The Government of Singapore Investment Corporation (GIC) cannot disclose the exact amount of assets it manages and its annual profit and loss because doing so would open Singapore to speculator attacks on its currency, the Ministry of Finance (MOF) said.
When such data are taken together with the disclosed figures of the Monetary Authority of Singapore and Temasek Holdings, the full size of the country’s financial reserves would be made known, said director of corporate communications at MOF Lim Bee Khim in a letter published in a newspaper on Friday. Full story
