This is an edited transcript of GIC CEO Lim Chow Kiat’s opening remarks at GIC Insights 2022 which took place on 15 November 2022 in Singapore.
Good afternoon, GIC Board Directors, honoured guests, ladies and gentlemen. A very warm welcome to GIC Insights. Thank you for joining us.
We organise this forum to share insights and show our appreciation. Most of you already collaborate very closely with GIC. For that, we thank you.
With that, let’s review the theme of the forum, “Navigating the Global Transition”. This afternoon, we look at three fundamental transitions: macro, digital, and sustainability.
For all these developments, GIC has more questions than answers. Geopolitics, for example, presents a complex set of issues. We think about it as comprising two parts: chronic and acute challenges.
- Chronic issues, such as gradual tit-for-tats, are quite difficult to deal with but manageable.
- Acute problems, including sudden military incidents like the war in Ukraine, are impossible to predict with confidence. For investors, this is made more challenging as we need to find the right investment instruments and transact at the right prices.
We may not even have the right questions. So, to help us, we have assembled a whole host of expert panellists and speakers. I thank them for their help.
We also want to get to solutions and actions. That’s why we partnered FCLTGlobal, a long-standing champion of long-term investing, which GIC has long been associated with, to bring their C-suite roundtable discussions here. You will have the opportunity – and task – to tackle the issue of “balancing resilience with agility”. After the discussions, we will develop a toolkit to help turn your insights into actions and improve our organisations for the future.
Let me now share my thoughts on the three transitions – macro, digital, and sustainability – and the key questions I hope we can tackle today.