How much did GIC lose?
The amount lost by Temasek, 31% or about $58 BILLION has been well reported. In Parliament yesterday, this amount was again confirmed, from S$185b to S$127b. How much did GIC lose? The figure quoted in Parliament was 25%. 25% of what? How much was GIC managing? S$100b, $200b or $500b? Presumably GIC was managing more than Temasek. At $200b, 25% is $50 BILLION. At $500b, 25% will be $125 BILLION. So what is the actual amount lost by GIC? The MPs were asking for more transparency. Will more be made known given the changing mindset towards a more transparent and more accountable system? The leader of the opposition, Inderjit Singh, was speaking in his usual role and supported by several MPs on this issue.