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Glossary of Important Financial Terms

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Term Definition
Gearing

The ratio of a company’s borrowings to its assets

Government Linked Company (GLC)

A GLC is often used in the Singapore context to refer to Singapore-based companies which are directly or indirectly, fully or partially owned by the Government of Singapore. These companies may be subsidiaries or associates of Temasek Holdings, ministries, statutory boards or other GLCs. A Temasek Linked Company (TLC) is a more narrow group of GLCs which are owned by Temasek Holdings.

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