Temasek Holdings: Letter to Australian Media on March 23
The letter states, “To whom it may concern:
We wish to provide key facts about Temasek for your readers. As affirmed in our previous letter to the Australian media on 31 October 2010, Temasek plays no part in the governance, operations or investment decisions of the Singapore Exchange (SGX).
While Temasek owns SEL Holdings, a special purpose entity which holds a 23.5% stake in SGX, this stake is held by Temasek for the benefit of the Financial Sector Development Fund, with no control or influence over SGX.
By law, SEL is not permitted to exercise or control the exercise of votes attached to the SGX shares, and therefore cannot vote in any shareholder vote on the ASX-SGX proposal. Temasek is in effect a non-voting trustee for the SEL shares in the SGX, and plays no part in the SGX offer for the ASX.”
Read the Full Letter: Temasek Holdings
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