Why can’t the Australians understand?
‘Temasek is a tax-paying investment company which was incorporated in 1974. Our board and management make our investment, divestment and other company decisions on a commercial basis, independently of our shareholder, the Singapore government. The board comprises a majority of non-executive independent private-sector business leaders. A third of our staff, including senior management, are non-Singaporeans from 20 countries. Our CEO was appointed by the board with the independent concurrence of the President of Singapore.... Temasek plays no part in the governance, operations or investment decisions of the Singapore Exchange. Simon Israel, Executive Director and President, Temasek Holdings’ The above is quoted from The Australian. The relationship between the Singapore Govt and Temasek or between Temasek and the SGX is strictly business done with a ten foot pole apart. Temasek is independent of the Govt and the SGX is independent of Temasek. Is this so difficult to comprehend? Every Singaporean understands this logic and is very clear that they are all separate entities and operate independently with only making money as their main objectives. Why are the Australians trying to mix everything together as one rojak dish, that SGX is Temasek, and Temasek is the Singapore Govt? Singaporeans are very familiar with the Govt’s logic and way of explaining things and have no problem understanding the official logic. For foreigners, maybe it is a little different. They don’t think like us and they don’t want to understand our logic. They may think that we are weird or trying to hoodwink them. We shall forgive them for their unwillingness to see our point of view and their stubbornness to resist our takeover of the ASX. They did not know that we are doing it for their own good.