The Wall Street Journal
22 Apr 2008
SINGAPORE -- The Government of Singapore Investment Corp. views stakes in Citigroup Inc. and UBS AG as long-term investments that may be slow to bear fruit as markets remain difficult, a senior executive said Monday.
"We regard our investments in UBS and Citigroup as long-term investments, which will give us good returns when markets stabilize and economic conditions return to more normal levels," GIC Deputy Chairman and Executive Director Tony Tan said in a speech.
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