24.02.2015 - Projected earnings of Temasek Holdings to be part of Govt’s Net Investment Returns Framework
With government spending set to increase, Finance Minister Tharman Shanmugaratnam said that it is necessary to take steps to strengthen future revenues, with the first step being to include the projected earnings of Temasek Holdings in the Net Investment Returns (NIR) framework. Under this framework, the Government is allowed to spend up to 50 per cent of the expected long-term real returns on net assets managed by the investment entities of Monetary Authority of Singapore and GIC. The portolios of GIC and MAS are already part of the NIR framework. The inclusion of Temasek Holdings was deferred as there was no established methodology for projecting the long term expected real returns on its portfolio, as well as its still evolving investment strategy, said Mr Tharman, who delivered the Budget Statement in Parliament today (Feb 23)...............................................Full Article: Source