Ng Kok Song explains why Singapore’s reserves have to be kept secret - Singapore News

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On the need for secrecy regarding Singapore’s reserves, he said: “It is a very strange thing that when you’re confronting a hostile force, an enemy who wants to do damage to you, do you tell your enemy how much resources you have?'

“It is a very strange thing that when you’re confronting a hostile force, an enemy who wants to do damage to you, do you tell your enemy how much resources you have?

That is why we keep our resources a secret. Singaporeans say, ‘Why can’t you tell us how much reserves we have?’ Our reserves are our financial defence; they are part of our total defence for Singapore. We have our military defence. We have our social defence. We must have our financial defence. The more reserves we have, the more people will think twice or three times to undermine the stability of our currency.Mr Ng was with the Government of Singapore Investment Corporation for 42 years, serving as Group Chief Investment Officer from 2007 until his retirement in 2013.

 

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