Ho Ching to leave Temasek Holdings
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Originally posted by Maggie.meepok:
lol - you are so funny.
Yes, in Singapore when it comes to the Lee family, I wonder if there is such a thing as "term". We are the only country in the known democratic world with an SM and then an MM. Kind of makes us laughing stock.
It's true, you need to read between the lines. When the press asked her what is her greatest regret, she says "I am not person who looks back to try to justify a reason for my living," aka "I have no courage to see the the damage I have done and the losses I have made using Singaporean's money."
And when they asked her what is her greatest achievement, she cannot even name one!!! She just said it was the "privilege of working with a wonderful team...". Hmmm... what kind of answer is that? Is that an achievement? Sounds a bit lame to me. Maybe she should just say: "My greatest achievement is having the guts to gamble with Singaporen's money, loose a lot, don't have to answer for it, and yet still able to walk out the casino with my head held high. Can you beat me at this game?"
Who knows that there might already be a team of experts working on digging out what can actually be considered as an achievement just so that they can create some kind of public service award for her.
Maybe they might even call it the "Resilience Award"?
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Originally posted by Maggie.meepok:
And when they asked her what is her greatest achievement, she cannot even name one!!! She just said it was the "privilege of working with a wonderful team...". Hmmm... what kind of answer is that? Is that an achievement? Sounds a bit lame to me. Maybe she should just say: "My greatest achievement is having the guts to gamble with Singaporen's money, loose a lot, don't have to answer for it, and yet still able to walk out the casino with my head held high. Can you beat me at this game?"
tt's right. LHL married a LOSER!
all her corporate life, she left carcasses of failed companies as her living legacy. and she is not even a looker, less so brain as she has amply demonstrated. worse still, her dress sense is worse than my 60 year old mother in law despite her riches and consultants at her disposal. (maybe, she is her own man)
what LHL sees in her defies common sense.
p.s. love is blind....i see.
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I smell a stinking rat when the chariman said that renewal was embarked in 2007 in view of the current economic situation.
1) They also claimed that the renewal was in line with its long term plan. So what the current economic situation (short term) has to do with it?
2) How is it possible to embark on a renewal (2007) in view of an event (2008) that has yet to be shaped? -
Originally posted by spencer99:
Interesting that the 'replacement' is previously a head of a 'mining' company?? And also a "FT". How come there isn't anyone fitting from the Party?
Or was it because the party is trying to distance itself from Temasek? I got a premonition that Temasek is going to annouce huge losses....
maybe feng shui man said, in order to recoup losses, the new person appointed must not be from the party. and the name must be 'goooooooooood'.
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Originally posted by 4sg:
I smell a stinking rat when the chariman said that renewal was embarked in 2007 in view of the current economic situation.
1) They claimed that the renewal was in line with its long term plan. So what the current economic situation (short term) has to do with it?
2) How is it possible to embark on a renewal (2007) in view of an event (2008) that has yet to be shaped?
in 07, they were trumpetting what a year it has been for singapore under their enlightened leadership. gee, i made lots of money too on the stock market back then.of cos, now they claimed they had the foresight to anticipate all this.
this is a critical failing of a person/org who do not admit to weakness.
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Originally posted by redDUST:
tt's right. LHL married a LOSER!
all her corporate life, she left carcasses of failed companies as her living legacy. and she is not even a looker, less so brain as she has amply demonstrated. worse still, her dress sense is worse than my 60 year old mother in law despite her riches and consultants at her disposal. (maybe, she is her own man)
what LHL sees in her defies common sense.
p.s. love is blind....i see.
Not just a loser. She had no credential with investment. She was a defence engineer.
I wonder how the Chairman can justified it what he said that her appointment was based on merit and not relationship.
What merit was he talking about?
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Originally posted by 4sg:
Not just a loser. She had no credential with investment. She was a defence engineer.
I wonder how the Chairman can justified it what he said that her appointment was based on merit and not relationship.
What merit was he talking about?
her major merit is that she was married to our PM...full stop -
Originally posted by angel7030:
her major merit is that she was married to our PM...full stop
very clever xmm...... -
Originally posted by baikachuchu:
Who knows that there might already be a team of experts working on digging out what can actually be considered as an achievement just so that they can create some kind of public service award for her.Maybe they might even call it the "Resilience Award"?
