2023 Year 3 JIP World Readiness Programme Symposium

As part of our school’s World Readiness Programme (WRP), we were invited to attend the Year 3 WRP Symposium alongside our schoolmates, as well as students from other Joint Integrated Programme (JIP) schools. Held at Catholic High School, the symposium provided us with the invaluable opportunity to enhance our understanding of various aspects of the financial landscape, including the vital role of reserves and sovereign wealth funds in Singapore’s context.

To kick off the programme, the Vice principal of Catholic High, Mr Kelly Tan, gave his opening address, and introduced the guest speakers, who were Mr Terence Lee, Vice President of GIC (Government of Singapore Investment Corporation) and Ms Annie Wang, Associate at GIC.

First up was Mr Lee’s sharing about Singapore’s reserves. We learnt that our reserves also  matter  even  in  normal  times as they  have  implications  for  major economic developments in areas such as the flow of funds in the financial system, domestic interest  rates,  investor  confidence  and the  health  of  the  financial  system.  “It was definitely very interesting exploring an area many of us students would not consider,” mentioned Iva Soh from 3 Loyalty.

Next was Ms Wang’s sharing on GIC and wealth sovereign funds. We learnt that the GIC is one of 3 financial entities that manage the financial assets of the Government of Singapore and that a sovereign wealth fund is a state-owned investment fund which can be derived from a variety of sources and used for a variety of purposes. “I felt that the speakers were very clear in allowing us to understand the importance of investing and how the government also needs help from other parties like the GIC to deal with investments like the rainy-day funds, stability fund and endowment fund,” remarked Iva Soh from 3 Loyalty.

To understand and emphasise the importance of working together, we were tasked to play “Prisoner’s dilemma”. This was a game where we had two choices: to play nice or play nasty. There were several rounds, giving us opportunities to revise our strategy to win. This game has changed many of our attitudes towards pursuing self-interests, enabling us to recognise that cooperation leads to the best results. The insightful presentation then ended with a Q&A session. 

Attending the Year 3 WRP Symposium was an enlightening and enjoyable experience for us. We had the opportunity to learn from experts in various industries and clarify our doubts. We are grateful for the opportunity and look forward to applying the insights and skills we have gained in the future. These takeaways will help us make more informed decisions that will contribute to Singapore's economic success.

Jovi Tay, 3 Loyalty

Keisha Leong, 3 Unity

Lee Kicia, 3 Unity

2023