The prime minister's powerful better half
Introduction Temasek Holdings is a Singapore-based investment company with over US100 billion in assets, including shares and investments in a wide range of industries worldwide. It is owned by the government of Singapore and the prime minister of Singapore, Lee Hsien Loong, has a supervisory role over the company. Although there were accusations of nepotism when Ho Ching, the prime ministers wife, joined the company in 2002 (at the time her husband was the Finance Minister of Singapore and her father-in-law the legendary former Prime Minister of Singapore, Lee Kuan Yew), Temasek Chairman Dhanabalan told Businessweek I got her not because of her political connections but because of her competence and record (Thomas White International 2010). Ho Ching has proved to be a formidable leader who transformed Temaseks inner structure as well as its international profile. In 2002 the companys investment portfolio was domestically-based and comprised mainly government-linked companies. Under her leadership, the company revised its investment strategy and took bold steps (in Asia and then further afield) through cultural diversification, a global outlook and transparent policies. From a company which employed mainly Singaporeans in 2002, Temaseks staff included people from 22 different countries and the company had a senior management team that was 40 non-Singaporean in 2007 (Thomas White International 2010). The companys portfolio grew exponentially during her leadership and Temasek transformed from being a largely domestic investment company in 2002 to a global-oriented investment house. Thanks to Ho Chings deal-making, the net value of Temaseks portfolio grew 27 to US108 billion in 2010 from US80 billion the previous year. This is the first time that Temaseks portfolio has crossed the US100 billion mark, the company said in a statement. Temasek reports a healthy 17 yearly compounded rate of return to its investments since its inception in 1974 (top10malaysia.com).
References: Ching, H. 2009. Speech given at the IPS Corporate Associates Lunch in Cialdini, RB. 2006. Influence The psychology of persuasion. New York Harper Business. Mandela, N. 1995. Long walk to freedom The autobiography of Nelson Mandela. Boston, OH Back Bay Books. Maxwell, J. nd. Team work and vision go hand in hand. Available at HYPERLINK http//johnmaxwellonleadership.com/2013/03/26/teamwork-and-vision-go-hand-in-hand/http//johnmaxwellonleadership.com/2013/03/26/teamwork-and-vision-go-hand-in-hand/ (accessed on 22 June 2013). Rogers, J. 2007. Time International 169(20)82. Thomas White International. 2010. Emerging Leader Ho Ching, CEO, Temasek. Available at HYPERLINK http//www.thomaswhite.com/global-perspectives/ho-ching-ceo-temasek/http//www.thomaswhite.com/global-perspectives/ho-ching-ceo-temasek/ (accessed on 20 June 2013). Top10malaysia.com. Ho Ching Singapores First Lady Boosted Temaseks Fortunes. Available at HYPERLINK http//top10malaysia.com/home/index.php/top-10-of-asia/ho-chinghttp//top10malaysia.com/home/index.php/top-10-of-asia/ho-ching (accessed on 20 June 2013). Wikipedia. 2013. Ho Ching. Available at HYPERLINK http//en.wikipedia.org/wiki/Ho_Chinghttp//en.wikipedia.org/wiki/Ho_Ching (accessed on 20 June 2013). Yukl, G. 2013. Leadership in organisations. 8th edition. Harlow Pearson. PAGE MERGEFORMAT 4 Y, dXiJ(x( I_TS 1EZBmU/xYy5g/GMGeD3Vqq8K)fw9 xrxwrTZaGy8IjbRcXI u3KGnD1NIBs RuKV.ELM2fi V vlu8zH (W )6-rCSj id DAIqbJx6kASht(QpmcaSlXP1Mh9MVdDAaVBfJP8 AVf 6Q