SINGAPORE: Temasek, Singapore’s global investment company, has released a book to commemorate its 50th anniversary. Titled By Generations, For Generations: Fifty Years of Temasek as Told by the People Who Shaped It, the publication reflects on the company’s evolution, major milestones, and the challenges it has faced over the decades.

In the prologue, Ho Ching, former Chief Executive Officer of Temasek Holdings (2004-2021) and current Chairman of Temasek Trust (since 2022), shares her insights on her years with the company.

Ho, the wife of Singapore’s Prime Minister Lee Hsien Loong, who served from 2004 to 2024, discusses the strategic shifts that occurred during her tenure.

A key focus was Temasek’s decision to prioritize Asia in the early 2000s, which transformed the company’s approach to investments.

Ho recounts her initial reluctance to join Temasek after being approached by then-Chairman S Dhanabalan. At the time, she was considering early retirement after a successful career that included serving as CEO of Singapore Technologies.

However, after further discussion, she decided to take on the role of executive director, a position that allowed her to contribute without the added pressures of being CEO at the time.

She reflects on the early challenges Temasek faced, particularly its struggle to define itself after its establishment.

Initially, Temasek was transitioning from its roots in the Ministry of Finance, where it was responsible for managing a broad portfolio of state assets. Ho highlights that, during her early years, the organisation faced operational inefficiencies, with outdated practices and fragmented departmental structures hampering its progress.

By 2002, under CEO Quek Poh Huat, the company began to evolve. It focused on building a stronger management team by bringing in experienced professionals and launching ambitious projects, such as the public listing of Singtel. However, despite managing a portfolio that included prominent companies like Singapore Airlines and DBS, Temasek was often seen as conservative, with internal silos limiting collaboration.

The company underwent further restructuring throughout the 2000s, seeking to break down these silos and promote collaboration. These efforts were part of a broader initiative to align the company’s operations with its long-term goal of delivering sustainable returns.

A pivotal moment in Temasek’s history came in 2002, when it shifted its investment strategy towards Asia.

This decision, driven by the region’s growing economic potential, marked a significant change in the company’s focus, as it sought to build on its success in Singapore by supporting growth across Asia.

Temasek set ambitious targets, including the T2010 initiative to double its portfolio value by 2010, a goal the company achieved by 2007. However, the Global Financial Crisis of 2008-2009 presented significant challenges. Despite these setbacks, Temasek rebounded and exceeded its initial targets, positioning itself for further expansion.

Ho Ching also discusses the importance of succession planning at Temasek, emphasising the need for leadership committed to sustainable, long-term investments. She expresses confidence in her successor, Dilhan Pillay Sandrasegara, who took over as CEO in 2021, noting his ability to navigate the complexities of the modern global investment landscape.

Online Reactions to Ho Ching’s Story Spark Debate

Ho Ching’s reflections in the prologue have sparked mixed reactions online. After Mothership published a Facebook post about her story, many netizens, in the hundreds, voiced their scepticism, particularly questioning her account of initially rejecting the CEO role at Temasek.

One commenter remarked that while Ho’s account was “nice,” it seemed hard to believe. This individual noted the perceived conflict of interest in her appointment, given her family connections, and questioned why Lee Kuan Yew, Singapore’s first prime minister and her father-in-law, allowed her to take on the top role at Temasek despite other qualified candidates being available.

Another commenter shared similar concerns, likening her appointment to the common trope of someone being “randomly chosen” for a position they didn’t actively pursue. Others speculated that Dhanabalan’s decision to approach Ho for the role was likely influenced by her status as the Prime Minister’s wife, raising concerns about nepotism.

Additional scepticism was expressed regarding her remuneration, with one netizen stating they would only believe her story if she publicly disclosed her salary, which they speculated could be in the nine-figure range. Another commenter was more dismissive, suggesting that with such high pay, few would actually reject the opportunity.

Some reactions were more direct, questioning Ho’s claim of avoiding power and her decision to remain in the CEO role for 17 years. Several comments implied that her extended tenure contradicted her narrative of initially resisting the position, suggesting she had grown comfortable with the influence and status that came with it.

Netizens Mock Ho’s “Taking Life Easy” Remarks

Ho Ching’s statement that she had been planning to “take life easy” before receiving the call to join Temasek also drew sarcastic responses.

