Monday, February 9, 2009

Ho Ching's departure - timing is everything

There is a dearth of political humour, so a site like My Sketchbook, showcasing political cartoons can be quite appealing.

The above one about Ho Ching's departure from Temasek Holdings play on a commonly held view. But I think it is probably wrong, and quite unfair. I can nonetheless see how that perception can be perpetuated given the 'disasterous' investments Temasek has made in recent times.

The truth is probably much more mundane, in that Ho Ching's position in Temasek has been quite an embarassment for Temasek as it goes about on its business as a sovereign wealth fund. I think it has become increasingly difficult for her in Temasek, so something had to give. It was probably only a matter of time before she had to distance herself from Temasek. Unfortunately she had to depart in the depths of an extreme economic depression.

Timing is everything.

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