Lee Hsien Loong just lost S$ 7.4 million of CPF funds in Vietnam taxi company

According to the Ho Chi Minh City Stock Exchange financial investment disclosure on May 25, Chairman of GIC Lee Hsien Loong lost S$ 7.4 million on Vietnam taxi business Vinasun. In Aug 2014, GIC paid VND202 billion (about S$ 11.82 million in 2014 worth) for 7.96% of the shares, and offered them all last month on 25 May 2018 at VND75 billion (S$ 4.39 million). The 62% loss equates to a S$ 7.4 million loss in value.This news went unreported in Singapore's state media, which is ranked 151st worldwide for credibility.In current years, there has actually been rising public anger over

losses of national reserves and CPF funds by GIC and Temasek Holdings. Totalitarian Prime Minister Lee Hsien Loong, who is currently paid S$ 2.2 million a year, sits himself as the approximated S$ 1 million-a-year Chairman of GIC-- a position he acquired from his father Lee Kuan Yew-- and his better half Ho Ching was made the approximated S$ 10 million-a-year CEO of Temasek Holdings. The effective however corrupted couple have in recent years making high profile losses, due to the absence of financial investment acumen.Since the 2009 monetary crisis where Temasek Holdings reportedly lost S$ 39 billion in a single year, Singaporeans have been on the alert on overseas losses unreported in Singapore media. In 2017,< a href=http://statestimesreview.com/2017/07/09/gic-make-record-losses-at-least-s43-billion-losses-in-fy20162017/ > GIC lost about S$ 43 billion while Temasek Holdings had problem with a 1.6%return. There has been a variety of high profile losses including Temasek Holdings, including the S$ 1 billion losses of Neptune Orient Line(NOL), undisclosed ComfortDelgro losses over stopped working Uber stake, bailing out of SMRT and a S$ 61 million loss in China. Just earlier this week, Ho Ching announced that Temasek Holdings will provide< a href =http://statestimesreview.com/2018/06/05/temasek-holdings-issues-new-debt-products-to-raise-money-from-public/ > a brand-new personal equity debt program to raise funds from the public. The news triggered fresh worries of losses in the sovereign fund companies, as her hubby Prime Minister has in recent raising CPF Minimum Amount(doubling it from S$ 80,000 to S$ 181,000)and raising Withdrawal Age (from 55 to 65 ). During this year's Budget plan, Lee Hsien Loong revealed a 2 %GST hike, in addition to a 30 %water price boost, 4 %gas tariff increase, carpark fees increase and several other everyday taxes.

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http://statestimesreview.com/2018/06/06/lee-hsien-loong-just-lost-s7-4-million-of-cpf-funds-in-vietnam-taxi-company/