[CNA Exclusive] PM Lee reveals inner workings of Temasek, GIC - Pt 3/3 | Singapore Reserves Revealed
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- Опубликовано: 14 авг 2023
- The net investment return contribution or NIRC makes up close to 20% of Singapore's budget. Who are the people behind making sure our reserves grow? The Prime Minister explains the working relationship between the Singapore government, Temasek and GIC. READ: cna.asia/3qwJ62q
00:26 How did Temasek and GIC come to be?
04:35 Is this structure relevant today?
05:09 Does the government get involved in GIC investment decisions?
08:11 Why must GIC’s chairman be the Prime Minister?
10:50 What do world leaders say about Singapore's reserves?
#SingaporeReservesRevealed
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after the series I realize how much influence the first elected president had... that's why elected president is very important in Singapore, you get the right person they ask the right questions. Not just there to safe guard the reserves, our president have to question how it is being used. Mr Ong did a very good job asking that question and PM Lee was nice to give credit and mention how all this came along.
Singapore is now a world class and first world country due to great financial and economic management. Really informative series.
Great? maybe, but as a local i’d like to think of it as complaining dont get us anywhere. It’s just well diversified fiscal responsibility coupled with a nation that’s majorily kept sated with strategic economic policies.
I'm not Singaporean, but I have a tremendous amount of respect for PM Lee. Its great to listen to all his talks and debates, What an amazing leader.
This whole series is very well done! Great job
So Says 1 Hour Old EMPTY FAKE ACCOUNT
A lot of "word salad" but we still do not know the size of the reserves.
indeed, good job.
Agree. Genuine in teaching us...
@@franciscody9622
Klaus Schwab " You Will Own Nothing & Be Happy "
HDB 99 yr LEASE
Cars 10 yr COE LEASE
SG is the PERFECT EPITOME of WEF
There is this guy franciscody9622 who comments on everybody's comments trying to talk bad about Singapore but it seems like he barely even thinks for 5 seconds before blurting out useless words. Truly an interesting specimen.
You Singaporeans are fortunate to have Prime Minister who are thoughtful leaders who are deeply passionate about their nation and future, never seen a country who govern their country with as much depth and passion as your leaders do, be blessed always 🙏
He is a brilliant economist like his late father, LKY. We are very lucky to have had leaders who manage our finances well. Singapore could have sunk during the pandemic if not for all the reserves we could tap into without fear of going bankrupt as a nation.
LKY used the wrong economic KPI - GDP. That is why after 6 decades Singapore does not have a First World Standard of Living. Let that sink in.
Agree. We are blessed with smart and committed few who sacrifice opportunity costs and stepped fwd to lead the country diligently and properly.
@@franciscody9622 Tell us what exactly is your understanding of first-world living standard? If you wish to talk about freebies, please include taxes as well.
@@franciscody9622 Singapore is much better than many European countries, what are you on about
@@franciscody9622aiya we may complain alot but please go look at other countries, isit really better than what we have here? what we have may not be perfect but i cock sure its better than other countries
Thank you PM & SG for all these efforts. As a foreigner I have been getting two major benefits 1) less tax by getting support from NIRC, 2) strong returns from US equity by simply replicating GIC major portfolio. recent ex: in last 6 month i have doubled my returned from $PGY
G3
Proud Of Majulah Singapura PM Lee and Well Done For Little Red Dot.👍👍
Well done or done for? Where is the Swiss Standard of Living?
It’s a strange situation to see a former territory of an empire do well. As a British citizen I am jealous and admire Singapore. They have a great government
The current Singapore cabinet has graduates from UK: University of Cambridge (4x), University of Manchester, London School of Economics and Political Science. So 6 out of 19 ministers including the Prime Minister. Singapore has benefited greatly from UK education with GCE 'O' and 'A' level papers marked by British appointed teachers.
Singapore Reserve is what gives MAS and Singapore the ability to adapt and change course to help Singaporeans without having to beg for help from neighboring countries, world bank or IMF. Many Singaporeans are still clueless about how small Singapore is in size and influence. Without solid reserves, Singapore's currency and assets will be vulnerable to attacks by foreign countries. Singaporeans should be smart not to indulge in fakeness and myths created by those fly-by-night political activists hoping to divide and conquer Singapore. e.g. Jamus Lim ask for a 3rd key to access to reserves. My question to him is, how long have you been in public service and why should any Singaporeans trust what WP said when 3 prominent members from WP were caught lying to their own leader? Wake up Singapore and learn to be thankful for what we already have
Thanks PM and channel news asia for the insight.
