Serious Temasek Staff Kenna Cut Salary for FTX Debacle!

[Pinkieslut]

Temasek cuts employee compensation after failed FTX investment​

TEMASEK Holdings said it reduced compensation for senior management and the investment team responsible for investing in FTX.

The state-owned investor said that while it found no misconduct by its investment team, it and senior management took “collective accountability” and had their compensation lowered.

An internal review showed that “there was fraudulent conduct intentionally hidden from investors, including Temasek,” Chairman Lim Boon Heng said in a statement on Monday following an internal review. “We are disappointed with the outcome of our investment, and the negative impact on our reputation.”

Temasek wrote down its US$275 million investment in FTX last year after the crypto company’s meltdown. At the time, the investor said it conducted an “extensive due diligence process” on FTX and reviewed the company’s audited financial statement, which showed it to be profitable. BLOOMBERG

 

[red amoeba]

So sad. Have to put off that condo purchase for another 3 months.

 

[SBFNews]

Ownself say oneself song. KNN. Fuck PAP

 

[Sinkie]

Keep it up

 

[Charlie99]

Temasek Holdings should disclose the annual compensation for all its senior executives, for the past 20 years.
For their poor performance, they should not be paid any bonus, and no annual raises.

 

[cocobobo]

Where got cut salary? It's cut compensation.

It means instead of 12 months bonus, it's going to be 10.5 months. Salary untouched.

 

[Charlie99]

I speculate that Temasek Holdings is probably paying some lady about $10 million a year.

 

[batman1]

Where got cut salary? It's cut compensation.

It means instead of 12 months bonus, it's going to be 10.5 months. Salary untouched.

They should be retrenched.

 

[syed putra]

Where got cut salary? It's cut compensation.

It means instead of 12 months bonus, it's going to be 10.5 months. Salary untouched.

The figures showed great prospects. Temasick should go after the auditors and financial advisors.

 

[mahjongking]

what a paycut, from $1 million to $999,999..... temasek is too harsh on its employees

 

[ODACHEK]

 

[millim6868]

Should sack, but all in families, should be ka ki lang,lol, sg is really gone with these bunch if idiots, lost money bo tai chi , earn money get big bonuses

 

[batman1]

Should sack, but all in families, should be ka ki lang,lol, sg is really gone with these bunch if idiots, lost money bo tai chi , earn money get big bonuses

a la SIA.

 

[Loofydralb]

Temasek cuts employee compensation after failed FTX investment​

TEMASEK Holdings said it reduced compensation for senior management and the investment team responsible for investing in FTX.

The state-owned investor said that while it found no misconduct by its investment team, it and senior management took “collective accountability” and had their compensation lowered.

An internal review showed that “there was fraudulent conduct intentionally hidden from investors, including Temasek,” Chairman Lim Boon Heng said in a statement on Monday following an internal review. “We are disappointed with the outcome of our investment, and the negative impact on our reputation.”

Temasek wrote down its US$275 million investment in FTX last year after the crypto company’s meltdown. At the time, the investor said it conducted an “extensive due diligence process” on FTX and reviewed the company’s audited financial statement, which showed it to be profitable. BLOOMBERG

Too many red flags.

An internal review showed that “there was fraudulent conduct intentionally hidden from investors, including Temasek,” Chairman Lim Boon Heng said

Then there are grounds to sue the auditors, no?

the investor said it conducted an “extensive due diligence process” on FTX and reviewed the company’s audited financial statement, which showed it to be profitable.

PAP getting corrupt.

 

[congo9]

Reduce compensation only.
Salary is untouched
Maybe people take home 6 month bonus. But for you , you maybe take home 3 month bonus despite you performing.

 

[laksaboy]

Time will tell if it was merely just another 'honest mistake'.

 

[Patriotmissile]

This time so wayang?! Never see them do this since ABC learning.