Tag Archives: TEMASEK

Temasek’s General Counsel, Pek Siok Lan, was cheated of S$5.5 million in a fraudulent nickel trading scam. What happened, was that the scammer, Ng Yu Zhi, promised his investors a guaranteed return of 15% over a three-month period. One look and you can tell this is a crazy amount, given …

The funding comes from Temasek and costs $3.38 million. See how they are using our money to make themselves look good? They will look like kind Samaritans while other schools will look bad.

What we need now is an office of the Ombudsman ! For those less politically adept, an ombudsman refers to an official appointed to investigate individuals' complaints against a company or organization, especially a public authority. This position is to monitor government officials and other people of interest to the state when a complaint from regular citizens is lodged. This is placed to ensure that no one, regardless of power is beyond the rule of law.

Empress Dowager Ho Ching has taken a side on the Ivan Lim issue. Yesterday, she shared a post on her Facebook comparing PAP new candidate Ivan Lim with Kee Chiu and Kate Spade who used to be mocked by people, implying that Ivan Lim can soon prove the people wrong. By sharing this post, Madam Ho has shown that she cannot differentiate between mocking and testimonies of serious character issues from people who have crossed path with Ivan Lim.

On 19 April 2020 the POFMA office said "several online posts" had made false statements that Temasek Holdings Chief Executive Ho Ching had an annual salary of "around S$100 million". Minister of Finance Heng Swee Keat instructed four correction directions to be issued. One of those four include People's Voice Party (PVP) chief Lim Tean for “sharing the falsehood on his Facebook page”. Politician Lim Tean has shared that he will be challenging this latest POFMA. He questions the basis of using POFMA over an article when the truth or real information is not revealed. His view is that POFMA is being used to silence PAP critics and free speech.

PM Lee's estranged brother, and currently the most favourite of the Lee families amongst many Singaporeans, Lee Hsien Yang, has asked the question that many Singaporeans had wanted to know for a long time - why is Ho Ching's salary declared a State Secret?

Deputy Prime Minister Heng Swee Keat, in a reply to a Swedish journalist who pressed him on how Singapore prevents nepotism associated with a one-party government, have strongly rebutted claims that nepotism exists, and cited the examples of Temasek and GIC.

Wong said that the “Government maintains an arms-length relationship with the companies and does not interfere in their operational decisions such as remuneration.” When they themselves are the Board of Directors in said company, how is it then possible not to interfere in the operation decisions such as remuneration?

In this connection, GIC’s latest 20 years’ and Temasek’s “from inception” annualised returns are 5.1 per cent (in US$ terms – lower if in S$ terms) and 16 per cent (in S$ terms), respectively. The highest return ever publicly disclosed by the GIC was 8.2 per cent (in S$ terms) for the 25 years from the GIC’s inception in 1981 till 2006. So, how many fund managers in Singapore have been able to consistently give 12 per cent per annum returns, as described in the advertisement?

Temasek Holdings has increased its net portfolio value from $242 billion (US$180 billion) to $275 billion (US$197 billion). This means Temasek's Total Shareholder Return is 13.4% this year, a bounce upwards from a 9% decline from a dismal performance last year.