Mr Lee Hsien Loong, Singapore’s Prime Minister and GIC Chairman,
Mr Tharman Shanmugaratnam, Singapore’s Senior Minister and GIC Deputy Chairman,
Dr Tony Tan, Former President of Singapore, and GIC Board Member and Special Advisor,
Board Members, Friends and Family of GIC.
On behalf of GIC, I deeply appreciate your presence tonight to celebrate this special milestone with us. Many of you have taken considerable efforts to travel from around the world to be here in Singapore. And, a big thank you to our many guests and staff watching online, for being part of our celebration. Truly, this is a special gathering of family and friends.
This celebration is only possible because of the work and sacrifices of many over more than 40 years. Let me take this opportunity to pay tributes to our Pioneers, People and Partners.
We recently launched a bestseller book called Bold Vision, beautifully written by Freddy Orchard, to commemorate our anniversary. It brings to life GIC’s founding and journey. It tells of the fervent conviction of our government and pioneers to master our own fate; to achieve financial security and sovereignty.
To our Pioneers - even though money was very tight in 1981, you chose to save and invest for the long term by starting GIC. You gave us the head start and time to compound investment returns on the reserves. Remarkably too, you were not daunted by the poor economic situation at the time, when the world was mired in stagflation difficulties and concerns.
Like a true long-term investor, you saw the opportunity in low asset prices instead. In doing so, you gave our generations of investors the guidepost and space for risk taking. Thank you for the bold vision and action!
Now, to our People, the GICians.
Having been with GIC for 28 years, I have had the privilege to work with many GICians, including many alumni who are in this ballroom tonight. Your skills and hard work, and more importantly your commitment to GIC’s purpose and values, have inspired me.
Every day, out of ten offices and thousands of homes, and on the roads all over the world, you go the extra miles to accomplish our mission.
Last but not least, to our Partners.
We thank you for your help. Many of you have been our partners for decades, even before I joined GIC.
You have added to our capabilities to deploy capital profitably, to run our organization efficiently, and to contribute to the community meaningfully. You have allowed us to focus on the job of long-term capital allocation and keeping our operations lean yet enjoying many streams of investment returns, positive impacts on many communities and a vast global network of capabilities and friendships. Thank you!
Please remember we love you too, even on occasions when we negotiate hard with you over deal terms. It is only to make you even better. [I’m sure you will say the same to us]
Ladies and Gentlemen, there is much to look back and be grateful for. There’s even more to look forward to.
And now, it gives me great pleasure to invite our Guest of Honour, Singapore’s Prime Minister and GIC Chairman, Mr Lee Hsien Loong to give his keynote address.