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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Fund Profile/New Launches

Temasek Holdings is owned by Ministry of Finance and not Singaporeans

Posted on 16 February 2010

From Temasekreview.com: In a letter to the Straits Times Forum yesterday, Myrna Thomas, the Managing Director (Corporate Affairs) of Temasek Holdings reiterates that it is a commercial entity which is wholly owned by the Ministry of Finance (incorporated) in response to an earlier speech by U.S. political economist Prof Huang Yasheng who criticized the Singapore’s government involvement in the private sector.
Speaking at the Civil Service College, Prof Huang urged Singapore to “rethink” the “Temasek model” and warns that Singapore’s state management model has “milked this system for all it is worth.” … Full article: Source

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