$Billions losses? Where is the transparency? The PAP government would of course insists this is merely speculation. Why then doesn’t it quash the speculation with transparency at GIC? The answer is ‘it cannot’ because transparency will prove the above is not speculation! Instead, we have ‘clarifications’ by Minister Tan Chuan Jin, Lim Swee Say, DPM Tharman, MP Hri Kumar, etc which are mostly general statements unsupported by relevant facts. The mainstream media, as usual, has been roped in to help sell snake oil to a well educated and sceptical public. The number of frustrated and shortchanged CPF members has been increasing. Government must cease misleading CPF members The government must not continue to mislead CPF members by emphasising our “CPF funds are invested in risk free SSGS” because it knows the ultimate destination is GIC which invests overseas. The geographical distribution of CPF monies is shown below. CPF funds are not risk-free.
Posted on: Sat, 28 Jun 2014 07:31:42 +0000
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