Singapore's Temasek chief likely to step down in August
- Financial Times
SINGAPORE, June 9 |
Wed Jun 8, 2011 11:04pm
EDT
SINGAPORE, June 9 (Reuters)
- The Chief Executive of Singapore's state investor Temasek
Holdings , Ho Ching, is likely to step down in August, Financial
Times reported on Thursday citing sources familiar with the
matter.
Ho Ching, the wife of Singapore's Prime Minister Lee Hsien
Loong, has been executive director at the company since May 2002
and chief executive since January 2004.
The company decline to comment on the report.
Temasek is expected to release its annual report next month.
Last year, the company posted a 43 percent increase in the value of
its portfolio to S$186 billion. [ID:nSGE66708P]
The company named former BHP Billiton Chief Executive Charles
Goodyear as designated successor to Ho in 2009, but he left the
company a few months after, citing differences in strategy.
Temasek's focus on Asia, particularly at home in Singapore,
increased in the 2009/10 financial year, and it said that strategy
would be maintained for the forseeable future, given volatility in
other world markets.
It has said 78 percent of its portfolio was in Asia as of
end-March, up from 74 percent a year earlier. Investments in
developed economies dropped to 20 percent from 22 percent. (Writing
by Harry Suhartono; Editing by Vinu Pilakkott)
