No bonuses for Temasek staff
THE entire staff of Temasek Holdings are taking personal financial hits, with annual bonuses likely to be slashed in the wake of the investment firm’s losses over the past year.
Part of every Temasek employee’s bonus goes into a pool that is paid out over a number of years rather than at the end of each [...]
Temasek CEO Ho Ching to quit after rocky ride
SINGAPORE (Reuters) – Ho Ching will step down as the chief executive of Singapore state investor Temasek Holdings, as it faces a difficult time after a turmoil in global markets slashed the value of its investments.
Chip Goodyear, the former CEO of BHP Billiton, will replace Ho, wife of Singapore Prime Minister Lee Hsien Loong, on [...]
Worst is yet to come says finance Minister Tharman Shanmugaratnam
FINANCE Minister Tharman Shanmugaratnam has warned that the worst of the credit crunch has yet to come.
The world’s biggest banks still have toxic assets on their balance sheets, which are clogging up their ability to lend, Mr Tharman said in an interview with Bloomberg Television on Wednesday.
Banks are still focusing on replenishing capital ‘and estimates [...]
Temasek plans pay cut, sees prolonged slump
TEMASEK Holdings Pte Ltd, Singapore’s investment company, plans to cut salaries and says a worldwide recession may extend beyond 2009. The firm, which oversees US$130 billion, said that senior management has volunteered a 15-25 per cent pay cut. The key managers will provide almost 90 per cent of the savings from the companywide cut, it [...]
