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Ah Hua: Sg Reserves But GONE!

makapaaa

Alfrescian (Inf)
Asset
Remember the truth is always the oppositie of what the Papaya running dogs claim!

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Aug 28, 2008
</TR><!-- headline one : start --><TR>S'pore reserves can survive <!--10 min-->
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Li Xueying
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'Still, we can ride through the cycles of upturns and downturns in financial markets,' Mrs Lim said. -- PHOTO: THE NEW PAPER
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<!-- START OF : div id="storytext"-->LIKE other investors, Singapore has seen its investments 'inevitably affected' by the ongoing global market turmoil.
However, precautionary measures taken early helped mitigate the risks to Singapore's overall portfolio, said Senior Minister of State for Finance and Transport Lim Hwee Hua.
She gave this assurance on Wednesday to Nominated MP Eunice Olsen, who had asked about the impact of the turbulance on Singapore's reserves and investments.
Mrs Lim noted that since the start of the year, most of the key global indexes had fallen for both equities and bonds: 'This has inevitably affected the investments that constitute our reserves, as it has for other global investors.'
Global markets should stay volatile until risks arising from slower growth, higher inflation and financial stresses subside.
'Still, we can ride through the cycles of upturns and downturns in financial markets,' Mrs Lim said.
First, Singapore invests its reserves with a long-term horizon, she said.
'This long-term orientation will keep us from selling in panic in a market downturn. The downturns also offer opportunities for our agencies to invest in good-quality assets at prices that are attractive from a long-term perspective.'
Second, investments are diversified across a range of assets and currencies. And Singapore emphasises 'sound governance and proper risk management procedures in investments by GIC and Temasek'.
Ms Olsen wanted to know if the ministry 'asks questions as a shareholder only years after the investments are made'.
No, answered Mrs Lim. The Government of Singapore Investment Corporation (GIC) and Temasek Holdings make regular reports to her ministry.
Ms Olsen noted that Temasek made a record profit of $18 billion for the financial year ended March 31 this year. But shareholders' return by market value fell to 7 per cent from 27 per cent a year ago.
'Does the Ministry of Finance have as much confidence in our investments this year?' Ms Olsen asked. Mrs Lim replied: 'The (best paid) Government is not (???) in a better position than Temasek and GIC to assess these investments. It has entrusted both agencies to undertake these long-term investments because they're in a better position to do this.'
 

myfoot123

Alfrescian (Inf)
Asset
She came from the marginal winner of aljunied GRC. I wonder why all PAP members gave very fake smile. I have the urge to punch off all her fake teeth.
 
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