[Scythian]

"MAS Transfers S$75 Billion Excess Official Foreign Reserves to the Government GIC"

Whats the reason CPF Board cannot transfer our CPF Savings directly to GIC like MAS?

[IndianChief]

CPF monies are to be used to buy safe products like bonds. Not to used for degenerate fund managers like GIc to speculate on Indian companies,

[Scythian]

CPF monies are to be used to buy safe products like bonds. Not to used for degenerate fund managers like GIc to speculate on Indian companies,

Are you saying GIC employed gamblers taking hi risk to bet on Indian companies?

[revealer]

GIC and Temasek are Fund Managers of the Singapore Government whereas CPF is a Statutory Board whose workings are governed by CPF ACT.  This ACT was approved by Parliament with the recommendation of  the Government.  The way how CPF invests its money must have been stipulated in the CPF ACT to be transparent to the public.

[Scythian]

GIC and Temasek are Fund Managers of the Singapore Government whereas CPF is a Statutory Board whose workings are governed by CPF ACT.  This ACT was approved by Parliament with the recommendation of  the Government.  The way how CPF invests its money must have been stipulated in the CPF ACT to be transparent to the public.

Cavemen also proposed and passed ACT inside dark tunnels.

They changed ACT daily as and whenever

[Scythian]

CPF monies are to be used to buy safe products like bonds. Not to used for degenerate fund managers like GIc to speculate on Indian companies,

CPF issue: GIC manages CPF monies along with other govt funds: DPM Tharman

Central Provident Fund (CPF) monies are not managed as a separate entity by the Government of Singapore Investment Corporation (GIC), they are pooled and invested with the rest of the Government's funds, said Deputy Prime Minister Tharman Shanmugaratnam on Tuesday, July 8, 2014. -- PHOTO: ST FILE
Tham Yuen-C
Senior Political Correspondent
PUBLISHED 8 JUL 2014, 4:40 PM SGT
FacebookWhatsApp

[Scythian]

CPF monies are to be used to buy safe products like bonds. Not to used for degenerate fund managers like GIc to speculate on Indian companies,

You are 100% correct being caught red handed.
Sorry mate..

"Top-Performing Singapore Firm Accused of Greenwashing in India Coal Sale
If Sembcorp financed the deal, can it really claim a smaller carbon footprint? 

BySheryl Tian Tong Lee and Stephen Stapczynski+Follow
9 November 2022 at 11:56 GMT+11
One of Singapore’s best-performing stocks this year — an energy company backed by state investor Temasek Holdings Pte — is under fire for trying to avoid higher interest payments to bondholders that kick in if the company fails to meet emissions targets.

In order to reduce its official carbon footprint, Sembcorp Industries Ltd. sold two coal-fired power plants to an Omani group for $1.5 billion. The company told shareholders that the sale would lower its greenhouse gas emissions intensity by 38%, more than enough to dodge the penalties attached to the company’s sustainability-linked bonds."

[IndianChief]

CPF issue: GIC manages CPF monies along with other govt funds: DPM Tharman

Central Provident Fund (CPF) monies are not managed as a separate entity by the Government of Singapore Investment Corporation (GIC), they are pooled and invested with the rest of the Government's funds, said Deputy Prime Minister Tharman Shanmugaratnam on Tuesday, July 8, 2014. -- PHOTO: ST FILE
Tham Yuen-C
Senior Political Correspondent
PUBLISHED 8 JUL 2014, 4:40 PM SGT
FacebookWhatsApp

CPF monies are used to buy SG bonds, although the Govt transfers the proceeds from the bond sales to GiC, technically it’s no longer CPF monies. It’s like you place a fixed deposit with a Bank, the bank uses those money to loan to another company. You can’t say the bank is loaning your money to the company. From your perspective is you place Fd with Bank and Bank give you interest based on the FD.

Because of this, your monies are guaranteed cause from CPF perspective, all they are doing is buy bonds. If GiC loses money, then it’s Govt problem and not CPF problem, similar to how is a bank lends money to someone and the borrower defaults, it’s not your problem. The bank still have to give you back the Fd with interest.


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CPF monies are invested by the CPF Board (CPFB) in Special Singapore Government Securities (SSGS) that are issued and guaranteed by the Singapore Government.

[Scythian]

CPF monies are used to buy SG bonds, although the Govt transfers the proceeds from the bond sales to GiC, technically it’s no longer CPF monies. It’s like you place a fixed deposit with a Bank, the bank uses those money to loan to another company. You can’t say the bank is loaning your money to the company. From your perspective is you place Fd with Bank and Bank give you interest based on the FD.

Because of this, your monies are guaranteed cause from CPF perspective, all they are doing is buy bonds. If GiC loses money, then it’s Govt problem and not CPF problem, similar to how is a bank lends money to someone and the borrower defaults, it’s not your problem. The bank still have to give you back the Fd with interest.


—————


CPF monies are invested by the CPF Board (CPFB) in Special Singapore Government Securities (SSGS) that are issued and guaranteed by the Singapore Government.

All CPF cheap $$$ ended into GIC portfolio

[Scythian]

All CPF cheap $$$ ended into GIC portfolio

The ACT discriminates and restricting CPF members freedom of choice.

[Scythian]

.
If MAS can transfer $$$ to GIC to achieve higher ROI

There's no good reason restricting CPF Board and deprived 4.1 mio members from doing it.

Afterall, they are owned by SG Govt with same objective.

[grotesqueness]

the reasons is outright simple

Dont let ah long control you
but
let Ah loong control you

[Scythian]

.
Stop being sneaky and be opened that our CPF savings ended up in GIC..

Instead of beating round the bush buying SGS Bonds thru MAS, the middle man, just transfer directly to GIC,