The Nation, 9 Feb 2009, Thanong Khanthong
CEO Ho Ching's exit won't alter fortunes of the sovereign wealth fund in short term
Ho Ching's resignation as CEO of Temasek Holdings would not cloud heavy losses of about 40 per cent at Singapore's sovereign wealth fund amid the global financial market meltdown.
The Government Investment Corporation of Singapore (GIC) is also suffering similar heavy losses.
An investment analyst in Singapore said Temasek's results will be released in April and he estimated that of its US$125 billion portfolio as of March 2008, Temasek would have lost 40 per cent, leaving it with about US$75 billion left.
As for the Government Investment Corporation of Singapore or GIC, the investment analyst said it would also lose more than a third of the value of its investment portfolio.
Read More
