Connect with us

Singapore’s Founding Father Lee Kuan Yew Passes at 91

Published

on

Photo Credit: Prime Minster of Singapore's Office

Photo Credit: Prime Minster of Singapore’s Office

Lee Kuan Yew, Singapore’s first elected prime minister who served starting at the age of 35, passed away at 3:18 AM Singapore time on Monday. On February 5, 2015, elder statesman Lee Kuan Yew was hospitalized for severe pneumonia. Under Lee’s watch, he oversaw the modernization of Singapore from a tiny British outpost into a wealthy trade and financial powerhouse in Asia.

The Singapore Prime Minister’s Office posted, “The Prime Minister is deeply grieved to announce the passing of Mr Lee Kuan Yew, the founding Prime Minister of Singapore. Mr Lee passed away peacefully at the Singapore General Hospital today at 3.18am. He was 91.”

Lee Kuan Yew was active in the formation of Singapore and its eventual separation from Malaysia in 1965 – which he saw as a “moment of anguish”. Lee’s leadership dealt with the integration of a diverse population of Chinese, Malays and Indians. Fully aware that Singapore lacked natural resources and land, Lee sought to diversify Singapore’s economy. Today, the island country boasts international brands such as Singapore Airlines and DBS. Under his administration from 1959 to 1990, the sovereign wealth funds of Temasek Holdings and GIC were formed. He was the first Chairman of GIC’s inaugural board of directors. In 1990, Lee Kuan Yew was succeeded by Goh Chok Tong as Singapore Prime Minister.

GIC: Group President Lim Siong Guan released a statement in Singapore press:

“The GIC community is saddened by the passing of our Founding Chairman, Mr Lee Kuan Yew. Mr Lee had retired after 30 years of service in May 2011 and continued as Senior Advisor and Chairman of our International Advisory Board.

“Mr Lee’s contribution to GIC had been immense. In the three decades that he was Chairman, he guided GIC through many global and regional financial crises and saw to key milestones in its corporate development.

“In particular, GIC benefitted greatly from Mr Lee’s deep understanding of the complexities that undergirded global political, social and financial systems. His insights kept GIC grounded and focussed on the fundamentals when it came to investing for the long term.

“Despite his stature and busy schedule, Mr Lee always found time beyond Board meetings to engage GIC. It was a privilege to have him in our midst.”

Former FSDEA Chairman Arrested in Angola

Published

on

Jose Filomeno de Sousa dos Santos, the son of Angola’s former president and former chairman of the country’s sovereign wealth fund, has been placed under arrest, according to the state prosecutor’s office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Keppel Land China Acquires Stake in Nanjing Jinsheng Real Estate Development

Published

on

On September 20, 2018, Keppel Land China, a subsidiary of Singapore-based Keppel Corporation, purchased a 40% stake in Nanjing Jinsheng Real Estate Development Co, a subsidiary of Gemdale Corporation. Keppel Land China did the deal through an entity called Eternal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Korea NPS Co-Invested in Delaware Basin Assets with Morgan Stanley

Published

on

The Delaware Basin is a geologic depositional and structural basin in West Texas and southern New Mexico. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.