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Trouble for the Switzerland of the Orient
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Trouble for the Switzerland of the Orient

Our Correspondent
Mar 06, 2009
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Trouble for the Switzerland of the Orient
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The ironies of Singapore's massive investment in troubled Swiss banking giant UBS are piling up. Even Lee Kuan Yew himself has now said that the Government Investment Corporation invested "too early" in UBS, with the result that is now showing a loss of billions of dollars of citizens' money on the deal.

GIC put 11 billion Swiss Francs (approx US$10 bill…

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