GIC to manage extra 137bil in reserve
13-01-2022, 08:09 AM
https://news.google.com/articles/CAIiEKw...M?hl=en-SG&gl=SG&ceid=SG%3Aen
13-01-2022, 09:26 AM
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”.
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”.
13-01-2022, 12:08 PM
Good move
13-01-2022, 12:12 PM
should ask me to manage
13-01-2022, 12:29 PM
Wow! so much reserves. Can manage not? I thought a no. of investment gone awry.
13-01-2022, 12:39 PM
Why still need to up GST 9% and brought forward?
13-01-2022, 12:42 PM
Some claim GIC , TS Holdings " never touch our CPF " even so call on their website " stated "
How true is it?
How true is it?
13-01-2022, 12:44 PM
Quote: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?
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
13-01-2022, 12:51 PM
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.
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.
13-01-2022, 01:32 PM
(13-01-2022, 08:09 AM)winbig Wrote: 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
13-01-2022, 01:53 PM
13-01-2022, 04:23 PM
Is GIC buying SiA 7 years bonds?
If not, why not,?
If not, why not,?
13-01-2022, 04:34 PM
13-01-2022, 04:44 PM
13-01-2022, 04:45 PM
13-01-2022, 07:12 PM
13-01-2022, 07:16 PM
(13-01-2022, 07:12 PM)Teeth53 Wrote: No $. No taikGIC’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.
13-01-2022, 07:34 PM
13-01-2022, 07:51 PM
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.
13-01-2022, 08:27 PM
(13-01-2022, 07:16 PM)Teeth53 Wrote: GIC’s already wide reach and investing power because unlike most peers, its mandate is to invest almost entirely overseas.https://youtu.be/0PeXlDysmTM
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.
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.
13-01-2022, 08:54 PM
then gov should give those silver handout
increase to 500 a month instead 240
increase to 500 a month instead 240
13-01-2022, 09:09 PM
GIC should support SiA
13-01-2022, 09:21 PM
13-01-2022, 10:32 PM
13-01-2022, 11:14 PM
Hope d monies b prudently manage
There is no right or wrong decisions.
One only has to bear the consequences that one makes
14-01-2022, 12:31 AM
(13-01-2022, 09:26 AM)Levin Wrote: 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
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