Bloomberg.com, 10 Feb 2009, Chen Shiyin
Feb. 10 (Bloomberg) -- Singapore is “confident” that state-owned investment companies Temasek Holdings Pte and the Government of Singapore Investment Corp. will deliver long-term returns even as stock markets tumble amid a global recession.
GIC and Temasek have the resources to weather market cycles, Lim Hwee Hua, senior minister of state with the finance ministry, said today in Parliament. The government will review the risk limits for the two state-owned investment companies, she said, adding that the existing guidelines aren’t aggressive.
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