Economy

Ho Ching wife of Singapore prime minister is stepping down as CEO of $230 billion state investor

On Tuesday, Temasek Holdings announced that Ho Ching is stepping down from her roles as Chief executive and executive director on 1st October.

Since 2004, the wife of Singapore’s Prime Minister Lee Hsien Loong has become Temasek’s CEO. Dilhan Pillay Sandrasegara who is recently the CEO of the firm’s investment arm, Temasek International will be succeeding her.

Temasek is known as the world’s largest investors. However, as of the 31st March 2020, its portfolio value stood at 306 billion Singapore dollars ($230 billion).

For many years, Temasek’s leadership succession has been widely discussed. In October 2009, Ho had now planned to step down but still stayed on after then CEO-designate, Charles Goodyear, left the company.

However, Ho Ching’s successor Pillay is the former corporate lawyer who joined the company 10years ago. Now, he became the CEO of Temasek International in 2019. He has overseen the company’s investment activities.

Soon Pillay will be retaining his role at the investment arm after becoming the CEO of Temasek Holdings. Moreover, in the early days, the company has now invested highly in Singapore companies from that time its= became a major global investor.

In 2020, the company’s annual report the latest one available showed that assets in China accounted for 29% of its portfolio. Moreover, this was followed by Singapore at 24% and North America at 17%, as per the report.

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