IN THE past couple of years, Wong Kok Hoi, chairman and chief investment officer of APS Asset Management, has been quoted in the media frequently for his comments on the investment performance or strategies of the Government of Singapore Investment Corp (GIC) and Temasek Holdings.
THE phrase 'Catch-22', taken from the title of Joseph Heller's seminal work, has come to describe a double-bind scenario where one feels caught between the devil and the deep blue sea. It may also soon come to describe the situation for developers here with the recent announcement of new government measures aimed at cooling property market sentiment and avoiding a housing bubble, barely half a year after the introduction of initial measures.
