GIC Disclosed More Information in Reports Over 4 Years, Ng Says
Ng Kok Song, chief investment officer of Government of Singapore Investment Corp., comments on increasing the level of disclosure by the city-state’s sovereign wealth fund. Prime Minister Lee Hsien Loong, who’s the chairman of the fund that manages more than $100 billion of the country’s reserves, said he wants to share more information about its investments with the public, Today newspaper reported on Oct. 21.
Ng spoke in an interview at the investment fund’s office in Singapore today.
“If you look at the GIC report which we’ve put up over the last four years, with each report, there has been more and more disclosure. We want to share as much as we can subject to our competitive position as an investor not being jeopardized.
“You don’t want to disclose everything and lose your competitive edge. The people of Singapore expect us to manage their money in a way which protects their interests. Sometimes protection of interest may mean that we cannot divulge everything.
“We understand the desire of the public to know. So I think it’s a question of finding the appropriate amount of disclosure. Every successive report that we’ve put out has given more information than previously.”
To contact the reporter on this story: Sanat Vallikappen in Singapore at vallikappen@bloomberg.net
To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net
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