According to Saturday's Straits Times, everything is fine. Temasek has complied with the law and this is a good long term investment. It is not predicated on who is prime minister, meaning if they had to do it over again with the benefit of hindsight, Temasek would still do the same thing. ...there is no need to compile any lessons learned. They have learned alot under the leadership of Ho Ching. No Thai laws are broken and Temasek did not use illegal proxies in its purchase of Shin Corp. With people of the highest integrity taking care of Singaporeans' money, we simply don't have anything to worry about.
Yes, I was so reassured after reading the Straits Times on Saturday, I slept very soundly knowing that the Singaporeans' money is safe. The next day, I bought a copy of The Edge. It has an interesting picture of the shareholding of Shin Corp. Yes indeed, Temasek does not control it despite paying $5.9B (now worth $3.8B). A certain Mr. Lau together with Siam Bank has control over Shin Corp. Mr. Lau? Yes, he paid $70M and together with Siam Commercial Bank controls 52% of Shin. Now who is Mr. Lau? He is a Malaysia based Thai who is linked to former Malaysian Finance Minister Diam.
Since Temasek complied with all the Thai laws and regulations which allows foreign companies to own a maximum of 49%...and Temasek has said it doesn't use proxies to illegally buy and control Shin. Singapore taxpayers don't own or control Shin Corp at all after paying $5.9B, it is this Malaysia based businessman Lau & Siam Commercial Bank that controls it. Temasek must have done it due diligence to have Shin under the control of someone else.
See how smart the people in Temasek are and how much care they put into managing your money. Singaporeans are so lucky to have Temasek Holdings take care of their money and putting taxpayers' money into all sorts of long term investments. My uncle is also a good investor everytime he buys a stock that goes down sharply in value, he tells us it is for the long term.....I never thought of him as Temasek Holding material, but I think he can apply.
There is no need for more transparency in Temasek Holding. With the Straits Times explaining to us how every Temasek investment is a winning one, we can sleep tight and sleep well. Why trouble yourself with the personalities like Mr. Lau etc. Please read the Straits Times article thoroughly, you can only conclude it is a good investment.