Asia Sentinel, 5 Jun 2009
Singapore officials' sense of superiority has taken another beating. A behind-the-curve bunch of sheep with MBAs may now be the truer image. While the sovereign wealth fund of Abu Dhabi has cleaned up on its investment in Britain's Barclays Bank, Temasek Holdings, still headed until October by Ho Ching, wife of Prime Minister Lee Hsien Loong, has bailed out at a loss estimated at around US$850 million.
The news didn't come out of Singapore, where embarrassments involving the first family get the minimum attention, but from analysts in London and New York studying the movement of major shareholders in Barclays. The citizens of Singapore were apparently not worthy of being told of how their money is being mismanaged.
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