The Wall Street Journal, 17 Feb 2009
SINGAPORE -- The Government of Singapore Investment Corp. saw an investment loss of around 50 billion Singapore dollars (US$33 billion) in 2008 as a result of tumbling asset prices around the world, two people familiar with the situation said.
"The loss on the investment portfolio last year is estimated at around S$45 billion to S$50 billion," one of the people said. "But GIC has no thoughts to sell down any of its major investments. They'll wait until they recover."
Read More
PS: Full article was also posted in here.