One netizen remarked that Mdm Ho had gone from taking life easy to making it even easier by joining Temasek, implying that her role at the company provided her with even more comfort.

Others expressed doubt about how someone could claim to take life easy while being married to one of Singapore’s most powerful figures.

Some comments mocked her remarks as out of touch with the everyday struggles of Singaporeans facing rising living costs.

One commenter pointed out that Ho’s luxurious lifestyle, coupled with her role at Temasek, made her claim of seeking a simpler life appear disconnected from the reality of ordinary citizens.

SINGAPORE: Former Singapore President Halimah Yacob expressed concerns over the ongoing assault in Palestine in a Facebook post on Sunday (29 Sept).

She referenced a speech by UN Secretary-General António Guterres at the UN General Assembly on 24 September, where he condemned global impunity and warned of escalating violence in Gaza and Lebanon.

Quoting Guterres, she reiterated his remark that “the level of impunity in the world is politically indefensible and morally intolerable.”

Mdm Halimah highlighted the worsening situation in Gaza, noting the devastating toll on civilians, particularly children.

She cited the loss of over 41,000 Palestinians, including 14,000 children, and emphasised that more lives are being lost daily due to starvation, untreated injuries, and disease.

Mdm Halimah further underscored the destruction of vital infrastructure, including homes, schools, hospitals, churches, and mosques, while nearly the entire population of 2.3 million has been displaced.

Concluding her post, Mdm Halimah criticised the failure of international humanitarian law, stating, “International humanitarian law is meant to uphold humanity, but it’s obviously failed.”

UN report highlights humanitarian crisis in Gaza amid ongoing conflict

The UN Office for the Coordination of Humanitarian Affairs (OCHA) released a report on Friday (27 Sept), detailing the worsening humanitarian situation in Gaza as Israeli bombardments continue.

The air and land strikes have resulted in further civilian casualties, widespread displacement, and the destruction of critical infrastructure.

In September alone, at least 11 schools sheltering displaced people have been hit, with nearly 100 fatalities reported.

Displaced residents are enduring harsh conditions in overcrowded tents and damaged buildings, with limited access to food, water, and basic necessities, according to recent UN assessments in Deir al-Balah and Khan Younis.

Nearly 90 per cent of humanitarian movements between northern and southern Gaza in September have been blocked or delayed.

On 23 September, the Inter-Agency Standing Committee (IASC) called for an end to the violence in Gaza, stating that more than 2 million Palestinians are without essential services, including food, water, shelter, and healthcare.

The IASC also highlighted the severe impact on women and girls, as well as the ongoing risk of famine.

According to the Palestinian Health Ministry, over 41,500 Palestinians, including 16,500 children, have been killed, with more than 96,000 injured and over 10,000 reported missing since the conflict began.

Guterres condemns global impunity, warns of escalation in Gaza and Lebanon

United Nations Secretary-General António Guterres, speaking at the UN General Assembly on Tuesday (24 Sept), condemned the increasing disregard for international law by governments and groups across the world.

He criticised those who believe they are “entitled to a get out of jail free card.”

Guterres highlighted the alarming trend of governments acting with impunity, stating that they “can trample international law” and “invade another country, lay waste to whole societies, or utterly disregard the welfare of their own people.”

He described this as “politically indefensible and morally intolerable.”

With the nearly year-long conflict between Israel and Hamas in Gaza threatening to spread into Lebanon—where Israel targeted over 1,000 Hezbollah sites—Guterres issued a strong warning.

He stated that “Lebanon is at the brink” and stressed that the country must not “become another Gaza,” highlighting the severe risks for regional and global stability.

Guterres further emphasised the unprecedented level of destruction in Gaza, noting that the speed and scale of the violence are unlike anything he has witnessed during his time as Secretary-General.

The Secretary-General called for immediate international mobilisation to secure a ceasefire, the unconditional release of hostages, and the initiation of an irreversible process toward a two-state solution.

He warned that actions undermining this goal, such as expanding settlements and land grabs, are unsustainable, questioning what alternative exists if the world allows a one-state reality where a significant Palestinian population is denied freedom, rights, and dignity.