Timeline of recent events:
16 Aug PM video release on Singapore Reserves
20 Aug National Day Rally
22 Aug Presidential Nomination
1 Sep Presidential Election
On a sidenote, thank you PM Lee for your astute leadership, sacrifice and hard work!
Singaporeans are fortunate to have leaders of such caliber to look after the country. They are hard to come by.
Where is the SwIss Standard of Living?
@@westwoodly Are you Singaporean? Do you have a Swiss Standard of Living?
@@franciscody9622
GCT of PAP LIED
JUST like Vivian BLATANTLY LIED about TRACE TOGETHER
@@franciscody9622 Swiss Standard of living is like the Credit Suisse bank collapse.
super good series for Singaporean to watch and understand
What's good? Did it tell you the size of the reserve?
@@franciscody9622whats the point of knowing? So u can beg ah gong to give you money/lower gst since ah gong got so much money?
Exactly bro... It's just like the documentary "Men who built America"... It's in the same quality and it's our own story🤗
@@murallivengadasalam1300 And after almost 60 years under PAP and paying politicians millions annually Singaporeans still do not have a First World standard of living.
Very well explained, clear and uncomplicated with few technicalities or jargons that ordinary people can understand. Format of the interview is excellent - like an FAQ where question and areas of relevance and interest are clarified. The graphics and illustrations makes it easier to understand.
Thank you PM Lee for being the best ❤ super appreciate all that you’ve done for us
G 2
Dear PM Lee,
So very grateful to you & your PAP GOVERNMENT for Singapore's magnificent infrastructure & governance.
God Bless Singapore
Majullah Singapore ❤
This broadcast is good for the young generations....they now know the importance of good governance and a inclusive consultative and informative government
It show the young how flimsy the reserve protection is. Imagine you have a irresponsible government, and a irresponsible president who signs of billions and overreact to a problem, how? Imagine people politiking start getting GIC staff fired. I'm not so sure we have a good enough system that can outlast PAP. The system depends that PAP remains in government.
Are you serious? "Word salad" not explaining the BILLIONS LOST investing in Merrill Lynch, Barclays, UBS and the hundreds of millions more investing in a scam called FTX.
People who keep wanting the country to spend the reserves while they complain about stagnating wages (which have been rising btw), $1 increase in caipng, yet are building their wealth in CPF, owning multiple properties, etc. are in other words just want the government to “distribute” the reserves and make it their own business to save and spend. However what this will lead to is that the government increasingly loses the ability to ensure redistribution principle (across wealth and across generations) in spending, and this will also eventually lead to furthering inequality between the haves and have-nots and the present and future.
This is a great series because it helps us understand, think about and take ownership in a public good that is technically an inheritance from our founding fathers but also our responsibility to leave for future generations.
You are the few who truly understand 👍
One of the best documentary , talk shows ever produced ! Keep going on contents like these !!
love listening to all these inner working of the govt and this PM is pretty smart.
If he is so smart how come Singaporeans still do not have a First World Standard of Living? Why is Singapore one of the most expensive place to live with stagnant wages? Why is support for PAP going down and may even go below 50% at the next GE?
An excellent series CNA. A+. Thanks for your efforts in explaining it in simple terms of the huge and complicated government machinery.
Quality journalism ... and GREAT governance. Grateful to have been precision delivered into this 700 sq m land area.
Well done. You are one in a million. Imagine parachuting from space, not easy to land here.
Quality journalism? Really? Singapore is ranked 150+ (out o f 180) in terms of press freedom. Let that sink in.
Singaporeans really cannot take our financial stability and prosperity for granted. This video reinforces this principle. Once taken away, Singapore is finished.
Who will "take away"? You don't even know what can be "taken away"'. Laughable.
@@franciscody9622 The purpose of our reserves is to defend the value of the Singapore Dollar. Without a strong Singapore dollar, the value of our reserves will collapse. Plenty can be taken away, including your jobs, your freedom, the value of your passport and your borrowing cost.
