I'm sure the people running Temasek felt strongly that this Mr. KK Lau and Thaksin can be trusted before they invested tax payers' money. When they invested in Merrill, they also had great confidence in John Thain who later became the posterboy of greed and incompetence on Wall Street. Going back even further Ho Ching wrote this piece in support of NKF & Durai when the NKF scandal broke - it says a lot about her judgement and values.
Earlier this year, we were told that Chip Goodyear was hired after a long search. Yet when he resigned, we are told that "the Board and Mr Goodyear concluded and accepted that there were differences regarding certain strategic issues that could not be resolved". Gee, nobody bothered to ask him about what his strategies were and his views on key issues when he was interviewed for the job? Is that how we hire people to manage billions of tax payers' money? ....After a long worldwide search to find someone suitable to run Temasek, they realise now that he is not suitable.
"The hiring of a foreign CEO is a notable change, and we hope it’s a signal that Temasek and Singapore’s leaders understand the need for more transparency in the company’s operations. The world is demanding more openness and accountability from sovereign-wealth funds, and the shareholder-voters of Singapore deserve nothing less.” (Source: WSJ)
Whatever the real story is behind the scenes, it is not meant for ordinary Singaporeans to know. We are only told what they want us to believe. We, the ordinary citizens, only get the facade from Temasek on everything it does and that is the real issue.