Government Investment CorporationGICSingapore Private Limited |
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| The Government Investment
Corporation (in short
GIC) in
Singapore is a Sovereign Wealth Fund established in 1981 to manage foreign
reserves of this state. The investments are managed by three subsidiaries
focused on the public markets (GIC Asset Management ), private-equity (GIC
Real Estate) and the remaining (GIC Special Investments).
The size of its portfolio is well above US$100 billion, making GIC the third largest among the world Sovereign Wealth Funds: the ranking in terms of asset places the Government Investment Corporation after the Abu Dhabi Investment Authority, and the Government Pension Fund, but before the Libyan Investment Authority and the State Administration of Foreign Exchange.
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The Singapore dollar has the ISO 4217 code SGD, it is conventionally divided into 100 cents, and it is abbreviated with the sign S$, to distinguish this currency from other dollars.
Singapore used the Straits dollar (the currency used in the British protectorates and colonies) between 1845 and 1939. This currency was then replaced by the Malayan dollar and the Malaya and British Borneo dollar from 1953. Following Singapore's independence from Malaysia in 1965, on April 7, 1967 Singapore issued its first Singapore dollar.
On October 1, 2002 the Monetary Authority of Singapore (MAS) was founded.
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