@@franciscody9622 Become the prime minister lor. want to know so much. 🤡🤡
we should always remember that hindsight is 20/20.
we always like to blast govt when we hear temasek/GIC lose money, but no praises when they earn money!!
our risk free 2.5-4% interest in CPF is always taken for granted!!
Web technologies give us the chance now to be supportive and encourage you, keep up be strong & love Singapore everybody, we need to stay united and fight back global warming, prevent weather gone insane hickups and feel united like siblings, helping each other like true family, only solidarity can help us succeed, l am the biggest supporter of yours guys Ok?
Thank you PM Lee, spend what you can afford and save some for rainny day. ❤
The timing of this yt video is timely in view of the coming presidential election. Reminding the people and the candidates that the government is the one who built up the reserves.
Why can't we have 2 GIC is quite similar to asking why can't we have 2 or 3 PMs.
Thank you PM that Gic and Temasek have done well👏👏👏. Going forward please consider how to make it more transparent when you are no longer in charge. Generations change, people values change. After all the people's money are park inside.
The whole point of obscurity is to prevent foreign speculations on our financial reserves. Our values are not the point here (no generations were okay with the obscurity for its own sake). As for Temasek, and MAS, they are public information. In fact, Temasek scores FIRST in the Global Sovereign Funds 2023 leaderboard which include "very high governance, transparency, and accountability standards: it discloses information it is not required to, such as total assets and financial returns; it pays taxes overseas; and it is held accountablefor its financial performance". As for people's money, as in taxpayers' money, sure it is in GIC (not in Temasek). If you mean people's money as in CPF, it is in a special vehicle called SSGS that is invested through GIC and MAS, sure. SSGS is under guranteed returns, so are backed by our assets and reserves. So, until our NIRC gives no return, it is not something to be troubled with.
The fear of God and keep away from bribe and corrupt people.
Love this series. Educational and informative. Thanks, CNA and PM
Brilliant. Extremely informative. Tells us how Singapore is so successful when other countries, naturally endowed, flounder
He has just proven and gave us a lesson why you should hold & grow your wealth. It's a reflection of one's character & discipline. People respect u for that.
Its actually not exactly a mystery
If one would micro this whole thing down to a personal level..
Savings.. earnings.. diversification of your investments.. investing some more.. looking out for better money making opportunities.. hoard like a squirrel in summer in time for winter..
All on a personal level.. then projwct the same on a National level.. and everything becomes clear and sensible
You are one of the few that truly understands 👍
Great analogy. Squirrels have better sense of finance than some Singaporeans
PM, you know this one of your best lecture. The 40minutes explains how our political financial intertwining. And frankly, I enjoyed every minute understanding our part to play.
What worries me, is that we have no room for reform. I worry if one day should we have political changes, imagine GIC staff persecuted. The President locking the reserves and refusing to budge. Perhaps policy disagreements that our dividend some people want to spend 30% other people want to spend all our dividend/NIRC. I mean your system works, but it is not infallible or do I remotely think it can take small changes. Imagine an incompetent president who signed off billions, or a President who sells off our controlling stake in SIA. How, I mean. It worries me.
G4
There are checks and balances lah! And also important to have "ownselves check ownselves" system in place before others check them.
@@westwoodly you simplistically sweep with that comment. I've replayed his interview twice today, and I reflect and think it is insufficient. I think he need to do more financial education, the public should vote with a better understanding of the reserves, which the 3 part documentary just gave a good simple overview. He need to do a podcast series for people to go listen and understand other facets.
@@MrBoliao98 There is always room for improvement - there must be! Otherwise Singapore is doomed in the face of aggressive competition from abroad. There is a proper place and a proper time to do your thing. Not wise to stuff all the food in one go, to overload. Not prudent to heed every suggestion.
There is no ends to the possibilities on why a system can fail. Which is why it is important to vote for the right people. And if the wrong people get voted in, then at least that is what the people want.
I hope the leaders of all developing countries come to watch this.
Super Video
Thank You PM Lee for giving permission to CNA to do this great lesson on Singapore Reserve!
What lesson? We still do not know the size of the reserves?
Yes,i now,its,some time need rest
Do not forget to include Goh Keng Swee n Woon Wah Siang whocalso contributed to enhance our reserves kchew
PM, u hv made a great presentation to put facts straight
I hope PM will share more his brillance should he choose to retire. Too much to learn and to wise up. Good sessions.
