THE TEMASEK TIMES

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Former PAP minister Lim Boon Heng appointed as director of Temasek Holdings

Posted by temasektimes on June 7, 2012

Former PAP minister Lim Boon Heng has been appointed as director of Temasek Holdings with effect from 1 June 2012 as reflected on its official website:

Mr Lim holds several positions in the Singapore government from 1993 to 2011. His last position was a Minister in the Prime Minister’s Office. He was also a former Secretary-General of Singapore’s only legal trade union NTUC.

It is a common practice in Singapore for retired ministers to be appointed as directors of government-linked companies. A former PAP minister Dr Lee Boon Yang, a vet by training, was appointed as a director of shipbuilding company Keppel Holdings after he relinquished his cabinet position last year.

Temasek Holdings is Singapore’s second largest sovereign wealth fund and its CEO is Ho Ching, the wife of Prime Minister Lee Hsien Loong.

 

17 Responses to “Former PAP minister Lim Boon Heng appointed as director of Temasek Holdings”

  1. spotlessleopard said

    Merleetocracy at work…

  2. Elva said

    Not too sure if the direction of Temasek Times is going wayward with the so-called ‘sexy’ news for readers. Please review.

  3. Lim said

    Sometimes I wonder if ex-ministers’ pensions are not enough for them to survive that they have to be appointed be advisors or directors of govt-linked companies. Too many directors will place an onerous financial burden as they are not there pro bono. How can the cost of living come down like that when so many top-heavy companies have numerous directors to feed?

    • Beenthereseenit said

      The reasons for appointing ex PAP ministers into these roles are
      1. To reward them for staying loyal to the party,
      2. To put own people who have proved loyal, into key positions so secrets continue to be kept secret,
      3. You scratch my back, I scratch yours.
      It’s all in the PAP familee!

      • Lim said

        When will Pandora’s box be opened? Chris Balding’s revelations need to be answered. How much have we lost? No point talking about long-term investments – 50 years? all dead and gone. Even China’s sovereign fund is reducing Europe’s investments but our Temasek is reported to be going in to buy like the way they bought ailing American banks and got badly burnt?

  4. denzuko1 said

    Temasek Holding is considered as an investment company, does our minister without porfolio even have the qualification on this?

    • DIY said

      I remember reading the ST some 35 years ago. Mr Ooi was the fund manager and owner of Temasek Fund. The portfolio was few billion SG dollars. He intended to retire at 60 years and hand over to the late Finance Minister Mr Hon See Sen to manage the asset.

      Now Temasek Holding is brand name. Wonderful isn’t it.

  5. Compatriot said

    The PAP is in quagmire situation and awkard,complex and embarrassing position
    By appointing LIm Boon Heng (Trade Uniion man) as a director for Temasek Holdings to propagate and politicise its corporate and political entity

    The NTUC is more or less a copycat of the Trade Union Congress (TUC) of England

  6. rfdude said

    This is how they “reward” ministers who “graciously” take a step back. As for Worker’s Party, they will have members such as Poh Lee Guan to turn renegade

  7. hello said

    Why so many directors?

    • DIY said

      Currently there are only 8 directors. The good investment strategy is that we should go for 100 directors in Temasek Holding. I give an example.

      We compare George Soros who is fund manager of Quantum Fund for millionaires. Under US law they are restricted to 100 members only. That’s how George speculated and was known as “The Man Who Broke the Bank of England”

  8. Jaded said

    this type of good lobang is not for peasants like us…

  9. voice fron the origin singapore said

    Cry baby…yes

  10. 龙的传人 said

    众望所归,欢迎林先生的加入。
    林先生多年从政经验丰富,将能为公司提供丰富的知识。
    活到老做到老,是我们学习的好榜样。

  11. gilbert the loser koh said

    left hand give to right…then right hand give to left…on and on it goes!

  12. Dr XYZ said

    All jia liao bee. Waste taxpayers’ monies. Ouch!

  13. Chris said

    What do u expect?chiam See Tong???

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