After more than 6 years at the helm of Temasek Holdings, Ms Ho Ching is stepping down as CEO. Chairman S. Dhanabalan said he was instrumental in bringing in Ho Ching purely on the basis of merit and not her relationship with anyone. Of course it's hard to believe since she is the wife of the Prime Minister.
Ho Ching said that Temasek have a strong balance sheet built up over the years. No doubt about it, I can only guess that they were built up with local assets and owning companies that were mostly Monopoly in nature. But their foreign investment stink!
Despite Temasek having the brightest scholars and the best fund managers, they have performed poorly in spite of the connections and information available to them. There is no doubt that managing well over S$100 billion is no easy meat but with all the resources available to them, it's rather disappointing.