Temasek short clips also had explained well since 2018.
Like father like son!💪🏼🇸🇬, 🫶🏼🇸🇬
Really? Did he tell you the size of the reserves?
@@user-um9re5vj8r That's the problem. Followed the same wrong KPI. That is why Singapore still dies not have a First World Standard of Living.
What facts? What us theorize if the reserves?
Very insightful. Thanks for making these videos
Really? Did you get an "insight" on the size of the reserves?
@@franciscody9622 I never expect him to say the number out. Why would anyone expect that.
@@likenickiori That is why Singapore needs regime change.
@@franciscody9622 will you say out loud to the world how much money you have in your bank account?
@@franciscody9622no country would be dumb enough to reveal the actual number that leaves them vulnerable.
If you do a simple google search, the disclose data about Singapore total reserve is estimated to have 2.2 trillion SGD
Superb..well done!!
Thanks for this informative video.
Thank you PM Lee for the insightful explanation, makes me more determined💪 to never let snakes like Pritam Singh, Lim Tean, Kenneth J, Tan Jee Say, Chee Soon Juan and other sinister politicians near our reserves
They are not snakes they are doing their job
@@PAPnostandards Joke, then Pritam Singh's job is to lie in court and cover up Khan's lie. Kenneth J's job is to get convicted of defamation and spread falsehoods. Chee Soon Juan stole money whilst with NUS, spread falsehoods, and defame people. Lim Tean charged for harassment and stealing money from client. Yes, those are their jobs, well done.
@@Notdoingenoughthats why GIC and Temasek have to get the right people in charge, didnt he mention it in the documentary?
And well so far, 1997, 2008 and 2020 crisis was managed pretty well. Thats why it has be based on trust by the people and government.
At least the PM and CNA made a whole documentary to explain how the reserves and investment in the government framework system works. I think its pretty transparent and accountable than most government around the world
Let's always do alot of good 🙏
Quality series. We need more of such informative and factual content from CNA. Keep it up!
Quality series? Really? CNA is owned by the government through Temasek. Singaporeans ranked 150+ (out of 180) in terms of press freedom. MSM us not credible. That bus why SPH needed to be restructured and SPH Media Trust needs a government subsidy. BTW SPH Media Trust is an oxymoron. MSM is not "trusted". That is why it is not financially viable and needs a subsidy.
@@franciscody9622 ah yes, there’s always this group of ppl out there being unsatisfied with everything to do with the govt. Go now... be on your way... don’t let the door hit you.
Thank you PM Lee! 👍👏🙏
For what? Where is the Swiss Standard of Living?
Great leaders. Actually this is a lesson for every country
Brilliantly done Singapore ❤️
Answering "softball questions" is not brilliant.
We need to be on gùard against sea pirates, cyber thieves, scammers attacking Singapore assets and cash ..
And bad fund managers that invest in scams like FTX.
❤
This is an excellent series of videos! Impactful, informative, and very relevant currently. Thank you!
Gic n Tamasek must be transparent n No conflict of interest and at arms length kc
But having 2 or 3 or more GIC does seem ok
He had fingers like Obama. Swiss heritage. I think lee’s great grandfather was Swiss.
Swiss heritage but no Swiss Standard of Living for Singaporeans
Thank you for your insights, it must have been a big decision to speak about this.
It's a private business model, however as it is government money it gets scrutinised on its down investments. It doesn't take much ability to pick on any business, especially easy to target it after the fact of any event.
Fact is that it's stable, and year on year, it's successful. The saying goes if you haven't failed, you haven't tried.
Transparency is key. This should have been discussed long ago.
Just dont understand these peoples wanting to know how much is our country reserves. What can they do better with it? They complained so much of GIC investment. Are these peoples really guru of investment?
Frankly it was not nice to show the gold bars. It will put our neighbours in difficult situation to face their own peoples
the ruling class need to see we know what they do with oil money!
What I would like to know is whether there are some bad actors behind all this.. trying to sow seeds of discords and mistrust with the ultimate aim of undermining our government.
nah, all those that complain never have enough money for investment. Also, it is easy for them to be transparent with their finance because they are broke.
GIC and Temasek are world-class institutions which has offices and operations throughout the world. Any company that has support from Temasek or GIC will see their company valuation grow exponentially. Though not all investments will turn out well they are certainly hitting the target more than misses and that is why no hedge fund or forex traders dare to mess around with the Singapore dollar and GLCs for they will get burned badly when their bets is due to settlement.
