The mortal danger of “self spinning” ourselves in delusion
By Fang Zhi Yuan At the Singapore Tripartism Forum last Sunday, Prime Minister Lee was asked by a business leader to comment on the performance of Temasek and GIC in the wake of the stunning revelation of its recent losses. He replied straight in the face that "these are very respectable figures" based on the annual returns...
Singapore Economy Shrinks Most in at Least 33 Years
Singapore’s economy shrank the most in at least 33 years last quarter as plunging exports push Asian nations deeper into an economic slump and add pressure for the nation to weaken its currency. Gross domestic product declined an annualized 16.4 percent last quarter from the previous three months, after shrinking a revised...
State media’s continued silence on sensitive issues will erode its credibility further
By Fang Zhi Yuan When news broke out that Singapore's Sovereign Wealth Fund, Temasek Holdings have lost S$58 billion dollars of its investment portfolio last year, one would expect many serious questions to be asked in the press. There were none. More disappointingly, the extent of GIC's loss was not published in the English...
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