The Abysmal Singapore, Temasek, and GIC Balance Sheet
Last Thursday, we analyzed the Singapore balance sheets for 2009 and 2011 arriving at an implied valuation for GIC. What really causes concern is that despite claims Temasek grew at 22% annually, Singapore Inc. managed only $30 billion SGD of net asset growth. The growth in assets on the Singapore, Inc. balance sheet...
The S’pore takeaway for Uncle Sam
Dear Mr Matt Miller, I refer to your Washington Post article that was published by Straits Times on 5 May 2012. The table below shows that it is not just Singapore that offers a hassle free, clean airport experience; a number of East Asian airports offer the same excellent experience. Airports Council International Airport...
The GIC and Temasek Endgame
The question I have gotten most often throughout my series on Singaporean public finances is: what does this mean for Singaporeans? It certainly isn’t good but I doubt it is as bad as it could be. Let’s start with the bad news first. Singaporean public finances display very worrying characteristics throughout their...
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