During COVID19 crisis, people are selling airline shares and SIA included and if not for Temasek and government support from SIA, our national airline, and Changi Airport would have already missed the opportunity during the upturn. Its easy for flight by night political activist to talk about FTX losses, but difficult to swallow their pride with GLCs like DBS and SIA start making big.
I remembered in 2000, Dallas fortWorth aviation was bought over by Singapore govt investment at next to nothing. The facility and hub is phenomenal, I was impressed at the foresight then as I was living there.
Not as good as the Norwegian Sovereign Wealth Fund whose operations and results are open and transparent.
@@franciscody9622 Norwegian SWF assets are inclusive of the billions of barrel worth of oil reserves buried in the ground which they can pump in times of trouble. You are comparing Durian to apple here. As always, SG haters will always find reasons to discredit Singapore government.
@@franciscody9622and where did the money came from the fund? Oil.
Don't try to act smart, and go study the history of Singapore, any country in the world with no natural resources and still able to develop into an advance economy, tell me
Thank you PM Lee Hsien Loong
is it just me or is the audio very low?
Singapore needs openness and transparency in GLC and Temasek just like the Norwegian Soverign Wealth Fund.
Why don't you talk about China, Kuwait and Abu Dhabi’s sovereign funds? Oh wait NSWF is an outlier. Cry
IMHO, it is a delicate balance in terms of financial transparency. Some information needs to be confidential, the financial world is a cut-throat warzone. Many entities are out for blood and if they know enough, they will take full advantage of it.
@@anonuui We will gt there after talking about Norway.
@@franciscody9622 , Do know that Norway strike oil in the North Sea? let me tell you that in Norway, if u have a child parents can get 1 year off from work and get paid in full ( 6 months each ). Tell me is that sustainable?
@@judymckee5992 poor norway drowning in poverty
While Singapore Leaders were working for the benefit of its citizens, Western Leaders were busy making money for themselves.
I am the 999 likes.
Clear and concise.
I can only imagine...if we had natural resources....this entire framework would have skyrocketed singapore.
how can loss money and get big bonus?
Good question.
Because the returns are higher than loss
Will i be able to know how much is singapore reserves if i watch the whole series? And which part if it is revealed?
None
www.mas.gov.sg/statistics/reserve-statistics/official-foreign-reserves
Total Official Foreign Reserves of July 2023: $340,793.3 million US dollars.
(Three Hundred Forty Billion
Seven Hundred Ninety-Three Million
Three Hundred Thousand US Dollars)
3千4百零7亿
9千3百30万美元
You can do a simple google search, the disclose data about Singapore's total reserve is
"As of 2022, the total size of the reserves has been estimated to be over S$2.2 trillion (2023) (US$1.64 trillion), based on publicly available data from GIC, Temasek, MAS, and CPF, among others. It is generally assumed that Singapore's reserves is far-reaching and significant."
Good to clear doubts and rumour....we all move on together.
Are you "clear" on the size if the reserves?
As important as it is to clarify what the reserves are like, it is concerning that the government finds it appropriate to publish this on a global platform like RUclips where it may motivate bad actors to target Singapore and at the same time, carefully scrutinize how to do so :( so much for secrecy
Bo pian lah! Singaporeans demand more information and "transparency" because they think the SG Reserves with GIC and Temasek are too secretive. But as explained, such acts are difficult to follow even if they have the necessary ingredients or factors. That is not to say they can't be as successful - or even more successful - than Singapore. Singapore is rare - unique and difficult to replicate. Keep the formula the ethics and people - and with the keep on improving mindset. Money and wealth is never enough!
PM Lee speaks like Warren Buffet on Berkshire Hathaway's annual meeting. Appoint the right people, less interference and let these people do their job to grow the money.
Hey hey, these knowledge are new to me. Sounds fresh. Smell nice. Dear Sir. I learn some new stuff today. So interesting. The video is also very well done. If I can go in all these funds and help to make and grow the reserve till it become fat, my life is well live. Alas, I am not at that level. Well. I will make a small contribution by voting for Mr Tharman. I wish we can have 2 presidents so that I can have it all, Tharman plus an up size meal which is uncle Ng Kok song. PM, can you also make a video and explain clearly how speculators can test our dollar? It will be exciting to watch. I want to learn new thing. Thanks.
