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With this as a backdrop, the above information thus becomes even more interesting.
1.First, if the government, and the Singapore prime minister no less, is on the Board of Directors of the GIC, then can the GIC not know that they are using our CPF to invest?
2.And if the GIC would know that they are using our CPF to invest, then why did they tell us previously that they do not know?
3.If the government knows that they are using our CPF to invest in the GIC, why did the government not admit to this information previously?
4.Why did the government/GIC only admit to this information a few weeks ago that they are using our CPF to invest in the GIC?
Also, do you know that the GIC claims that, “The Government, which is represented by the Ministry of Finance in its dealings with GIC, neither directs nor interferes in the company’s investment decisions. It holds the board accountable for the overall portfolio performance.”
Again, can it be possible that the government does not direct or interfere in the GIC when the government, again the Singapore prime minister no less, is on the Board of Directors of the GIC? According to Phillip Ang, “GIC’s performance is not as stellar as made out to be by the government. In fact, it appears to be punting with CPF monies and has been simplistic and even reckless! … In 2007, total CPF members’ balance was $137 billion. A prudent fund manager would not have sunk 10% of total funds into a single investment. GIC was totally reckless. The board of directors should have been held accountable.” Phillip Ang also discussed GIC’s investment failures in his article and said that, “CPF members are now paying the price for GIC’s failure.”
Thus:
1.If the government is also the GIC, then is the government’s priorities taking care of Singaporeans’ CPF, or earning via the GIC?
2.Also, if the government is also the GIC and when the GIC makes investment failures with Singaporeans’ CPF, who will hold the GIC accountable? Can the government hold the GIC accountable when the government is the GIC, and especially when the Singapore prime minister is the GIC Chairman? Can the Singapore Prime Minister hold himself accountable?
3.If the government is the GIC, then isn’t there a conflict of interest?
Perhaps the most important question of all is this – other than earning millions in salaries as the government from Singaporeans’ taxpayers’ money, how much are the ministers who are also on the GIC’s Board of Directors also earning in salaries from Singaporeans’ CPF? Have Singaporeans ever been told how much of our CPF is used....http://thehearttruths.com/2014/06/3...nsparent-about-how-they-use-singaporeans-cpf/
1.First, if the government, and the Singapore prime minister no less, is on the Board of Directors of the GIC, then can the GIC not know that they are using our CPF to invest?
2.And if the GIC would know that they are using our CPF to invest, then why did they tell us previously that they do not know?
3.If the government knows that they are using our CPF to invest in the GIC, why did the government not admit to this information previously?
4.Why did the government/GIC only admit to this information a few weeks ago that they are using our CPF to invest in the GIC?
Also, do you know that the GIC claims that, “The Government, which is represented by the Ministry of Finance in its dealings with GIC, neither directs nor interferes in the company’s investment decisions. It holds the board accountable for the overall portfolio performance.”
Again, can it be possible that the government does not direct or interfere in the GIC when the government, again the Singapore prime minister no less, is on the Board of Directors of the GIC? According to Phillip Ang, “GIC’s performance is not as stellar as made out to be by the government. In fact, it appears to be punting with CPF monies and has been simplistic and even reckless! … In 2007, total CPF members’ balance was $137 billion. A prudent fund manager would not have sunk 10% of total funds into a single investment. GIC was totally reckless. The board of directors should have been held accountable.” Phillip Ang also discussed GIC’s investment failures in his article and said that, “CPF members are now paying the price for GIC’s failure.”
Thus:
1.If the government is also the GIC, then is the government’s priorities taking care of Singaporeans’ CPF, or earning via the GIC?
2.Also, if the government is also the GIC and when the GIC makes investment failures with Singaporeans’ CPF, who will hold the GIC accountable? Can the government hold the GIC accountable when the government is the GIC, and especially when the Singapore prime minister is the GIC Chairman? Can the Singapore Prime Minister hold himself accountable?
3.If the government is the GIC, then isn’t there a conflict of interest?
Perhaps the most important question of all is this – other than earning millions in salaries as the government from Singaporeans’ taxpayers’ money, how much are the ministers who are also on the GIC’s Board of Directors also earning in salaries from Singaporeans’ CPF? Have Singaporeans ever been told how much of our CPF is used....http://thehearttruths.com/2014/06/3...nsparent-about-how-they-use-singaporeans-cpf/
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