Firstly the number of Singaporeans that are not aware what happens to their CPF fund is astounding.
Secondly the number of Singaporeans that are not aware that CPF funds form the largest component of investment funds send over to the 3 entities are amazing
Thirdly the number of Singapore that are not aware that the returns from these 3 entities via the Govt does not reflect a fair value even with govt iron clad guarantee priced in is surprising
Fourthly the number of Singaporeans that are not aware about the Governance framework for these investments is shocking.
There are 4 major corollaries and each of these can drive 4 completely separate and distinctive discussion tells you that we are generally not aware what goes on. We have been nurtured not to a ask about how the government operates and pure faith in the Govt is expected.
Let me start the ball rolling by addressing point 4 - There is no minister sitting on the board of Temasek which is one of 2 Govt Sovereign funds. The Accountant General and Auditor General have no role in Temasek. It can appoint its own auditors. A sovereign fund using funds from a State Pension/ Retirement fund can invest in start-ups and venture capitals is beyond belief. Typically pension funds around the World invest only in conservative investment grade stocks and instruments. So what is exactly the control over Temasek? Why no role of Accountant General and Auditor General?
Secondly the number of Singaporeans that are not aware that CPF funds form the largest component of investment funds send over to the 3 entities are amazing
Thirdly the number of Singapore that are not aware that the returns from these 3 entities via the Govt does not reflect a fair value even with govt iron clad guarantee priced in is surprising
Fourthly the number of Singaporeans that are not aware about the Governance framework for these investments is shocking.
There are 4 major corollaries and each of these can drive 4 completely separate and distinctive discussion tells you that we are generally not aware what goes on. We have been nurtured not to a ask about how the government operates and pure faith in the Govt is expected.
Let me start the ball rolling by addressing point 4 - There is no minister sitting on the board of Temasek which is one of 2 Govt Sovereign funds. The Accountant General and Auditor General have no role in Temasek. It can appoint its own auditors. A sovereign fund using funds from a State Pension/ Retirement fund can invest in start-ups and venture capitals is beyond belief. Typically pension funds around the World invest only in conservative investment grade stocks and instruments. So what is exactly the control over Temasek? Why no role of Accountant General and Auditor General?
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