He will pass that suggestion to Uncle Wong! Singapore politicians go into government with black hair but come out with all white hair. That's the magic formula for Singapore's success!
😊
Company telling its shareholders that they cannot tell the shareholders the total assets of the company because others have interests in bringing Company down. Company keep it secret to counter it. One example. Company use reserves to keep share price stable. Company use reserves for this this this ... so cannot tell shareholders the total aasets of the company. ???
No. Don’t be dumb. This is a country. Others have interests in bringing SGD down. We keep it secret to counter it. One example
So you don't believe there are others that want to bring the Company down? You think that is fake? If you believe there are others that will want to bring the Company down, yet you still want to demand to know the total assets? So how can you protect the assets against those who want to bring the Company down? Can you propose something?
Company money gone and shareholders do not know the total assets of the company problem@@cancanjaker1620
Astroturfing is NOT a crime in Singapore.
You forgot to tell me who should I vote?
You have a brain
I'm from malaysia and how i wish there's a capable leader like HSL managing the country. Of course a malay leader in malaysia
😂😂😂
Just look at MAS Airlines and Singapore Airlines in terms of management quality and performance of financial statements.
Don't appoint people on who you know rather than what they know!
He was not able/capable of giving Singaporeans a First World Standard of Living after almost 60 years under PAP. Let that sink in. The next GE could be his last as PM.
@@franciscody9622not first world standard of living? What we lacking, Food? A roof over our head? Hygiene?
Singapore's cars are the most expensive in the world and yet still so many damn cars on the road.. People queuing up to buy the next Iphone or people losing their sleep trying to get Taylor Swift tickets..
But yea sure we not first world standard of living LOL
5:41 oh yes, didn’t Temasek invest in a few scams too?
FTX $275 MILLION comes to mind
4:31 screenshot this for memes
CNA , these series of Interviews could have been more meaningful if done as a Panel Discussion… Maybe also invite LO PS 😊 …. Can Add to CNA’s Credibility …
Why get Pritam Singh who is currently being investigated by police and public prosecutor for lying in court and covering up Khan's lie? People like LO PS, who are morally corrupt, should never be near the reserves 😇😇😇
Panel discussion muddles the discussion with too many voices, often differing or shades of differences. Better to have one authoritative voice, and then ask questions later for clarification or elaboration. Already many of the FAQs are answered clearly.
@@westwoodly . Firstly , applaud PM for trying to correct current “transparency & Accountability” DEFICIT … 👍 …Under normal circumstances I will be inclined to Agree But think We both know ( Given present Calls for Trans & Acctlty) the Benefits of a Panel Discussion far outweigh any Potential risks ( if there is nothing to hide ) … For Starters,?a Panel Discussion would have not only Shifted the “ Authoritative Voice “ to Independent Moderator but more importantly may also relieved CNA of any “ Pressure “ to ask not so Comfortable Questions …😂😂😂
Correct. So tough questions are asked, not "softball questions".
Is CNA "credible" when it is part if MSM and Singaore is ranked 150+ (out if 180) in terms of press freedom?
Formed to take greater risks😅?
Every investment has risks and rewards. Savings isn’t enough
Better than indo's bumn
Not valid comparison. Info burn do not have massive reserves and perennial Budget surpluses.
❤❤❤ so all this effort is not to help tharman win. Rite? My name Boy Boy 😅 Lets close ranks and continue to Believe.
U have a choice. Don’t assume
Makes me to believe that choosing RACE to be the president is nonsense. I dont care if you are malay chinese or indian. If you are capable. Sit on the position as president. Not to say that sr nathan or halimah contributed nothing. But really, we need THE RIGHT PPL to sit on it. Like tharman, no questions abt it. Or u want some chinese dude that sits on president seat with lesser wisdom as compared to tharman
The fact of the matter is they have invested heavily in prc and now those investments are in deep deep trouble.
The people have the right to know. The people also demand accountability.
How do yo know that the prc investments are in deep trouble. Do you have evidence or is it just your assumption? Post proper questions otherwise you will look stupid. Sorry if you do not like this reply
@@jer2911.Lgoogle
For the 7 persons who liked your post, can you be accountable and present your evidence, thank you.
