SINGAPORE: Michigan Governor Gretchen Whitmer met Prime Minister Lawrence Wong in Singapore on 1 September 2025, as part of her four-day official visit.
The Ministry of Foreign Affairs (MFA) said Wong underscored the longstanding and mutually beneficial partnership between Singapore and the United States at both federal and state levels.
Wong welcomed Michigan’s interest in strengthening economic cooperation with Singapore, particularly in technology and advanced manufacturing.
Shared priorities in trade and innovation
The leaders also discussed US trade policies, people-to-people ties, and ways to deepen cooperation in areas of mutual interest, MFA added.
In a Facebook post, Wong expressed personal pride as a University of Michigan alumnus.
He wrote that Singapore, as a small and open economy, depends on global partnerships to remain competitive.
He noted that the US is Singapore’s largest foreign investor, top trading partner in services, and third-largest in goods.
“Our cooperation at both federal and state levels reinforces Singapore’s position as a trusted global hub,” Wong stated, adding that such collaboration would bring benefits to citizens in both countries.
Engagements with Singapore ministers and agencies
On the same day, Whitmer met Foreign Minister Vivian Balakrishnan.
MFA said the discussion focused on how cooperation between Singapore and Michigan could reinforce the broader Singapore–US relationship.
Whitmer also engaged with the Economic Development Board, Enterprise Singapore, and Singapore companies already active in Michigan. A roundtable session centred on innovation, entrepreneurship, and investment opportunities.
In addition, she attended a reception for University of Michigan alumni in Singapore, further underscoring the people-to-people ties highlighted by Wong.
Whitmer’s visit runs from 30 August to 2 September and includes representatives from the Michigan state government as well as the economic development, entrepreneurial, and innovation sectors.
Her itinerary reflects an emphasis on building linkages in advanced industries and exploring new investment opportunities across technology and supply chains.
Land ownership questions emerge in US media
The timing of Whitmer’s visit comes two months after a report by Bridge Michigan in early July alleged that Singapore’s sovereign wealth fund, GIC, owns more than 540,000 acres of land in Michigan’s Upper Peninsula.
According to the outlet, the land amounts to over five per cent of the region and includes one-sixth of Gogebic County, which borders Wisconsin.
The report said these holdings were uncovered only after filings made by The Rohatyn Group, the firm managing the land, revealed GIC as the ultimate shareholder through a multi-layered corporate structure.
Intricate corporate structure
Bridge Michigan described the structure as involving five Michigan-based limited liability companies, firms registered in Delaware, two Cayman Islands entities, and Singapore-based companies.
Large-scale purchases and early gains
At the top of the chain, GIC (Ventures) Pte Ltd appeared as the sole shareholder.
Further research by TOC found that two key Singapore entities—Lorax Investment Pte Ltd and Gaiax Investment Pte Ltd—play central roles in the structure.
Business profiles from Singapore’s Accounting and Corporate Regulatory Authority (ACRA) show that both Lorax Investment and Gaiax Investment share the same business address at Capital Tower in Singapore.
Bridge Michigan reported that GIC acquired parcels between 2021 and 2022, spending more than US$450 million.
One major purchase involved Keweenaw Land Association in 2021 through an all-cash deal, though mineral rights were retained by the seller.
In May 2022, Verdant Timber Cub LLC—linked to GIC—sold 39 acres for US$2.4 million, having purchased them for just US$37,500, signalling substantial early returns.
GIC CEO declined to comment
On 25 July, Lim Chow Kiat, Chief Executive Officer of GIC, declined to comment when asked by The Straits Times about concerns raised in Michigan.
He reiterated the fund’s policy of not discussing specific investments, but said GIC ensures all holdings comply with legal and regulatory frameworks.
“We adopt practices that are consistent with the market,” Lim said.
He did not confirm or deny ownership of the Michigan land and did not address questions about the holding structure.
Earlier, GIC did not respond to requests for comment from both Bridge Michigan and TOC.
GIC’s portfolio exposure to the Americas surges to 49%
GIC’s annual report stated that the fund achieved a real rate of return of 3.8 per cent per annum for the 20 years to 31 March, 2025.
This was marginally lower by 0.1 percentage point compared with the previous year.
This figure, adjusted for inflation, is calculated over and above global inflation rates for the same 20-year period.
Without adjusting for inflation, GIC’s annualised return stood at 5.7 per cent.
As at 31 March, 2025, GIC’s portfolio exposure to the Americas—covering North and Latin America—increased from 44 per cent to 49 per cent over 12 months.
Lim said this rise was driven by appreciation of existing assets in the region and additional capital being deployed, particularly to the United States, which remains GIC’s largest investment market.
GIC is chaired by former prime minister Lee Hsien Loong, with current PM Wong serving as deputy chairman.
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