Committee of Supply 2025 debate, Day 1: Louis Chua on transparency of sovereign wealth funds
Singapore’s sovereign wealth funds are “falling short” when it comes to transparency, said MP Louis Chua in parliament on Friday (Feb 28). He noted that GIC does not share annual performance figures and that Temasek Holdings is investing in increasingly complex investment structures which require more oversight, not less. Mr Chua said the investment managers managing Singapore’s reserves must be held to higher standards and “any attempts to deflect this via operational independence must be rejected”. He also suggested leveraging the CHAS, Merdeka and Pioneer Generation schemes to make the benefits of the CDC Voucher Scheme more targeted and efficient, and urged a review of F&B outlets being allowed to display menu prices without GST and service charge.
Singapore’s sovereign wealth funds are “falling short” when it comes to transparency, said MP Louis Chua in parliament on Friday (Feb 28). He noted that GIC does not share annual performance figures and that Temasek Holdings is investing in increasingly complex investment structures which require more oversight, not less. Mr Chua said the investment managers managing Singapore’s reserves must be held to higher standards and “any attempts to deflect this via operational independence must be rejected”. He also suggested leveraging the CHAS, Merdeka and Pioneer Generation schemes to make the benefits of the CDC Voucher Scheme more targeted and efficient, and urged a review of F&B outlets being allowed to display menu prices without GST and service charge.
