PAP don't like political opinions based on emotion
The truth is PAP never called on Mr Brown to support his views, instead they have completely shut him up from ever voicing on any national issues.
They have once again demonstrated how freedom and rights of citizens are easily lost and regaining them are going to be very difficult and impossible given such circumstances.
PAP is unscrupulously trying to shut down Mr. Brown for dissenting views. However, this kind of supression will only generate more response. Check out the response video at : http://www.youtube.com/watch?v=dQxU3K-w0bU which is already watched by more than 10,000 people. Many Singaporean bloggers supporting Mr. Brown are putting this video on their blogs. :)
PAP never change.... all pack of lies... want a more open society... now shut down MR brown... instead of moving forward in these internet age , PAP is moving backward ... this is what a first class government would do... crying shame...
Can you please start a new blog on this CNA article? Please feel free to remove this post from this thread as it is irrelevant. But please include this on the new thread.
Anyone with basic financial knowledge will know that any bond price is linked to the credit rating of the the underlying counterparty. The poorer the credit rating, the higher the yield that is expected on a bond. If GIC starts investing Singapore funds in junk bonds, what do you think will happen to the Singapore government credit rating? Wouldn't you expect a higher return on the Singapore government bond given that they are now investing in higher risk asset classes? Shouldn't this be reflected in a higher CPF rate given that the Singapore government bond could now be deemed to be of a poorer investment grade?
MM Lee clarifies GIC's earnings not linked to CPF interest rates By May Wong, Channel NewsAsia
Minister Mentor Lee Kuan Yew has clarified that GIC's earnings are not connected to the interest paid on CPF accounts.
He was speaking at GIC's 25th anniversary dinner at the Ritz Carlton.
The Government of Singapore Investment Corporation (GIC) is a global investment management company established to manage Singapore's foreign reserves.
MM Lee said that the GIC invests the government's reserves abroad in assets which carry higher risks like equities, bonds, real estate.
Therefore these are expected to earn higher returns on average over the long term.
The returns are not related to CPF investments.
"The CPF invests members' savings only in absolutely risk-free Singapore government bonds," MM Lee said.
"CPF members are paid market-related interest rates based on the 12-month fixed deposit rates and the savings account interest rates of the major Singapore banks, subject to a floor," he said.
"CPF members who are willing to accept higher risks for higher returns have many channels to do so on their own through the CPFIS scheme," he added.
Mr Lee said that the GIC has significantly enhanced the value of Singapore's savings.
But the growth of China and India will present more opportunities in the future.
So he feels that the GIC needs to continue to build up the quality of people as one of its success factors.
But it is not just about retaining home-grown talent.
"We need to create an environment where professionals can be deployed where they can best exercise their skills and maximise their contribution," MM Lee said.
"As a global investor operating in many asset classes across 40 countries, GIC can offer abundant opportunities for exceptional professional growth and experience," he added.
Mr Lee also said that the training opportunity and exposure at GIC are probably unmatched among large investment firms in Asia.
He hopes that the professionals will view their work at GIC as a long-term career.
Over 25 years, GIC has grown to an outfit that invests in over 40 countries through nine asset classes, handling over a hundred billion dollars.
And its track record has been good.
Over a period of 25 years to March 2006, the annual rate of return on the foreign reserves managed by GIC averaged 9.5 percent in US dollar terms, and 8.2 percent in Singapore dollar terms.
The average rate of return over global inflation was 5.3 percent per annum.
PAP is unscrupulously trying to shut down Mr. Brown for dissenting views. However, this kind of supression will only generate more response. Check out the response video at : http://www.youtube.com/watch?v=dQxU3K-w0bU which is already watched by more than 10,000 people. Many Singaporean bloggers supporting Mr. Brown are putting this video on their blogs. :)
ReplyDeletePAP never change.... all pack of lies... want a more open society...
ReplyDeletenow shut down MR brown... instead of moving forward in these internet age , PAP is moving backward ... this is what a first class government would do... crying shame...
PAP are a bunch of pathetic liers
ReplyDeleteOpinions are based on emotions when they don't support the govt.
ReplyDeleteTo SingaporeElection administrator:-
ReplyDeleteCan you please start a new blog on this CNA article? Please feel free to remove this post from this thread as it is irrelevant. But please include this on the new thread.
Anyone with basic financial knowledge will know that any bond price is linked to the credit rating of the the underlying counterparty. The poorer the credit rating, the higher the yield that is expected on a bond. If GIC starts investing Singapore funds in junk bonds, what do you think will happen to the Singapore government credit rating? Wouldn't you expect a higher return on the Singapore government bond given that they are now investing in higher risk asset classes? Shouldn't this be reflected in a higher CPF rate given that the Singapore government bond could now be deemed to be of a poorer investment grade?
MM Lee clarifies GIC's earnings not linked to CPF interest rates
By May Wong, Channel NewsAsia
Minister Mentor Lee Kuan Yew has clarified that GIC's earnings are not connected to the interest paid on CPF accounts.
He was speaking at GIC's 25th anniversary dinner at the Ritz Carlton.
The Government of Singapore Investment Corporation (GIC) is a global investment management company established to manage Singapore's foreign reserves.
MM Lee said that the GIC invests the government's reserves abroad in assets which carry higher risks like equities, bonds, real estate.
Therefore these are expected to earn higher returns on average over the long term.
The returns are not related to CPF investments.
"The CPF invests members' savings only in absolutely risk-free Singapore government bonds," MM Lee said.
"CPF members are paid market-related interest rates based on the 12-month fixed deposit rates and the savings account interest rates of the major Singapore banks, subject to a floor," he said.
"CPF members who are willing to accept higher risks for higher returns have many channels to do so on their own through the CPFIS scheme," he added.
Mr Lee said that the GIC has significantly enhanced the value of Singapore's savings.
But the growth of China and India will present more opportunities in the future.
So he feels that the GIC needs to continue to build up the quality of people as one of its success factors.
But it is not just about retaining home-grown talent.
"We need to create an environment where professionals can be deployed where they can best exercise their skills and maximise their contribution," MM Lee said.
"As a global investor operating in many asset classes across 40 countries, GIC can offer abundant opportunities for exceptional professional growth and experience," he added.
Mr Lee also said that the training opportunity and exposure at GIC are probably unmatched among large investment firms in Asia.
He hopes that the professionals will view their work at GIC as a long-term career.
Over 25 years, GIC has grown to an outfit that invests in over 40 countries through nine asset classes, handling over a hundred billion dollars.
And its track record has been good.
Over a period of 25 years to March 2006, the annual rate of return on the foreign reserves managed by GIC averaged 9.5 percent in US dollar terms, and 8.2 percent in Singapore dollar terms.
The average rate of return over global inflation was 5.3 percent per annum.