Are they still there? This is the question that Singaporeans keep asking about our financial reserves but to which answers don't seem to be forthcoming.
If they are still there, how are they invested? Are the investments carried out in socially responsible ways? What are the returns? Are they benefiting the people or just the ones managing the reserves? Who makes the decisions on these investments and do Singaporeans have a say?
The concern over the performance of our investments is justified especially when we hear about mega flops in the projects that the GIC and Temasek Holdings are involved with. Below is a compilation of business ventures and investments carried out by the two funds that have gone awry and the amounts of money that were involved. Needless to say the list is not exhaustive
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