Yeah lor! My friend was saying exactly just that - wondering what kind of excuse will gahmen find to grant her an award for service to the country or find her another glam appointment
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Originally posted by 4sg:
Not just a loser. She had no credential with investment. She was a defence engineer.
I wonder how the Chairman can justified it what he said that her appointment was based on merit and not relationship.
What merit was he talking about?
I've always wondered how an engineer can become head of SWF like Temasek. Somebody please find me a prime minister to marry!
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Originally posted by Maggie.meepok:
Yeah lor! My friend was saying exactly just that - wondering what kind of excuse will gahmen find to grant her an award for service to the country or find her another glam appointment
govt already grant her 5 billions, what else she want some more, she better start learning how to cook, sew, wash, sweep, clean and serve LKY and his wife well. -
Originally posted by Maggie.meepok:
I've always wondered how an engineer can become head of SWF like Temasek. Somebody please find me a prime minister to marry!
ManMohan Singh of India ai mai??? he is still single -
Originally posted by Maggie.meepok:
I've always wondered how an engineer can become head of SWF like Temasek. Somebody please find me a prime minister to marry!
yap n we should be clap clapping here....
one down another to go.... -
Originally posted by angel7030:
ManMohan Singh of India ai mai??? he is still singledun anyhow sabo arh
dat one cannot see woman....chio or not....
the heart can stop anytime one.... -
Originally posted by redDUST:
... worse still, her dress sense is worse than my 60 year old mother in law despite her riches and consultants at her disposal. (maybe, she is her own man)
what LHL sees in her defies common sense.
p.s. love is blind....i see.
Haha...I do agree the dressing style needs some updating. Just look at the loose cheong-sum top she wore on front-page photo today - looks like cloth taken from some grandmother's sarong! Even the old Bibi in "Little Nonya" look better. Sometimes I wonder why someone who is not blessed with natural beauty but have so much money, can't invest a modicum of effort in this area.
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Originally posted by angel7030:
govt already grant her 5 billions, what else she want some more, she better start learning how to cook, sew, wash, sweep, clean and serve LKY and his wife well.
his wife? wat talking u..... -
Originally posted by angel7030:
ManMohan Singh of India ai mai??? he is still single
REALLY??? I've always dreamt of marrying an Indian man! -
Any one checked out Chip Billiton. Read This
Hope Temasek is not paying this type of huge salaries. Singapore is not endowed with Mines, just people working hard.
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Originally posted by Fantagf:
how many here bet that she is joining PAP after she leaves Temasek?
Nope, don't think so. More like she would be likely taking over the helm of Lee & Lee since the matriach is still going to have a long nap which we all know would not awake any more, besides the father and the son is still in politics and cannot hold any business interest so, someone has to 'jaga' the family business empire and who could be more suitable but own dotter inlaw who is not involve in politics.
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Originally posted by FocusPoint:
Nope, don't think so. More like she would be likely taking over the helm of Lee & Lee since the matriach is still going to have a long nap which we all know would not awake any more, besides the father and the son is still in politics and cannot hold any business interest so, someone has to 'jaga' the family business empire and who could be more suitable but own dotter inlaw who is not involve in politics...and the first thing she will do is "invest" in a foreign law firm and lose a couple of billions in a couple of months...
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...and when the senile despot's wife cannot take it, wakes up and questions her.... we all know her reply... "It is a long term investment."
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I wonder if she will be going on a trip to the Cordon Bleu Cooking School in France with her family anytime soon?
Afterall,she deserves a break after all the effort she has put in......
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The wife of Singapore's prime minister will step down after five years as chief executive of Temasek Holdings, one of the world's largest sovereign wealth funds, the firm said Friday.
Ho Ching, the wife of Lee Hsien Loong, will be replaced by American Charles "Chip" Goodyear, 51, former chief of Anglo-Australian giant BHP Billiton, the world's largest miner, a Temasek press release said.
She also will no longer serve on the company's board.
