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Finance Minister Defends GIC, Temasek Amid Criticism

1/13/2026

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Summary

Story summary

On January 12, 2026, Senior Minister of State for Finance Jeffrey Siow defended GIC and Temasek amid criticism.
Temasek's 10-year return of 5% lagged benchmarks but remained reasonable given its mandate and risk.
GIC's 20-year annualized real return was 3.8%.
The government does not intervene in investment decisions.
Temasek is held to long-term returns.

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Story summary

On January 12, 2026, Senior Minister of State for Finance Jeffrey Siow defended GIC and Temasek amid criticism.
Temasek's 10-year return of 5% lagged benchmarks but remained reasonable given its mandate and risk.
GIC's 20-year annualized real return was 3.8%.
The government does not intervene in investment decisions.
Temasek is held to long-term returns.