ST May 17, 2007Temasek launches $500m trust fund for Asia
Up to 4% every year will be used to support range of projects across the region
By Yap Su-Yin
TEMASEK Holdings has created a trust with an initial endowment of $500 million to support development and relief projects across Asia.
The Trust will disburse up to 4 per cent of the fund every year to support anything from youth exchange programmes to scholarships, research and disaster relief.
Signing the deed of gift yesterday, Temasek Holdings chairman S. Dhanabalan said the Trust would institutionalise the company's role as a 'corporate citizen'.
'This signals our larger commitment to play a constructive role in the continued progress and success of Asia and people in Asia,' he said.
The Trust will not actively solicit donations, but will receive funds from Temasek Holdings' profits and accept donations from third parties.
'Just as we have both benefited from and contributed to Singapore's success through our investments since the 1970s, we hope to similarly benefit from and contribute to Asia's growth and development as a prosperous and stable region, through our role as a long-term investor in Asia,' Mr Dhanabalan said.Temasek needs this. It's a convenient way of purchasing goodwill in the countries where it plans to make major investments.
The picture I have posted is from 2006 - Thais were burning Lee Hsien Loong's effigy in Bangkok. This was when the anti-Singapore sentiment arising from the SShin Coirp debacle was at its peak.
6 comments:
It is sad how we can 'invest' in such things, but be really stingy in giving $290 to those on Public assistance. And means testing to C ward etc etc.This piss me.
I don't know if you are being sarcastic Mr Wang ;P I am of the view goodwill cannot be purchased so simply! For example, donating your salary increase can buy no moral standing from my viewpoint...
But I agree, yes, it is a great start. We have a responsibility as neighbors to be neighborly and this does sound like an initiative that if managed correctly will build trust on the ground and perhaps we will finally grow as a region. (i'm being fairly optimistic here =)
It's much better then going overseas to diss our neighbors repeatedly, as a certain prominent member of our government is known by the international media to do at regular intervals. cough cough.
I wouldn't say Temasek needs this. I'd say Singapore needs this. We need to be seen as a nation that benefits our neighbours - Malaysia, Indonesia etc.. and "give back to the community". Some people may call this "soft imperialism" - I prefer to call it "friendship diplomacy". By our unique ethnic disposition and geographical size, we cannot risk antagonizing our neighbors. And so I hope that Temasek or our govt would help build hospitals, schools, trains doctors, teachers, police, engineers, and civil servants in the region. Its a win-win situation- what benefits them will also benefit us.
In the study of Public Relations, one builds good PR in the market that one operates in. So this is just standard business strategy.
Alas within Singapore itself market forces do not apply. Hence the way govt continues to ride rough shod over the citizens.
That's a good idea. The goodwill fund I mean.
Well< we have yet to know how things will work out< but as highlighted in some posts here as well as Mr Wang Blog< many are not optimistic with some having suspicions> How will Singaporeans benefit from Temaseks generosity vis a vis foreign policies that are viewed to irritate our neighbours such as Singapore pandering to the US?
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