Can tell that u r not an investment person nor are u rich
@@joantan8543 if you think PRC hasn't suffered from zero covid and natural disasters and wolf warrior diplomacy you're delusional
If the government is so confident of the reserves, why did they go the extent to change the criteria and nominate people of their own group for the presidency and denied Singaporeans their choice?
Are you not voting? Don’t vote base on “your people” vs “Not your people” . Vote the person that you think can do the job of making sure your money does not get squandered.
Delusional
There is still a choice lah! The government ask you not to choose between mango and durian, but to choose only from the different types of durian. Incidentally or by coincidence, only D24 Durian (aka Sultan Durian) was available during the season. So no choice.
The most important lesson for temasek and gov on their NOL and SPH failures are not to put our army generals to run companies. They are not corporates train and proves that army leaderships have no correlation in the corporates settings.
I second this! No more generals for corporates please! Our local born companies should not falter. Every local business/company matter. Just imagine if we still have the Singapore version of Evergreen, TSMC etc.. Think how NOL and Chartered failed. 😢😢
Generally, it's good to have generals because they are experienced in command and control mode. Many have also gone to Ivy League institutions for their management training and education. What we should not have are more lawyers - they are able to tell you not only the glass is half empty, but that the glass should be not be made of porcelain but plastics or paper!
PM Lee also a general. Also not corporate trained.
@@franciscody9622 - But is he a CEO in one of the state owned corporate role?
@@westwoodly - Yea like the umbrage general. If not can you name an experienced generals that have successfully ran a state owned company?
Maaf.negara temasik memang maju ttapi oleh krana jauh dari pmahaman konsep nilai2 islam maka rayat yg mnjadi mgsa tkanan kmajuan, kes ini turut berlaku di korea&jepun.. Contoh dari segi penyakit mental sbab tekanan hidup & fokus mengejar kepesatan ekonomi.. Dalam khidupan setiap manusia, kita perlu seimbangkan setiap aktiviti dalam kehidupan, contohnya hari bekerja cukup 6-8jam/hari - isnin hingga jumaat & satu minggu dua hari cuti, baki 6-8jam masa bekerja harus digunakan untuk beriadah bsama kluarga, krohanian agama masing2.. So itulah makna yang benar@betul maju, kaya & khidupan.. Wallahhualam
Should have asked PM Lee how much was Ho Ching paid when she was Temasek CEO?
Should have asked PM Lee where is the Swiss Standard of Living considering Temasek and GIC have hundreds of billions.
You want swiss standard of living so badly why not go to switzerland and see if they want you 😂
Can't even answer a simple question: what is ho Ching's salary?
Yeah, one for PAP and the other Opposition. Let see who can bet better
Klaus Schwab " You Will Own Nothing & Be Happy "
HDB 99 yr LEASE
Cars 10 yr COE LEASE
SG is the PERFECT EPITOME of WEF
Pls just stay in europe or something like that
Still not convinced about the last part. How do they stop executives at a GLC from pursuing things that they think ministers want, but are commercially unviable? Because they fear being sacked at their next performance review? The direction or interference from ministers doesn't need to be explicit.
through having a board of directors, even though many are government appointed dignitaries. it is a better governance structure than if the money is managed directly by the ministry, where employee hierarchy made it even more influenced by what the minister wants. the lower level officers would not go against their deputy director, director, group director, etc. bureaucratic reporting to the highest ranking person in the room. GLC chief executive and chief investment officer has to explain to the queries of the board openly in recorded corporate minutes and annual reports.
Singaporean dont need to know but the president should know
Never mind if you're not interested to know but not only the President has the sole right to know n am sure many Singaporeans are anxious to know too, especially where their CPF's entitlement goes to n hopefully not to investing in some sorts of toxic products.
@leechengho8407 the problem is even the president dont know
@Broskisnowski thats what gov said. They quoted security issue. I am trying to say if its security issue then the president should know how much it is. Unfortunately even president dont know.
Better for Singaporeans also know to help the EP. Openness and transparency in the public sector is always good. That is why Singapore needs REGIME CHANGE.
Singapore Petrol 95 soar to $2.80/litre, Malaysia at $0.60 per litre and Octane 97 at just $0.90.
