The Temasek debacle and the failure of one-party rule

[temasekreview]

The abrupt departure of Temasek CEO-designate Chip Goodyear and the re-appointment of Ho Ching as taken many Singaporeans by surprise.

Though there were some rumblings of bewilderment and discontent on the ground, nobody dares to question the decision of the Temasek Board.

The Ministry of Finance, which was nominally in charge of Temasek, was quick to distance itself from the about-turn in the senior leadership.

So who is really in charge of Temasek Holdings? In a public-listed company, the Board of Directors and major shareholders will have a say in the appointment of the CEO, not in Temasek where the stakeholders were conspicuous by their silence.

Read rest of article here:

http://temasekreview.com/?p=11537

 

[hairylee]

Overseas critics and local opposition have been vocal on this for a long time but Old Fart just want to maintain status quo for his familee.