Her departure comes amid questions over some of Temasek's investments, most recently the billions pumped into former US investment bank Merrill Lynch since December 2007.
Merrill Lynch suffered massive losses from high-risk US subprime mortgage investments, and Bank of America acquired it on January 1 after fears rose over whether the Wall Street firm would survive.
Temasek's chairman, S. Dhanabalan, however insisted there was no connection between Ho's departure and the Merrill Lynch stake or an earlier venture into Thailand's Shin Corp.
Dhanabalan told reporters: "I would ask you to be a little cautious in coming to a conclusion that these investments are losses because we have a long-term view of our investments. And it is too early to say."
Temasek said Goodyear would take over as CEO-designate from March 1 and on October 1 would succeed Ho, who has led the firm since January 2004.
Temasek is a sovereign wealth fund, a form of government-created investment vehicle that has emerged as a potent force in global markets.
Such funds have sparked concerns that their policies are opaque and could threaten national security, but Temasek has claimed a record of transparency.
Asked last December about the performance of Temasek and Singapore's other sovereign wealth fund, the prime minister said they should not be judged only on their recent bailouts of troubled global financial institutions.
"The situation looks a lot gloomier now than when they went in, but these are long-term investments so we will see," Lee said. "It looks under water now but the situation can change."
In 2006, the overthrow of then Thai prime minister Thaksin Shinawatra marked the culmination of a crisis triggered in part by Temasek's takeover of a major conglomerate from his family.
Temasek purchased 49 percent of the Thaksin family-controlled telecom giant Shin Corp for nearly 1.9 billion US dollars.
Temasek and Singapore officials were stunned when the takeover erupted into a scandal in Thailand following disclosures the Thaksin family paid no taxes on its windfall gains from the deal.
In the financial year to March 2007, Temasek said its net profit fell 29 percent, partly because of the impairment of its investment in Shin.
Dhanabalan said the leadership transition was part of the normal succession process.
"It's got nothing to do with her performance," he said, adding the board, including Ho, "has been addressing succession planning annually since early 2005."
Song Seng Wun, a regional economist with CIMB-GK Research, said Ho's departure would distance Temasek's board from the Lee family, making it "politically less sensitive in terms of future acquisitions".
At a press conference with Ho and Goodyear, Dhanabalan said she had joined Temasek purely on the basis of merit, and had transformed the company.
"We will miss Ho Ching," the chairman said.
Ho, who appeared relaxed, praised the "wealth of experience" which Goodyear brings to the fund. She said she did not yet have plans beyond October.
Goodyear said he would try to "grow the footprint" of Temasek, which reported last August that its portfolio had risen in value to 185 billion Singapore dollars (122.8 billion US).
Temasek has stakes in a wide range of major regional firms, from financial and telecommunications to media and transportation.
http://news.sg.msn.com/regional/article.aspx?cp-documentid=2373369 -
One thing about this angmo is he got track record ...he turn bleeding and dying company into profitable company. While someone else managed to do the opposite ... how good he really is we shall see... in a way he came in at the right time when the economy is already at its pit , as it cant get any worse , the only way is up , so this guy is really so lucky , in 5 year some of the investment that seems to be a blunder and bleeding whch are actually fundamentally right ...may appear otherwise and he will get to take credit for it
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Originally posted by Maggie.meepok:
lol - you are so funny.
Yes, in Singapore when it comes to the Lee family, I wonder if there is such a thing as "term". We are the only country in the known democratic world with an SM and then an MM. Kind of makes us laughing stock.
It's true, you need to read between the lines. When the press asked her what is her greatest regret, she says "I am not person who looks back to try to justify a reason for my living," aka "I have no courage to see the the damage I have done and the losses I have made using Singaporean's money."
And when they asked her what is her greatest achievement, she cannot even name one!!! She just said it was the "privilege of working with a wonderful team...". Hmmm... what kind of answer is that? Is that an achievement? Sounds a bit lame to me. Maybe she should just say: "My greatest achievement is having the guts to gamble with Singaporen's money, loose a lot, don't have to answer for it, and yet still able to walk out the casino with my head held high. Can you beat me at this game?"
ha ha ha hah, well said. ONly the members of the Lee family and PAP are entitled such