Tuesday, January 20, 2009

Losses less than markets'

"Mr Shanmugaratnam said investments by GIC and Temasek had not been spared by the global financial crisis.

He said as at Dec 31, the MSCI World (Equities) had declined by 42 per cent in 2008, slightly worse than the 40 per cent decline as at end October.

The MSCI (Singapore) fell by 50 per cent over the year.

'Investments by GIC and Temasek have inevitably been affected, like those of other global investors,' he said.

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