Investments can pock kai no issue to GIC, $15 billion guaranteed CPF inflow for GIC annually

GIC manages more than S$400 billion in CPF monies.

Thanks to PAP’s constant tweaking of CPF rules, GIC receives about $15 billion in net contributions annually.

Besides increase in CPF, GIC also manages additional billions in tax dollars set aside for Merdeka Generation and Pioneer Generation packages, etc.

With additional tens of billions in ‘free money’ to invest annually – no need to raise capital like real fund managers, understandably, GIC has continued to mismanage state reserves and CPF monies.

For eg, GIC has a number of investments, such as Paladin Energy, which are almost … worthless.  GIC, of course, has no exit plan.

While GIC has doubled its stake in Paladin since 2013, prices have collapsed.

Likely, GIC has lost more than 95% of the investment.

Has a single investment Paladin Energy incurred hundreds of million$ in unrealised losses?

How many Paladins are there?  Is this why CPF cannot be returned to members at 55?  Or even 65?

 

Phillip Ang

* The author blogs at LikeDatOsoCanMeh.

 

 

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10 Responses to “Investments can pock kai no issue to GIC, $15 billion guaranteed CPF inflow for GIC annually”

  • Harder Truths:

    Ir looks to me like every time a US company needs money to stay afloat $G will invest in it.

    Buying F-35 fighter planes (designated Turkey) since other countries bowed out because too expensive and useless? Lifecost of one plane is US $1 Trillion.

    Lending money to the IMF and World Bank – will this ever be repaid?

    Is this because of the ‘special relationship’ that $G has with the USA?
    Is this why $G is now a ignored and pariah nation in Asean and China?

    All the big money going everywhere else. But never for $G citizens.

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  • oxygen:

    PALADIN ENERGY WENT INTO ADMINISTRATION in 2017. The result of that is that 98% of shareholding were transferred to bond holders for no consideration.

    In other words, your 100,000 shares in PDN bought at whatever elevated price is reduced to 2,000 PDN now value around 15c each.

    https://www.asx.com.au/asxpdf/20171205/pdf/43pxd2z6mbysgk.pdf

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  • patriot of TUMASIK:

    The VAULT is Empty!!! the Assets are HDB flats and Jewel with the Garden by the Bay to BULL & SHIT the People & Tourists…

    Who Pay and Whose money??? the silly Sheeple still Bleating around in Fairyland “YesSirYesSir we are FOOLs”

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  • I ask sg education system:

    Why do the supermajority Singaporeans INSIST to ensure Lack of Transparency?

    So I question what kind of Accounting grads has sg produced? Base on Audit or Base or Believing?

    SG education system produced grads top in scoring in exams.
    How is good grades translated into real world performance?

    Why are they insisting to allow the current system Lacking Transparency? What is wrong with their thinking? MISGUIDED souls?

    Education is providing Knowledge. Why do our accounting grads not question and demand for transparency?

    Have they adhere their professional ethics? Or should they be disqualified as accountants?

    Would you hire a SG accountant?

    Where is the professional integrity?

    Why do they not practise the knowledge they gained from education?

    Education is clearly not wisdom but merely some knowledge.
    Wisdom is from the Author of Accounting.

    Having regurgitated perfectly does not show the student has Wisdom of accounting because he Never created New knowedge Better than the text book.

    This applies to every subject and helps to explain why Singaporean need to use China 5G and not able to invent something superior because wisdom is lacking DESPITE MASTERY IN REGURGITATION.

    I hope I have educated you all why Knowledge is Not Wisdom.

    China students do not ace exams as well as Singaporeans. But what is their Real World Performance?

    I stand here undebunkable.
    I hope to end your Ignorance.

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  • AladdinPaladin nomoney notalk:

    Q: Do you know what’s inside Aladdin’s lamp?
    A: It would take a genie-us to find out.

    Q: Do you know what’s inside the CPF accounts?
    A: It would take accountability to find out.

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  • Ka-Ching ka-ching:

    Altogether now–what is Ka-ching’s pay?
    What is Ka-ching’s pay?
    Let us email all the 87 MPs for this question to be asked in Parly.
    TH monies belongs to tax-payers; it is our right to know.
    All citizens including the daft 70% want to know.

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  • Eric:

    Only Sporeans are so blind to the fact why CPF rules have been changed many times to cover up lossess.

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  • What's The Problem?:

    Stupid Sinkies voted themselves to be free ATMs for the greedy Pigs.

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  • True facts:

    That’s why goalpost keep shifting to 300 yrs old than can draw down cpf.

    At 70 yrs they said u can still work till drop dead.

    Stupid sinkis.

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  • one promotion a year to BG:

    which other country other than lky Singapore is lky son able to get one promotion a year to BG?

    none. only in pap Singapore. that is why Singapore is on the down since 2004. but this is not the worse. it is the hypocrisy, putting wife and clan members in lucrative positions in gic temasick.

    if gic temasick are lee assets, nothing further to say. but gic temasick are 70% sheep assets. they exist to alleviate hardship of 70% sheep.

    yet due to sowing dollars reaping cents in gic temasick, 70% sheep CPF not only held longer and longer, 70% sheep need to pay more and more GST instead of less GST or no GST. 70% sheep truly stupid.

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