Should the International Bar Association take note? There are
other newspapers that have produced the excerpts of the FT artilce
for their readers to draw their own conclusion if it is libelous.
In fact, the apology by FT backfires on the Lee family as more
people become aware of the fact that one family runs the countrys
enormous wealth funds.
Here's the offending passage from the FT article:
On the subject of sovereign wealth funds, there seems to be a whole
lot of lovin' going on within the Temasek family.
DBS Bank, whose biggest shareholder is Temasek, this week surprised
many by announcing that US-born Jackson Tai would step down towards
the end of the year. Mr Tai was said to be keen to "spend more time
with his family".
Last week Jimmy Phoon, Temasek's chief investment officer,
announced he was leaving "to take a break and spend some time with
the family".
Perhaps we shouldn't be surprised at the reasons. Singapore, after
all, is built on strong family values. Lee Kuan Yew, founding
father of the city-state, must be proud to see Lee Hsien Loong, his
son, occupy the role of prime minister.
Mr Lee (Jnr) himself will be pleased Ho Ching, his wife, has helped
turn round the performance of Temasek after being appointed chief
executive in 2002.
The rumour mill now suggests Lee Hsien Yang, the younger brother,
could replace Mr Tai at DBS. The younger Mr Lee earned his spurs as
chief executive of SingTel, also part of the Temasek
firmament.
