Sound governance framework is Dhana's main legacy: Tharman

Mr S. Dhanabalan (left) being presented with a picture mosiac made up of pictures of its staff by Temasek CEO Ho Ching at theTemasek 39th anniversary dinner at the Ritz Carlton on Tuesday, Aug 6, 2013. Prime Minister Lee Hsien Loong led the tributes
Mr S. Dhanabalan (left) being presented with a picture mosiac made up of pictures of its staff by Temasek CEO Ho Ching at theTemasek 39th anniversary dinner at the Ritz Carlton on Tuesday, Aug 6, 2013. Prime Minister Lee Hsien Loong led the tributes to newly retired Temasek Holdings chairman S Dhanabalan on Tuesday, saying Singapore has been fortunate to have had leaders like him who led with conviction and dedication. -- ST PHOTO: RAJ NADARAJAN
Former Temasek Holdings chairman S. Dhanabalan (above) leaves behind as his most important legacy a sound and effective system of governance at the investment agency, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Tuesday n
Former Temasek Holdings chairman S. Dhanabalan (above) leaves behind as his most important legacy a sound and effective system of governance at the investment agency, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Tuesday night. -- ST PHOTO: RAJ NADARAJAN

Former Temasek Holdings chairman S. Dhanabalan leaves behind as his most important legacy a sound and effective system of governance at the investment agency, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Tuesday night.

He said that this framework allows for the Temasek board to be accountable to the Government for its long-term performance, and also for clear ownership of responsibility by Temasek for its investment decisions.

"Together with the board and management, Dhana moulded an ownership mindset in Temasek - which above all means thinking long-term rather than focusing on short-term bets," Mr Tharman said, at Temasek's 39th anniversary dinner.