Investment Mandates for GIC and Temasek Holdings Given Amount of Unquoted Investments Exceeding Quoted Investments

Mr Leong Mun Wai asked the Prime Minister and Minister for Finance whether he will tighten the investment mandates given to the Government of Singapore Investment Corporation and Temasek Holdings, given that the amount of unquoted investments has exceeded the quoted investments as reported in the Statement of Assets and Liabilities as at 31 March 2023 contained in the Government Financial Statements for FY2022/2023.

Based on the Statement of Assets and Liabilities as at 31 March 2023, total quoted investments are higher than that of total unquoted investments, contrary to what was stated in the question. This is because total quoted investments include not just the line “Other Investments – Quoted”, but also “Government Stocks”. I thank Mr Leong for the opportunity to clarify this point.