30 March, 2006

the temasek attachment

Oops! Singapore’s government investment arm Temasek accidently sent an e-mail to several reporters letting them in on executive talking points relating to its purchase of a stake in Standard Chartered.:

TemasekA Temasek document, entitled "2006-03 Taurus Q&As" - which was designed to help its executives answer media enquiries on its 12% stake in Standard Chartered - was yesterday sent as an email attachment to some journalists instead of another file. The document contains 59 questions and answers and was prepared by staff to anticipate questions that might arise from the acquisition. Given that Temasek has rarely done Q&As with the media, the exercise represents a somewhat unique insight into what the Singapore state investment agency currently perceives its perceptional issues are and its own stance on these issues. In what follows we have reproduced the entire Q&A section. It is unedited, except to state in square brackets where answers were left blank.

Full copy of the e-mail is here. Interestingly, talking point 33 provides a response to a question that will not be asked within Singapore.:

33. Your CEO is also the PM’s wife. The PM is also the Minister for Finance, heading MOF which is your shareholder. Is her appointment politically motivated? Wouldn’t there be conflicts of interest?

We are not here to discuss politics since we are not politicians or a political organization.

Our CEO is accountable to the Board of Directors, who is headed by an independent Chairman, just like any other commercial organisation.

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by @ 7:57 pm. Filed under Singapore, Asia, East Asia, Economy, Southeast Asia

2 Responses to “the temasek attachment”

  1. Gahmen Says:

    The reason why that question is not asked in Singapore is because… we already know the answers.

    Must be tough to impliment compliance since all potential anti-trust issues begin at the top!

    Scratch that. I think the word “compliance” itself has an entirely different meaning in Singapore.

  2. myrick Says:

    The question won’t be asked in Singapore (by the press) because we know we’ll be sued.
    Thanks for dropping by - though I’m very creeped out that the gahmen is leaving comments on my blog.

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