gross domestic product. The rest would be run by GIC.

The result could be a huge injection of funds for GIC, already one of the world’s biggest asset managers. Finance Minister Lawrence Wong said about S$185 billion would need to be transferred in phases to reach the optimal reserves amount, without specifying how long that would take.

Wong added it would be “inefficient” for the Monetary Authority of Singapore to hold on to official foreign reserves beyond its needs, “because returns on the OFR will be limited by MAS’s relatively safer and more liquid investment posture”.

[Scythian]

CPF savings  = >  MAS. = >  GIC

[RichDad]

Good move

[Talent]

should ask me to manage

[Rainforest]

'manage'.........

[Niubee]

Ah Gong wului ah

[Goldmine]

Wow! so much reserves. Can manage not? I thought  a no. of investment gone awry.

[Harry Lee]

Why still need to up GST 9% and brought forward?

[[[ForeverAlone]]]

Some claim GIC , TS Holdings " never touch our CPF " even so call on their website " stated "
How true is it?

[sgbuffett]

Wong added it would be “inefficient” for the Monetary Authority of Singapore to hold on to official foreign reserves beyond its needs

If they are having so much money it is inefficient to hold why isn't it given out to poor Singaporeans and those who lost their jobs?

[[[ForeverAlone]]]

FYI , property tax increased ! even you stay in private.
I wonder you all got see check the property tax of your HDB recently as they recently as usual send to you how much they charge.

[Scythian]

https://news.google.com/articles/CAIiEKw...M?hl=en-SG&gl=SG&ceid=SG%3Aen

While GIC taking $$$ out of reserves

A desperate SIA is begging on the streets

[RichDad]

Some claim GIC , TS Holdings " never touch our CPF " even so call on their website " stated "
How true is it?

Not never touched. They say they don't manage cpf which is technically correct.

[Scythian]

Is GIC buying SiA 7 years bonds?

If not, why not,?

[debono]

Some claim GIC , TS Holdings " never touch our CPF " even so call on their website " stated "
How true is it?

If GIC and TH don't touch our cpf, then how can cpf give an interest at 4 %....what will the money in cpf use for.....?

[RichDad]

If GIC and TH don't touch our cpf, then how can cpf give an interest at 4 %....what will the money in cpf use for.....?

His statement is false.

[RichDad]

FYI , property tax increased ! even you stay in private.
I wonder you all got see check the property tax of your HDB recently as they recently as usual send to you how much they charge.

AV increase. It is in the news.

[Tangsen]

Maybe later they go buy an EPL team   

[Teeth53]

Why still need to up GST 9% and brought forward?

No $. No taik

[Teeth53]

No $. No taik

GIC’s already wide reach and investing power because unlike most peers, its mandate is to invest almost entirely overseas. 

In 2021, the firm struck more deals than ever, in its 40th year of operations. GIC doesn’t disclose how much it manages, though research firm Global SWF estimates it ran about $744 billion as of March.

[RichDad]

If they are having so much money it is inefficient to hold why isn't it given out to poor Singaporeans and those who lost their jobs?

That's raiding the reserves .

[starbugs]

Imagine that this amount can create 137 billionaires if distributed. There are only about 30 billionaires in Singapore. There are no crazy rich Asians in Singapore, but there is one crazy rich government.

[Teeth53]

GIC’s already wide reach and investing power because unlike most peers, its mandate is to invest almost entirely overseas. 

In 2021, the firm struck more deals than ever, in its 40th year of operations. GIC doesn’t disclose how much it manages, though research firm Global SWF estimates it ran about $744 billion as of March.

https://youtu.be/0PeXlDysmTM

While the MAS was able to transfer funds before the amendment -- S$45 billion was given to GIC in 2019.......7% goods and services tax could be raised as early as this year, and regulators are studying ways to implement a wealth tax.

[Talent]

then gov should give those silver handout
increase to 500 a month instead 240

[Scythian]

GIC should support SiA

[debono]

GIC should support SiA

I agree as SIA is our homegrown company......

[Klesk]

If GIC and TH don't touch our cpf, then how can cpf give an interest at 4 %....what will the money in cpf use for.....?

this one must ask Bernard Madoff. although died already, still can ask.

[Galilo_l]

Hope d monies b prudently manage 

[watchfirst9]

For those who have not subscribed to Bloomberg, here's another link:

https://www.theedgemarkets.com/article/s...b-reserves


......

to bring down the level of foreign reserves held by the central bank — currently about S$566 billion (US$419 billion) — to a rate equal to 65% to 75% of gross domestic product. The rest would be run by GIC.

The result could be a huge injection of funds for GIC, already one of the world’s biggest asset managers. Finance Minister Lawrence Wong said about S$185 billion would need to be transferred in phases to reach the optimal reserves amount, without specifying how long that would take.

Wong added it would be “inefficient” for the Monetary Authority of Singapore to hold on to official foreign reserves beyond its needs, “because returns on the OFR will be limited by MAS’s relatively safer and more liquid investment posture”.

How Bloomberg knows these when our president unable to know it