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Coffeeshop Chit Chat - HoJinx: Temasick Does NOT Belong to Spor</TD><TD id=msgunetc noWrap align=right>
Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>kojakbt22 <NOBR>
</NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>7:51 pm </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>makapa <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (12 of 15) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>20643.12 in reply to 20643.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>> Secondly, the editorial confused the role of the president of Singapore. Under the Singapore Constitution, the president has a critical role to safeguard the past reserves which have been accumulated prior to the current government's term of office in designated organizations such as Temasek. This reflects Singapore's philosophy of fiscal discipline in not spending beyond our means for each generation.
So, in other words, it's not ok for any elected Govt to touch the past reserves but it's ok for Temasek to keep losing them?
> The president's concurrence is also required for the appointment or removal of Temasek's CEO and board members, so that no government can remove these key officers at will. These constitutional powers of the president do not involve him in our operational or business decisions.
So what? He merely rubber stamps? And when he gives trouble to the current govt like our late President Ong Teng Cheong, you remove him? HAHAH!
> As a progressive and professionally disciplined institution, Temasek provides full disclosures on its special relationship with the president annually in its Temasek Review.
So how cum our President still continues to "concur" Ho Ching's appointment as CEO of Temasek when she kept running losses?
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<TABLE id=msgUN border=0 cellSpacing=3 cellPadding=0 width="100%"><TBODY><TR><TD id=msgUNsubj vAlign=top>
Coffeeshop Chit Chat - HoJinx: Temasick Does NOT Belong to Spor</TD><TD id=msgunetc noWrap align=right>
Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>makapa <NOBR></NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>1:49 pm </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 15) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>20643.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>So where does the Peesai govt's money cum from? 1 Familee? Or it's squeezed from Sporns? *PTUI*
Correcting Temasek Misperceptions
<HR style="BACKGROUND-COLOR: #989898; COLOR: #989898" SIZE=1><!-- / icon and title --><!-- message -->Correcting Temasek Misperceptions
We wish to correct some fundamental misperceptions in your Aug. 31 editorial "Temasek's Revised Charter."
First, Temasek is an investment company set up as an asset owner to seek returns by taking investment risks. While our sole shareholder is the Singapore government, we are not a "fund," and do not manage Singapore "citizens' earnings." It is factually wrong to imply that Singaporeans have no choice but to "keep their money with the fund."
Secondly, the editorial confused the role of the president of Singapore. Under the Singapore Constitution, the president has a critical role to safeguard the past reserves which have been accumulated prior to the current government's term of office in designated organizations such as Temasek. This reflects Singapore's philosophy of fiscal discipline in not spending beyond our means for each generation.
For Temasek, any excessive expenditure exceeding our current reserves would constitute a draw on our past reserves. This is why our chairman and CEO report the position of our reserves to the president every half year, and are required to seek his concurrence for any draw on our past reserves.
The president's concurrence is also required for the appointment or removal of Temasek's CEO and board members, so that no government can remove these key officers at will. These constitutional powers of the president do not involve him in our operational or business decisions.
As a progressive and professionally disciplined institution, Temasek provides full disclosures on its special relationship with the president annually in its Temasek Review.
Myrna Thomas
Managing Director, Corporate Affairs
Temasek Holdings (Private) Limited
Singapore
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So, in other words, it's not ok for any elected Govt to touch the past reserves but it's ok for Temasek to keep losing them?
> The president's concurrence is also required for the appointment or removal of Temasek's CEO and board members, so that no government can remove these key officers at will. These constitutional powers of the president do not involve him in our operational or business decisions.
So what? He merely rubber stamps? And when he gives trouble to the current govt like our late President Ong Teng Cheong, you remove him? HAHAH!
> As a progressive and professionally disciplined institution, Temasek provides full disclosures on its special relationship with the president annually in its Temasek Review.
So how cum our President still continues to "concur" Ho Ching's appointment as CEO of Temasek when she kept running losses?
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<HR style="BACKGROUND-COLOR: #989898; COLOR: #989898" SIZE=1><!-- / icon and title --><!-- message -->Correcting Temasek Misperceptions
We wish to correct some fundamental misperceptions in your Aug. 31 editorial "Temasek's Revised Charter."
First, Temasek is an investment company set up as an asset owner to seek returns by taking investment risks. While our sole shareholder is the Singapore government, we are not a "fund," and do not manage Singapore "citizens' earnings." It is factually wrong to imply that Singaporeans have no choice but to "keep their money with the fund."
Secondly, the editorial confused the role of the president of Singapore. Under the Singapore Constitution, the president has a critical role to safeguard the past reserves which have been accumulated prior to the current government's term of office in designated organizations such as Temasek. This reflects Singapore's philosophy of fiscal discipline in not spending beyond our means for each generation.
For Temasek, any excessive expenditure exceeding our current reserves would constitute a draw on our past reserves. This is why our chairman and CEO report the position of our reserves to the president every half year, and are required to seek his concurrence for any draw on our past reserves.
The president's concurrence is also required for the appointment or removal of Temasek's CEO and board members, so that no government can remove these key officers at will. These constitutional powers of the president do not involve him in our operational or business decisions.
As a progressive and professionally disciplined institution, Temasek provides full disclosures on its special relationship with the president annually in its Temasek Review.
Myrna Thomas
Managing Director, Corporate Affairs
Temasek Holdings (Private) Limited
Singapore
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