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Chairman, GIC, Minister Mentor Lee Kuan Yew and Mrs Lee,
Deputy Chairman, GIC, Prime Minister Lee Hsien Loong and Mrs Lee, Senior Minister Goh Chok Tong and Mrs Goh,
Ministers, Distinguished guests, Ladies and gentlemen,
Thank you for joining us to celebrate GIC's 25th Anniversary. It is my pleasure to welcome our current and former Board members, founding directors, officials from MAS and MOF, as well as present and former staff of GIC.
GIC has come a long way. Starting with a fund size of about S$10 billion and a few officers seconded from the MAS, GIC today manages more than US$100 billion of assets, and GIC has over 800 staff worldwide. GIC invests in over 40 countries around the world, and GIC officers are exposed to a culture that is truly global.
Over the years, GIC's investment activities have increased in breadth and depth, growing from equities, fixed income and real estate to include today commodities, inflation-linked bonds, hedge funds and private equity investments. Today GIC ranks amongst the largest fund management companies in the world, and GIC is a much sought-after business partner and investor.
One of GIC's key success factors is the quality of its Board of Directors. Chaired by Minister Mentor Lee Kuan Yew and including the Prime Minister, several Ministers and outstanding personalities from the private sector, the GIC Board of Directors sets the strategic direction and investment philosophy for GIC.
Capable and dedicated staff are the heart of any investment management organisation. In this respect, GIC has a team of professional, dedicated and capable officers. When GIC officers perform well in their jobs, not only are they rewarded financially, it also translates to better lives for Singaporeans. All present tonight, regardless of your nationality or role in GIC, play an integral part in shaping the success of GIC.
Ladies and Gentlemen, I have great pleasure to invite Chairman, Minister Mentor Lee Kuan Yew to address us. Thank you.
Chairman, please.
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