TR EMERITUS

Temasek Holdings had written off US $275 million in its investment in FTX. During the past 15 years, TH had incurred large losses in some of its investments. In 2008, TH wrote off its $400 million investment in ABC Learning Centers in Australia. There were other bad investments, which raised much concern in the past. Personally,... 

Many people in Singapore were disappointed that Temasek Holdings invested and wrote down US$275 million in its investment in FTX. There were surprised and shocked to learn, after the collapse, that FTX was run by a team of young, inexperienced people, and there were no proper governance, accounting and risk management practices... 

I refer to Madam Ho Ching's recent defence of Temasek's total write-down of its FTX investment loss of US$275 million or SGD 377 million and among other things that she mentioned, 'we can afford to be contrarian'. I have some thoughts. There is absolutely no doubt that Temasek has very deep pockets and that been the case, of...