SINGAPORE - PM Lee noted that his siblings had made allegations of nepotism concerning his wife, Ho Ching, and son, Hongyi. They also claimed that he wanted 38, Oxley Road kept standing in order to inherit their father's credibility and bolster his standing.
This was among three main allegations of abuse of power made by his siblings, Mr Lee Hsien Yang and Dr Lee Wei Ling, since their first statement on June 14, which PM Lee addressed in a ministerial statement to Parliament on Monday (July 3).
The other two were to do with the setting up of the ministerial committee on 38, Oxley Road, and the deed of gift for items from the house that were to be displayed in an exhibition by the National Heritage Board.
Rebutting these claims, PM Lee said his son, Hongyi, has publicly said he is not interested in politics. "Nor have I pushed him to enter politics," he said.
"My wife, Ho Ching, is CEO of Temasek Holdings. As CEO, she reports to the Board, chaired by Mr Lim Boon Heng. As a company, Temasek Holdings answers to its shareholder, the Ministry of Finance, under Minister Heng Swee Keat," he added.
"I have every confidence that both Mr Lim Boon Heng and Minister Heng Swee Keat understand the meaning of good, proper, corporate governance."
"It is the Temasek Board which appoints the CEO, and the appointment has to be confirmed by the President who is advised by the Council of Presidential Advisors. If Ho Ching ever behaves improperly, I have no doubt that the Temasek Board, the President and the CPA know what their duty is."
He continued: "Regarding the house, and how its continued existence enhances my aura as Prime Minister, if I needed such magic properties to bolster my standing even after being your PM for 13 years, I must be in a pretty sad state. And if Singaporeans believed such magic work in Singapore, Singapore must be in an even sadder state."