In earlier Singapore financial news, GIC has stated that their investment structure provides “appropriate downside protection” which will see long term expected lower returns despite the risk. Interestingly it raises GIC’s holding in Citigroup to 4 per cent, and GIC has stated that it does not have plans for a board seat at Citi. This no doubt comes after criticism leveled at other American financial institutions’ moves to seek investment funds from Asian and Middle Eastern sources.

This could simply be a move by GIC to strengthen its investment portfolio and provide a broader management of investing Singapore’s reserves. With the threat of 20,000 Citi jobs at risk, it might or might not have vested interest in ensuring that this does not have greater downstream impact to Singapore’s economy, which is enjoying satisfactory growth against the gloomy global economic outlook, as reported frequently in Singapore financial news. GIC has also sunk US$300 million with US property hedge Rosen Real Estate Securities to take advantage of falling values in the US property market and real estate.

Unfortunately, despite residents concern and some who have voiced it to the mainstream media, the authorities do not seem to take them to heart and continue to iterate the same reasons given – that the gantry will not be switched on unless traffic along the route fell between 20 – 30 km/hr. Given the number of people who have to use it anyway since ERP gantries were set up along the BKE, most expect the gantry to be used soon. Residents around this area now have to pay just to get out of their house to go to work in the morning.

There are some alternate routes to explore, but you would need to get up earlier to make up for the time required to make these extra turns. One way would be to enter Hillview and exit at the old firestation junction further up after the gantry, or to head straight for the junction at Beauty World and the PIE, also via Hillview. However, you can be sure that additional ERP gantries will be erected at these points in the near future as we endure more impractical attempts to curb growing traffic.