How Singapore Manages its Massive Wealth

Singapore has one of the world's largest foreign reserves.
Narrated by Tom McKay
Video Edited by Iyanbriandi
Inquiries: [e-mail]
Brought to you by the Behind Asian Team.

[@BehindAsia]

Did you know about Singapore's foreign reserves before watching the video?

[@Booz2020]

Indoenshians: Free Palestine, Trade With 🇨🇳, URra 🇷🇺, Stop Using🇺🇸 💵 and Singapore💰 Also Indoenshians: Please Guys, Move To BALI 😆😁

[@samchan3240]

Singapore reserves stand at 2.2 trillion SGD

[@MSDGroup-ez6zk]

I saw Singapore FDI from Singapore statistic body. The USA sent money through financial institutions and Singapore sent money to other tax heaven countries like Caymen Island before the USA took back its USD. So how can the USA ally not rich?

[@holdthel1n331]

Singapore government did a very good job during COVID. Well done

[@Booz2020]

Indoenshians: Free Palestine, Stop Using Singapore 💰, Temasek has a stake in our Telekom 🤯 Also Indoenshians: Please Guys, Move To BALI 😆😁

[@NewmaticKe]

​@@Booz2020stop smoking that stuff

[@Booz2020]

@@NewmaticKe How bout you Stop saying that kind of stuff to me ❓I'm exercising Freedom of Speech 🇺🇸and telling the TRUTH 💯

[@samaguinaldo8556]

I'm Filipino and we all know the Vietnamese and Malaysians were the most successful in controlling the pandemic. The Philippines and Indonesia was the worst! Singapore had a tough time controlling the pandemic too, but not as bad as the Philippines and Indonesia.

[@freddiemercury2075]

Good government makes all the difference. Well done PAP ! Please continue to keep up the good work. This isn't a game of cards, this your survival, and mine.

[@samchan3240]

Singapore reserves stand at 2.2 trillion SGD

[@Keyonvu2609]

Imagining this amount of money was in hand of Vietnamese governor, it would be down to 0 after 1 year.

[@nytrowgen2889]

Very informational!! As someone who studies economics This is literally the most layman way you could ever explain economy for people who don't study/learn it!

[@chinkit7]

Singaporean are always complaining as though they are flying in a ballon.

[@thulomanchay]

That is called oikophobia. Every country has them, no matter how good that country is.

[@doggysolution3489]

correct and they always look so stress. Malaysian boleh.

[@hiroyukishinichi9873]

😍🤩🤗❤

[@aeri878]

Hey Tom, based on your previous video, is it true that Singapore is in debt? And so, countries like Philippines, Malaysia, Thailand, Vietnam, Mynmar, Indonesia and all the South East Asian countries, are they not in debt? Please do videos on all and be thorough and factual. Thank you

[@_Urahara_Kisuke_]

Debt and reserves are two separate matters. For example if I run a transport business, I will have debts in the form of truck purchases or rentals, office and warehouse rentals, operation expenses, business loans to expand my business, creditors etc. But that doesn't mean I don't have "reserve funds" in savings and investments in various instruments. SG uses debts to fund its infrastructure growth and expansion without touching their reserves as much as possible.

[@Ash-vt7uu]

yo hong kong is also a financial hub(probably) and it does have a sovergien welath fund

[@Ash-vt7uu]

a video about that?

[@Ash-vt7uu]

a vid on that perhapse?

[@LiemThyeGwan]

I hope some Singaporean Investors could hold in Revitaliation , Renovation the OEWA ASIA LOSMEN on Kol Soegiono Str , Semarang , Central Java , Indonesia. Also HOTEL SINGAPORE in Imam Bonjol Str , Semarang , Central Java , Indonesia. [ It isn't so far from KOTA LAMA ] Thank You wit 23:20 pm Semarang town

[@Booz2020]

Indoenshians: Free Palestine, Trade With 🇨🇳, URra 🇷🇺, Stop Using🇺🇸 💵 Also Indoenshians: Please Guys, Move To BALI 😆😁

[@Buttercookies0]

@@Booz2020 50 cts

[@Booz2020]

@@Buttercookies0 50cents

[@jimmylee1776]

I have a question, how does the government control & audit the movements of reserves held by MAS, GIC & Tamasek? How does the government ensure that fraud does not occur - for example funds being syphoned out for private use or by politicians??

[@Hopyoprop]

Well like every normal organisation financial system. It’s subjected to external auditors from your independent auditing companies like EY, KPMG, etc.

[@kelvin.008]

And can't even reveal the salaries of CEOs?

[@ngsoonheng9483]

​@@kelvin.008Kelvin, you be the CEO lah or carry the CEO balls and maybe you will know how much.

[@flaviomulatojerkin]

While other countries in Asia are doing nothing at all and are on tit for tat with China and the USA, Singapore is doing their job well 👏

[@jimmylee1776]

As an ex-Singaporean, now living in Australia, I have a question: If the government is so rich, why is the government not providing pensions to retired low income earners? When I visit Singapore’s food courts & markets, I see many old people (over 60 years old) working. They collect dirty dishes left by customers. The Singapore government should provide age pension for these people. During their working days they paid taxes. Now they are old the government needs to support them. In Australia, we have an Age Pension for people with low income & assets. It’s means tested. A person may receive whole or part pension depending on their assets. A person’s residential home is not included in the assets for the means test. The government must look after the old people who are struggling to survive.

