“No purpose” in holding election before 2011 – MM Lee

Latest: NUS student dies. (Straits Times)

Excerpts from the Straits Times, “GIC bought too early”:

In an interview with Reuters on Wednesday, he said the Government of Singapore Investment Corp (GIC) had bought ‘too early’ into global banks such as Citigroup and UBS , which were both hammered by toxic assets.

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He said there would be ‘no purpose’ in holding an election in Singapore before 2011, but the timing of a poll will depend on the health of the global economy.

Read the full report here.

Also: MM Lee warns Singapore’s GDP could shrink by 8% this year. (CNA)