After the announcement yesterday (July 9) that Temasek Holdings, Singapore’s state investment firm, reported a record net portfolio value for the last financial year, many, including Prime Minister Lee Hsien Loong’s younger brother, have been asking about why its chief executive officer (CEO), Ho Ching’s salary remains shrouded in secrecy.
PM Lee’s brother, Lee Hsien Yang, took to Facebook earlier today to point out an obvious, but hidden, piece of the puzzle. He wrote, “Temasek announced its results yesterday. No surprise that it still didn’t disclose Ho Ching’s salary”.
Temasek announced its results yesterday. No surprise that it still didn’t disclose Ho Ching’s salary. Why is it such a…
Posted by Lee Hsien Yang on Wednesday, 10 July 2019
The younger Mr Lee also questioned, “Why is it such a big secret?”.
Along with his post, Mr Lee Hsien Yang also shared the following article:
The secret that is Ho Ching’s salary – will we ever know?
One Singaporean, Philip Ang, did some calculations and comparisons on his blog speculating Mdm Ho Ching’s salary.
In a post, Philip wrote, “Although Temasek Holdings manages our state reserves and should be transparent, the PAP government has legislated senior management executives’ remuneration state secret”.
Ang continued, explaining, “This is because Temasek Holdings (Private) Ltd and Government-Linked Companies (GLCs) are considered to be private sector companies”.
Last year, after looking at the doubling portfolio value of Temasek Holdings, Ang then speculated that Ho Ching earns “about $300,000 a day”.
As to the value today though, her salary still remains very much a mystery. /TISG