On the need for more talent We learned the hard way that this is a global marketplace, and that we need top class players. When we started, we were competing in the Southeast Asian Games. Whether we like it or not, the big players have come in to join these Games, so like football teams, we have to look for good foreign strikers for our team. GIC has reached a certain competence level, and also we can now attract and afford to pay for some of the best.
Remuneration is performance based.
We have succeeded in recruiting good foreign managers but it is a continuing process. We want them in all age groups. On the competitiveness of Singapore companies We have been too inbred. Until recently our bank chairmen had old friends on their boards. No fresh outside inputs.