July 30, 2021

10 thoughts on “How Rich is Singapore? Our reserves! (Part 2)

  1. To let you understand better, let’s say normal year Sg suppose to surplus $10b. Return of investment $20b. so every year sg has $30b richer.

    Now we spend $60B. So we are -30B. But we top up $20B from past reserves!

    so we are still $10B deficit this year.

    Reference you can find from Ministry of Finance website!

  2. Still got temasek & gic.

    Mas & temasek net assets are reported but they keep gic secret.

    They've also reported on the long term investment returns of all 3.

    Gic contains at least most of cpf & revenue surpluses. All of which have been invested & compounded over the last few decades.

    1. Agree and already took that into consideration. Those are the returns per year already mentioned in above charts and it is S$80B (only 50%) from year 2000 to 2015. Meaning the returns taking into consideration is S$160B. For GIC and Temasek to gets returns (in dividends or sale of assets) S$160B for 15 years is also quite substantial on average.

      Some of the returns were also used.

      In accounting terms, net assets are not reserve, but more how much you are worth or called equity. So it is different.

      So using this metric, only calculated reserve as S$200B. But if like what you said, there can be more (we do not know) from CPF also etc (which is used by GIC), hence S$400B, which is another S$200B can be upper ceiling as reflected in our MAS website. So it is logical.

      I agree that most of us think we Singapore is very rich. And frankly $200-400B is already very rich for our short history.

  3. it is the President's job to look after the national reserve. And the President needs to know how much reserve there are in the first place. Only one man tried to find out about our reserve so far. That's the late Mr Ong Teng Cheong

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