From Themalaysianinsider.com: The Government of Singapore Investment Corporation (GIC) has suffered losses investing in a prime New York property project after the American owners defaulted on a debt payment last Friday.

The exact size of the hit has not been disclosed but GIC is said to have invested a total of US$675 million (RM2.25 billion) in Manhattan’s Stuyvesant Town and Peter Cooper Village……………………………………Full Article: Source