03.08.2016 - Singapore State Investment Fund Chaired By Its Prime Minister Reports Multi-Billion Dip In Profits
Government Investment Corporation of Singapore (GIC) which is chaired by its prime minister Lee Hsien Loong reported “a dip in its 20-year annualised real rate of return to 4 per cent” in its 2016 annual report. GIC reported a dip in its 20-year annualised real rate of return to 4 per cent from the previous year's rate of 4.9% for the financial year ended March 31, Singapore news daily The Straits Times reports on 28 July. According to Singaporean finance and politics news blog, statestimesreview.com, that 0.9% translates to an estimated loss of at least US$20 billion (over RM81 billion) although the report points out that the real estimate could be as high as US$50 billion to cause a 0.9% drop in 20-year annual rate of return based on a US$135 billion 20 years ago...............................................Full Article: Source
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