Temasek, portfolio firms need to make commercial decisions without fear of politicisation: Shanmugam

Senior Minister K. Shanmugam warned that if corporate boards become overly cautious to avoid politicisation, it will compromise investment returns in the long run.

Listen SINGAPORE – Temasek portfolio companies must not fear making investment decisions because of political pressure or politically motivated criticism, said Senior Minister and Coordinating Minister for National Security K. Shanmugam on Sept 5.

Addressing recent racist comments surrounding Singapore Airlines’ (SIA) investment in Air India, he warned that if corporate boards become overly cautious to avoid politicisation, it will compromise investment returns in the long run and ultimately disadvantage Singaporeans.

The news of Air India seeking US$1.5 billion in fresh equity from its shareholders, after posting a record loss of US$2 billion (S$2.5 billion) in the last financial year, sparked a recent wave of racist comments online in Singapore.