The New Straits Times, 19 Jan 2009
Singapore’s sovereign wealth funds, Temasek Holdings and the Government of Singapore Investment Corp (GIC), have suffered some losses in their foreign investments due to the world financial meltdown last year.
“Investments by GIC and Temasek have inevitably been affected, like those of other global investors,” Finance Minister Tharman Shanmugaratnam said in Parliament today.
However, he said, their overall value had fallen by less than the decline in global equity markets, as they maintained diversified portfolios and had taken precautionary actions early in the crisis to reduce their exposures to the equity markets.
Read More
