Given publicly available economic data on Singaporean finances, there is an expected asset gap of more than $800 billion SGD unaccounted for from historical surpluses and financing operations when factoring in claimed interest.
To my knowledge, these claims of his have received no coverage by the state-controlled media in Singapore. And I can find no serious, in-depth discussion anywhere of the merits and flaws of Balding's claims. So are his claims correct?
Note that S$800b is about 200% of Singapore's annual GDP. In comparison, 200% of US GDP would be US$36 trillion.