How much is our reserves?
Everyone seems to be quoting this word, 'reserves' freely. How much is actually our reserves, what constitute our reserves and where are they? Our CPF a part of the reserves? How much of Temasek and GIC assets are part of our reserves? Then there is another reserves guarded by the President. How much is this and where and in what form?
Can someone clarify on the above mess and put the amount and parts in a simpler manner so that we know what it is all about?
According to the annual report of CPF board, majority of our CPF money are invested in "Special issues of Singapore Government securities"... I suspect that is where Temasek and GIC gets most of their funds from besides the profits made by the GLCs, HDB. Therefore, although technically GIC and Temasek does not "borrow money" from foreign countries. It is possible that they do borrow from the people of Singapore i.e., CPF. I stand corrected.
ReplyDeleteRookieLim
If there was a conspiracy in government and the corrupt buggers siphoned off all the reserves into off-shore accounts, they would get away with it -- at least for awhile.
ReplyDeletetnanks rookie.
ReplyDeletewith all the borrowing and lending, and borrowing and investing, there will be a lot of overlapping and double or triple counting. how much of the reserves are actually the people's money from the cpf and how much are from incomes from other agencies. then there is the land sales which i think go into some separate account.
and as matilah said, some are part all over the places abroad. i think it will take many manyears to trace them and work out the numbers.