Singapore global investment firm withdrew shares from UBS at a loss

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Singapore global investment firm GIC Pte Ltd, which supported UBS during the recent global financial crisis by buying shares, and has reported losses after investing and has consequently reduced its stake, perhaps due to changes in the lender’s structural strategies. GIC made the UBS sale in spite of the loss as regulations have been reformed profoundly since the initial GIC investment back in 2008; Chief Executive of GIC, said in a statement.