Here’s what Moody’s thinks about GIC and Temasek’s lower real returns

SINGAPORE (Aug 17): Singapore's two government-owned investment entities, GIC and Temasek Holdings have both reported lower investment returns in recent months, and both foresee a weaker and more volatile income moving forward.

Moody’s has no rating for GIC and has an “Aaa stable” rating for Temasek Holdings.

What impact would these lower returns have on the Singapore Government (Aaa stable)? Should investors be worried? Moody’s Investors Services’ analyst Anushka Shah clears up the confusion in a note on Wednesday.

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