[@alexlim4508]

There are pros and cons in policies. There are countries criticising sg people who are too dependent on the government for support and now you are saying not enough support for the elderly. Well, I think only the locals can comment and complain since we are the one going through it. You make the necessary comparison and make your moves and all the best to you. Let those who stay behind work out our future with the present government. Remember we are still a democratic society. Thank you

[@samchan3240]

Low income for every 3 months government provide $900 for seniors payout, I get every 3 months, I'm 67 years old, my CPF payout $600 for every months

[@Booz2020]

Where in Aussie🦘🌏 ❓ Just curious though

[@NewmaticKe]

​@@alexlim4508Australia's government has been in deficit since 2007-08, when payments exceeded receipts. The cash balance, which is the difference between receipts and payments in the budget, is a key indicator of this. As of January 31, 2023, the underlying cash balance for the 2022-23 financial year was a deficit of $28.4 billion, while the fiscal balance was a deficit of $20.5 billion. The budget estimated that the underlying cash balance would remain in deficit throughout the decade, reaching $36.9 billion in 2022-23. These deficits have led to a steady increase in the Australian government's debt, which is expected to continue rising

[@radioteletype]

Not all old people who work at hawker centres are poor. Many choose to continue to work to kill time and be useful la. Just like what you see in Japan.

[@yametekudasai5960]

Ahahhaaha! Early in the mlrning this day in twitterverse every thai,indo,filipino,malaysian and vietnam roasting,shading and hating on singapore 😂 I think behind asia is updated 😆

[@gavinhcc]

Singapore External Debt is at $2.6 trillion. Singapore Debt to GDP is at 166%, third highest in the world. Minus the reserves, Singapore in still very much in debt.

[@andytan1003]

You got yourself exposed for not understanding economics Go read up their balance sheet, Singapore has no debt

[@gavinhcc]

@@andytan1003 LOL, go read World Bank , IMF and other independent financial reports ending 2023. Don't just trust the half story told by Spore government.

[@samchan3240]

​@@gavinhccyou very stupid

[@NewmaticKe]

Obviously, you're not an economist

[@kevina2907]

Another "expert" who cant even understand Singapore's debt. 😂

[@kelvin.008]

And yet education is not free!

[@Guyontheinternet_]

It is pretty much free though for mandatory education. I think my mum payed like $5 per month for my primary school education and like $15 per month for my secondary school education. If you are poor you get very high subsidies for Poly and University. After the money government gave me my Poly tuition fee is like a few hundred for 1 sem which is half a year.

[@kelvin.008]

@@Guyontheinternet_ poly and uni costs tens of thousands.. make it free, especially when they are offering scholarships to foreigners.

[@Guyontheinternet_]

@@kelvin.008 Lmao why make it free? First they are not mandatory, 2nd providing free education increases the money needed to be spent on education, are you willing to pay more taxes or receive fewer subsidise in other part likes housing? Allocating a reasonable amount of cost of study to Uni students, who will become high earners, allow the market to adjust itself, and reduces the burden on the government which in turn reduces the burden on tax payers. Singapore citizens and PR are already getting heavy subsidise for Uni and Poly, and even more if you are poor like me. I have no idea how much foreigners who are on scholarships are paying, but they definitely get heavy subsidise as compared to normal foreigners. As for foreigners, singapore government should always prioritise its citizens and not foreigners.

[@kelvin.008]

@Guyontheinternet_ Citizens are our only asset. The money spent by the government will reap returns for the nation. We are not asking for anything else. Anf the reality is, we have enough money to provide free education for citizens. That's indisputable.

[@Guyontheinternet_]

@@kelvin.008 Btw for poly it is around 3k a year so 9k for the whole duration, which is pretty reasonable, and if your family is poor you get more subsidise, after my extra subsidise I pay like almost 1k to 1.5k a year. Uni students around 9k per year so around 28k for 3 year course and 36k for 4 year course, which is reasonable for the extra starting pay and future growth in pay you gonna get for the degree. If you are poor you get extra subsidise. Sounds reasonable to me with the amount of tax the government demand from us. We have one of the lowest tax in the world btw.

[@samaguinaldo8556]

Enough of the propaganda. We all know this channel was created for Filipino propaganda with paid cybertroppers.

[@crcmx8388]

Please elaborate.

[@Kelberi]

It is unfortunate that George Soros did not short Singapore's currency during the Asia Financial Crisis.

[@alvincwchin]

Unfortunate? Soros wasn’t stupid to do so!

[@NewmaticKe]

He can't, he didnt know how big the war chest was

[@kevina2907]

Probably Soros will get a back slash if he do so.

[@christianhegemann1911]

Money laundring of black and money of criminal activities.....

[@johnreton696]

Chinese money funding singapore growth now

[@solaris5655]

recent case of 10 chinese-born money laundering gang, Singapore will confiscate $3billion into government coffers. easy money, originally from mainland chinese gamblers on illegal online gambling sites hosted in philippines. thanks to china.