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Aug 25, 2009
TEMASEK'S NEW CHARTER
Not my money hor! I no regret one.
By Ignatius Low, Money Editor
Not my money leh!
TEMASEK Holdings may have received more flak from the public since becoming more transparent about its performance and operations, but it does not regret the move.
'We have no regrets because we are looking at this over the long term,' said Temasek CEO Ho Ching in an interview on Monday.
'I think from year to year there will be ups and downs but that is the nature of our business because we are concentrated in equity.
'We are not managing a balanced fund where we have a liquid portfolio. And the nature of our portfolio will mean that there is much more volatility than, let's say, a typical sovereign wealth fund (SWF).'
Ms Ho was commenting on the fact that Temasek releases more information about its performance and its portfolio of investments than the Government of Singapore Investment Corporation (GIC), other SWFs and many private equity funds.
It made the decision to go public with the release of its first Temasek Review annual report in 2004.
'We cannot be like private equity funds which are more murky with their dealings. We already start with the disadvantage of being government-owned,' added Temasek chairman S. Dhanabalan.
'These funds can do things which people don't question. Warren Buffett can do things very quietly and nobody questions his motives. We have to be different.'
Aug 25, 2009
TEMASEK'S NEW CHARTER
Not my money hor! I no regret one.
By Ignatius Low, Money Editor
Not my money leh!
TEMASEK Holdings may have received more flak from the public since becoming more transparent about its performance and operations, but it does not regret the move.
'We have no regrets because we are looking at this over the long term,' said Temasek CEO Ho Ching in an interview on Monday.
'I think from year to year there will be ups and downs but that is the nature of our business because we are concentrated in equity.
'We are not managing a balanced fund where we have a liquid portfolio. And the nature of our portfolio will mean that there is much more volatility than, let's say, a typical sovereign wealth fund (SWF).'
Ms Ho was commenting on the fact that Temasek releases more information about its performance and its portfolio of investments than the Government of Singapore Investment Corporation (GIC), other SWFs and many private equity funds.
It made the decision to go public with the release of its first Temasek Review annual report in 2004.
'We cannot be like private equity funds which are more murky with their dealings. We already start with the disadvantage of being government-owned,' added Temasek chairman S. Dhanabalan.
'These funds can do things which people don't question. Warren Buffett can do things very quietly and nobody questions his motives. We have to be different.'
