SINGAPORE (July 23): Temasek Holdings and GIC have released their annual reports in the past week, so it is a good time to take a step back and think about how they have been doing. One issue is, of course, their financial performance, which continues to be good and well ahead of their respective mandates. But there is an overarching issue that is more important and deserves a deep review — is the overall management of our national assets structured optimally?

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