Myth 160 - Explaining away a myth
Explaining away a myth Temasek is in London to explain away the myth. What myth? That it is a 100% govt owned fund or that it is going to buy up other countries' national assets? There is this New Zealander by the name of Simon Israel, probably an employee of Temasek, probably a New Zealander, wondering how the Israel part comes in, saying that 'The idea that Temasek is an instrument of the Singaporean Govt could not be further from the truth.' 'All investment decisions have been made by Temasek's board, Mr Israel maintained. The Govt receives a 7 percent dividend, and gets an annual update on performance - and that is it, he said.' So Temasek is a separate entity, nothing to do with the Govt. Period. Or we can borrow the style of our northern neighbour by saying, 'Temasek is neither a Govt owned or non Govt owned organisation.'