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Hi ML,
Read MOF’s website on the Reserves Mgmt Framework. Pls clarify a few pts:-
1. Is the Official Foreign Reserves managed by MAS of S$295 billion a Past Reserve to be managed and protected by MAS? Does MAS manage present Reserves?
2. The same web page says “the size of Temasek’s portfolio was S$193 billion”. Is this also considered a Past Reserve that must be protected by Temasek?
3. I can accept that GIC’s past reserves are super confidential. However, will the figures be made known to the President privately (and not to the whole world)? If not, the President will not have a complete picture of what he is supposed to protect.. Monies can be drained out from GIC’s past reserves right under the President’s nose.
4. When the govt says that our CPF monies are protected and guaranteed, come hell or high water we will get our CPF monies back, regardless of a crooked govt in power. Is this correct? Tks.
ReplyDear VSL,
1) I believe the numbers should be last available figures.
3) It was also mentioned on the page that the figures for GIC will be made available to the President.
4) The guarantee is only as good as the person who is guaranteeing it. If the government changes the rules, what can you do?
ReplyThis statement is technically incorrect isn’t it? 😉
“I seldom buy overseas stocks directly.”
Hmmm… the key word is direct. Most of my stock purchases are done via SGX. 😛
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