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Ministry of Finance (MOF)
Parliamentary Replies

Statement of Assets and Liabilities in Government Financial Statements for FY2021/2022

Topics

Budget

GIC & Temasek Holdings

13 September 2022

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Parliamentary Question by Ms Hazel Poa: 

To ask the Deputy Prime Minister and Minister for Finance (a) whether the total financial assets of $1.57 trillion in the Statement of Assets and Liabilities as per the Government Financial Statements for FY 2021/2022 include the latest reported increase in assets held by GIC and Temasek Holdings; and (b) if not, how much will those contribute to the increase in the total financial assets for FY 2022/2023.

Parliamentary Reply by Deputy Prime Minister, and Minister for Finance Mr Lawrence Wong:

The Statement of Assets and Liabilities (SAL) records the Government’s gross financial assets, comprising cash and investments, that are set aside in deposit accounts and funds that are established in accordance with the laws governing them. Government assets managed by GIC, as well as Government investments in Temasek, are recorded in the SAL, according to its basis of preparation.