Furry Brown Dog

Dedicated to the memory of my canine friend…

Goodyear’s daunting incoming Temasek headache

with one comment

The FT published an analysis of the challenges incoming Temasek chief Chip Goodyear would face when he formally takes over on 1st Oct 2009:

Such attitudes will put Mr Goodyear’s actions under the spotlight after several controversial investments under the leadership of Ho Ching, the current chief executive and wife of Lee Hsien Loong, the Singapore prime minister.

Mr Goodyear will lead a management team whose top ranks are dominated by foreigners, including former executives from Danone and Morgan Stanley. But some doubt whether the new executives will be able to carry out changes at Temasek.

This comes after latest developments signifying that Temasek is more willing to bet on future China economic booms rather than elusive green shoots in more developed Western financial markets.  It’s also trying to reduce its financial exposure to American and European financial assets.  But certainly one should consider this an irony:

The renewed focus on Asia marks a return to the strategy favoured by Ms Ho during her early years as Temasek head. It was then that Temasek made its most successful foreign investments, including buying Indonesia’s Danamon bank, acquiring stakes in China Construction Bank and Bank of China and gaining a profitable foothold in India by establishing an investment fund there. Temasek last week increased its CCB holding to 6.5 per cent.

So Temasek is set to replace it’s Asian CEO (Ho Ching) with a American candidate whilst gearing up its investments in Asia and less in Europe/America?

Advertisements

Written by defennder

May 27, 2009 at 11:15 PM

Posted in Singapore affairs

One Response

Subscribe to comments with RSS.

  1. Thanks much for blog post. It is really imformative read.
    I really like to browse furrybrowndog.wordpress.com!

    los angeles teeth whitening

    tombokspoopay

    June 19, 2009 at 8:23 AM


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: