Don’t Believe Everything You Read

These were the headlines on Friday, May 29:

From The Straits Times:

S$114b gain in the five years before fall
S$56b gain despite losses during global crisis
Temasek beats returns of many big funds

From The Business Times:

Temasek’s 6-year report card shows S$56b gain
This is in spite of last year’s setback that wiped out half the gains of 5 preceding years in just 8 months

From TODAY:

Government debunks “losing path” theory
15-per-cent annual returns and net gain of S$56 billion over six years: Tharman

From The International Herald Tribune:

Singapore finance minister defends performance of fund

From The Wall Street Journal:

Temasek portfolio lost US$39.91 billion in 8 months

On Saturday, May 30, in an article entitled “Why we covered AWARE saga the way we did” Straits Times editor Han Fook Kwang wrote “our job is to report accurately and fairly what is happening and to make sense of it for our readers so they can draw their own conclusions.”

Thank you very much for the reminder Mr Han but I have long drawn my own conclusions about papers in Singapore.

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