SINGAPORE has revealed for the first time how the investments of its financial reserves have performed.On average, a return of 9.5% in US dollars was made each year for the past 25 years. In Singapore dollars, the yearly return was 8.2%.
These figures on the performance of the Government of Singapore Investment Corporation (GIC) up to March 2006 were made public yesterday by Minister Mentor Lee Kuan Yew.
Lee Kuan Yew said the GIC had fulfilled its mandate of preserving the international purchasing power of Singapore’s reserves.
“The GIC has significantly enhanced the value of our savings,” he added.
Set up to manage Singapore’s reserves, its aim was not to maximise returns, but to “protect the value of our savings and earn a fair return on capital,” he said.
It started with less than S$10bil (RM23.12bil). Since then, it has become one of the world’s biggest fund management firms, investing in nine classes of assets – from stocks to bonds to property, worth “well over” US$100bil (RM365.5bil).
Singapore’s foreign reserves stood at US$128.9bil (RM471bil) in May 2006
Can Malaysian GLC and EPF emulate this feet?
Can EPF enhance the value of our savings and protect the value of our savings and at the same time earn a fair return on capital?
Would EPF proudly say that they had done better?
Or, they are still groping blindly with uncertainly in search of 5% meager dividend?
1 comment:
EPF money is sexy, hence they're 'groping blindly', to satisfy their insatiable itch to waste our money on 'boleh!' projects and pay us meagrely on returns. They're not 'blind', they knew perfectly we can't object or have any say.
Don't we all feel like cheap whores now? *cleaning up his privates for the next customer...
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