GIC lost USD 41 Billion for FY end March 2011, true or not?

[Unrepented]

Saw this in a comment in Yahoo, true bo :( ? No time to kapo and check, any inputs?

"Today i received a report from my friend that GIC just lost USD 41 Billion for FY end in MARCH 2011- It was reported in AWSJ - and the town council in Bukit Panjang lsot 8 million due to bad investment- and yet Dr VB claimed that all these are fabricated by opp - i am running out of words to describe thsi Dr VB"

 

[Sleepless]

I think that was FY2009.

USD41B. SGD60B.

Can someone ask Vivienne B how many zeros are there in $60B, please??!!

http://singaporeelection.blogspot.com/2011/04/wsj-singapores-gic-suffers-416-billion.html

 

[takchenow]

http://online.wsj.com/article/SB125418236117447877.html?mod=googlenews_wsj

Singapore's GIC Suffers $41.6 Billion Loss
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BY COSTAS PARIS AND P.R. VENKAT

SINGAPORE – Government of Singapore Investment Corp. suffered a loss of about 59 billion Singapore dollars (US$41.60 billion) in the fiscal year ended March 31, making it one of the worst years for the sovereign wealth fund since it was started in 1981, people familiar with the situation said Tuesday.

One person said GIC's portfolio currently stands at around S$265 billion after drops in equity investments and property valuations. GIC, which doesn't disclose the value of its portfolio or amounts of yearly gains or losses, said in its annual report that its portfolio lost more than 20% in value in ...

 

[Spearhead]

Do we want to give PAP to throw out money into bad investment and dumping into another over 240millions event again?????

Time to say bye bye to Dr.VB...!!!

 

[karmabear]

Wait, what is this about town council losing money? Why is town council making risky investments anyway? thats not part of their mandate.

 

[eErotica69]

That was in 2009!

 

[SINgaporean]

That's why they need to have to casinos - sure win win!


From Singapore (lion city) to SINgapore (sin city)