<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>So what is it? A money laundering machine for the Familee???
Published April 2, 2010
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Letter to the editor
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Seatown not a hedge fund or fund manager
We thank Professor Bernard Lee for his interest in Temasek and Seatown in his article titled 'Temasek's Seatown: a fund within a fund' (BT, March 31). There are some basic inaccuracies that we would like to correct.
First, Temasek is an investment company managed on commercial principles to create and deliver sustainable long-term value for our stakeholders. While wholly-owned by Singapore's Ministry of Finance, the government does not direct or get involved in our investment and business decisions.
We own and manage our assets, and are not a fund manager or hedge fund. We also do not manage the foreign exchange reserves of Singapore, or the pension funds of Singaporeans. :oIo::oIo::oIo:
Second, Seatown has been set up by Temasek as an independent investment company with a global investment mandate. Seatown is not a fund manager or hedge fund.
We trust that this helps to provide clarity to the function and mandate of both Temasek and Seatown.
Published April 2, 2010
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Letter to the editor
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Seatown not a hedge fund or fund manager
We thank Professor Bernard Lee for his interest in Temasek and Seatown in his article titled 'Temasek's Seatown: a fund within a fund' (BT, March 31). There are some basic inaccuracies that we would like to correct.
First, Temasek is an investment company managed on commercial principles to create and deliver sustainable long-term value for our stakeholders. While wholly-owned by Singapore's Ministry of Finance, the government does not direct or get involved in our investment and business decisions.
We own and manage our assets, and are not a fund manager or hedge fund. We also do not manage the foreign exchange reserves of Singapore, or the pension funds of Singaporeans. :oIo::oIo::oIo:
Second, Seatown has been set up by Temasek as an independent investment company with a global investment mandate. Seatown is not a fund manager or hedge fund.
We trust that this helps to provide clarity to the function and mandate of both Temasek and Seatown.
Myrna Thomas (Ms)
Managing Director
Corporate Affairs
Temasek Holdings
</TD></TR></TBODY></TABLE>Managing Director
Corporate Affairs
Temasek Holdings
