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Government does not direct Temasek's investment decisions: Temasek chairman

Published on Dec 5, 2013 11:03 AM
 
It is commonly believed that sovereign wealth funds often invest on behalf of governments for strategic reasons and as an instrument of foreign policy, but Temasek Holdings does not share the characteristics of most sovereign wealth funds, said its chairman Lim Boon Heng (in photo) in his first public speech as Temasek's chairman. -- FILE PHOTO: TEMASEK INTERNATIONAL PTE LTD

It is commonly believed that sovereign wealth funds often invest on behalf of governments for strategic reasons and as an instrument of foreign policy, but Temasek Holdings does not share the characteristics of most sovereign wealth funds, said its chairman Lim Boon Heng.

In his first public speech as Temasek's chairman, the former politician said the founding of Temasek was premised on a separation between the Government's role as a policymaker and as a shareholder.

The Singapore government is the sole shareholder in Temasek Holdings.

The Government is not consulted on Temasek's day-to-day business and does not direct its investment decisions, said Mr Lim, who was named Temasek chairman in August this year.

 
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