Financial Times, 26 May 2009
The most highly anticipated corporate event of the year in Singapore will occur on October 1 when the leadership of state investment agency Temasek Holdings passes to Chip Goodyear, the former chief executive of BHP Billiton.
Speculation is rife about what changes Mr Goodyear will make, from whether there will be a management reshuffle to possible moves to make the Singapore state investment company more open and transparent.
But the challenges that face Mr Goodyear were underscored this week when several members of Singapore’s parliament from the ruling party took the unusual step of criticising Temasek in a floor debate over the investment agency’s recent decision to sell its 3 per cent stake in Bank of America at an estimated loss of between $2.3bn and $4.6bn.
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