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26-09-2014, 07:04 AM
http://www.businesstimes.com.sg/premium/...e-20140926
PUBLISHED SEPTEMBER 26, 2014
HOCK LOCK SIEW
Never overlook Temasek's influence
BYKENNETH LIM
kenlim@sph.com.sg @KennethLimBT
PRESIDENT Tony Tan Keng Yam remarked in a speech this week that many Temasek-linked companies became industry champions "in their own right", and without undue help from Temasek or the Singapore government.
While the President correctly attributed those companies' successes chiefly to their own people, it may also be useful to bear in mind that Temasek's presence today is not without weight.
The fact is that having Temasek as a shareholder confers some cachet in the marketplace that can, in some instances, help to strike deals or to access capital. The strength of Temasek's influence today must be recognised, if only to ensure vigilance over whether that power is carefully and correctly used.
Speaking at Temasek's 40th anniversary dinner, Dr Tan noted the meritocratic sensibilities that guided the Singapore government-owned investment company's actions. Temasek was created partly to keep political influence from the government's commercial interests, and continues to observe values of commercial discipline and accountability, he explained. As a result, many Temasek portfolio companies became regional and global leaders.
PUBLISHED SEPTEMBER 26, 2014
HOCK LOCK SIEW
Never overlook Temasek's influence
BYKENNETH LIM
kenlim@sph.com.sg @KennethLimBT
PRESIDENT Tony Tan Keng Yam remarked in a speech this week that many Temasek-linked companies became industry champions "in their own right", and without undue help from Temasek or the Singapore government.
While the President correctly attributed those companies' successes chiefly to their own people, it may also be useful to bear in mind that Temasek's presence today is not without weight.
The fact is that having Temasek as a shareholder confers some cachet in the marketplace that can, in some instances, help to strike deals or to access capital. The strength of Temasek's influence today must be recognised, if only to ensure vigilance over whether that power is carefully and correctly used.
Speaking at Temasek's 40th anniversary dinner, Dr Tan noted the meritocratic sensibilities that guided the Singapore government-owned investment company's actions. Temasek was created partly to keep political influence from the government's commercial interests, and continues to observe values of commercial discipline and accountability, he explained. As a result, many Temasek portfolio companies became regional and global leaders.