Temasek finds a replacement for Goodyear!
Temasek Holdings, Singapore’s sovereign wealth fund, has found a replacement for Charles “Chip” Waterhouse Goodyear IV - it’s in the revision of its charter!
What Goodyear, or whoever that guy was, could not do, Temasek’s revision of its seven-year old charter will do.
Temasek will get its money out of Singapore as soon as possible, and invest in countries like the United States - folks who really need the money.
According to Temasek, its revised charter is one that “more accurately reflects its investment objectives and relationship with the Singapore Government.”
Sure it does, and let’s see how.
Temasek will morph into an investment company managed on “commercial principles,” something like U.S. bailout recipient, Goldman Sachs.
When Temasek was founded in 2002, its portfolio “was largely concentrated in Singapore,” said Temasek chairman S. Dhanabalan.
Dhanabalan
According to Dhanabalan, this was thanks to Temasek’s “yellow pages rule,” which suggested that Temasek divest itself of any investment that could be found in Singapore’s Yellow Pages.
Temasek’s “yellow pages rule” is something like throwing darts at a map to decide where to invest. With the help of the “yellow pages rule,” Temasek has succeeding in moving about two-thirds of its portfolio to countries outside of Singapore.
Mr. Dhanabalan has now stated Temasek’s new investment rule in one short and nonsensical sentence, “We invest and divest as and when we see value.’”
You divest when you see value?
Sounds kewl, man.
Another change being made is that the frequent ad hoc meetings between Temasek and Singapore Government will be replaced with “more structured once-a-year briefings.”
In other words, Singapore will not have many chances to see what Temasek is doing.
Of course, at family dinners, Ho Ching, Temasek’s CEO, can tell her father-in-law, Singapore’s leader, Lee Kuan Yew all about where the money is hidden going.
There is also a back-up plan.
Goodyear clone Simon Israel
Waiting in the wings to take over Temasek is another foreigner, Simon Israel, quietly appointed as Temasek’s Executive Director.
Simon Israel has an impressive background. He has 10 years of experience with the Danone Group (leading yogurt producer) as Chairman Asia Pacific and a 22-year career with Sara Lee Corporation (pre-baked cakes) across the Asia Pacific region.
With his experience with yogurt and cakes, Simon Israel is ready and qualified to lead Temasek.
He looks like a Goodyear type of guy - Temasek goes for that.
Now Singapore’s leader, Lee Kuan Yew, can say like Marie Antoinette, “Let them eat cake!”
Temasek Holdings, Singapore’s sovereign wealth fund, has found a replacement for Charles “Chip” Waterhouse Goodyear IV - it’s in the revision of its charter!
What Goodyear, or whoever that guy was, could not do, Temasek’s revision of its seven-year old charter will do.
Temasek will get its money out of Singapore as soon as possible, and invest in countries like the United States - folks who really need the money.
According to Temasek, its revised charter is one that “more accurately reflects its investment objectives and relationship with the Singapore Government.”
Sure it does, and let’s see how.
Temasek will morph into an investment company managed on “commercial principles,” something like U.S. bailout recipient, Goldman Sachs.
When Temasek was founded in 2002, its portfolio “was largely concentrated in Singapore,” said Temasek chairman S. Dhanabalan.
Dhanabalan
According to Dhanabalan, this was thanks to Temasek’s “yellow pages rule,” which suggested that Temasek divest itself of any investment that could be found in Singapore’s Yellow Pages.
Temasek’s “yellow pages rule” is something like throwing darts at a map to decide where to invest. With the help of the “yellow pages rule,” Temasek has succeeding in moving about two-thirds of its portfolio to countries outside of Singapore.
Mr. Dhanabalan has now stated Temasek’s new investment rule in one short and nonsensical sentence, “We invest and divest as and when we see value.’”
You divest when you see value?
Sounds kewl, man.
Another change being made is that the frequent ad hoc meetings between Temasek and Singapore Government will be replaced with “more structured once-a-year briefings.”
In other words, Singapore will not have many chances to see what Temasek is doing.
Of course, at family dinners, Ho Ching, Temasek’s CEO, can tell her father-in-law, Singapore’s leader, Lee Kuan Yew all about where the money is hidden going.
There is also a back-up plan.
Goodyear clone Simon Israel
Waiting in the wings to take over Temasek is another foreigner, Simon Israel, quietly appointed as Temasek’s Executive Director.
Simon Israel has an impressive background. He has 10 years of experience with the Danone Group (leading yogurt producer) as Chairman Asia Pacific and a 22-year career with Sara Lee Corporation (pre-baked cakes) across the Asia Pacific region.
With his experience with yogurt and cakes, Simon Israel is ready and qualified to lead Temasek.
He looks like a Goodyear type of guy - Temasek goes for that.
Now Singapore’s leader, Lee Kuan Yew, can say like Marie Antoinette, “Let them eat cake!”