Example COE, sky high hardly affordable 99 years leasehold apartment while most Malaysian are staying in landed properties and No COE and No GST regardless of their weaker currency. Their Petrol are cheaper, they buy $4 chicken and you buy $12 same chicken.
Malaysia no GST and major surgery at ZERO $ compare to Mandatory Medishield and still must pay. Hospital 1 night easily $1500 per day and claimed ZERO dollar [see fine print on deductibles].
Time for Change in 2025.
yes its time for a change. When will you be migrating to Malaysia? shoo
Huh? Then u should move there. Earn and spend there, can rest and retire there. Same same.
@@leanne2330 I'm not the one who is whining about life on Singapore.
@@ML-yu5ij Why move to Malaysia? It is easier to VTO.
@@leanne2330 No just VTO. Cheaper and more effective.
Temasek was established in 1974
GiC in 1984, subsequently Central Bank of Singapore MAS, under the guidance of renowned Minister
Dr. Robert Goh Keng Swee.
Dr. Goh Keng Swee's consultants were the Rosthchild family & Co who's origin Jewish in Germany.
The current government taking credit on the is appalling.
The current PAP government is fortunate by CCP' s misfortunes.
Hong-Kong, COVID & Natural Disasters in Mainland China.
Singapore is the biggest investor in China near to $300 billion.
About 3yrs back Singapore invested 12 billion in China development sector - Good bye washed away by the floods.
MAS recently reported 30 billion loss the , number is way above .
This drama is put up as a prelude to National Day Rally speech.
Unfortunately for the PM, many will be watching the Women's football finals.
Does the Reserve include singaporeans cpf funds?
Clearly you did not watch Part 1 before asking.
When you look at the chaotic management of the united states and then this, its just mind blowing. Singapore has always been a guiding lighthouse of chinese CCP govt. and apparently china has found the best teacher of governing in the human society.
Ghost commenter 1
@@deschan2246why would you say that
@@deschan2246im not saying that china is doing exact what singaporean govt is doing, but there are some key lessons chinese govt are studying fr singapore, Chairman Deng has learnt to stopped spreading communist idealogy after meeting lee kuan yew, Deng has learnt to focused on edcuation and opening up after learning from SIN, even to this day, due to the housing market bubble, my city of Shenzhen, is learning govt housing program from SIN. Im just saying, in history, chinese govt always seeks guidance from singaporean govt cos its a successful city state govered by chinese people with similar values. Save for the rainy days.
Where is the SwIss Standard of Living?
@@franciscody9622 If we had the same amount of land, we would have the swiss standard of living
If it is NOT 100 million than how much is it?
Good question.
In the end when SIA was down during COVID, government stepped in. So it’s still a government enterprise after all.
it's a NATIONAL carrier. What do you think?
It’s a good investment considering how SIA has never disappointed its clients and passengers by offering quality service and thoughtful catering that made it in one of the best airlines in the world.
@@cancanjaker1620 yes. So SIA is never a private enterprise.
@@syafsmith5085 of course.
@@Scambuster491 so what's your point whining about it not being private enough for you? Or are you starting to understand just how much the economy is dependent on good governance management?
FYI, in countries like US which you look to as your beacon of private enterprises and government democracy. Their governments are controlled by their private enterprises. Is that better for you?
Who made the decision to invest in ftx? They should be shamed for absolute incompetence
ya this was a really dumb idea. that guy/gal should be brought forward.
Investments will go wrong from time to time, its never risk free
Absolutely right. Saying Temasek can afford to be "contrarian" is ludicrous became FTX was a scam, a fraud. It had no chance of making money for investors.
@@martian5715 True. But there is a big difference between business risk and stupidity and incompetence.
PM LHL should clarify how billions Temasek lost investing in Merrill Lynch and Barclays during the 2008 Financial Crisis. He should also say how many billions GIC lost investing in UBS. Who was resonsible? Who was held accountable?
Do you hold yourself accountable to every mistake you made in your life? I don't think most people do. They go easy on themselves but hard on others
Hello uncle, investments are not 100% returns. You kept biting on the loss and yet our reserves are still growing each year, why not say our returns are higher than the loss? guess thats hard for you to swallow.
@@leonardchua12345 I feel like they should put more than 50% into reserves on the subsequent years after pulling from reserves. The more reserves u have, the more your NIRC, the less reliant we need to be on taxes. But I think citizens will complain that that will be depriving the present for the future.