SINGAPORE — Temasek Holdings said it cut compensation for the team that recommended investing in the now-bankrupt FTX cryptocurrency exchange and for senior management, as they take 'collective accountability' for the failed investment.
SINGAPORE — Temasek Holdings said it cut compensation for the team that recommended investing in the now-bankrupt FTX cryptocurrency exchange and for senior management, as they take"collective accountability" for the failed investment.
"Although there was no misconduct by the investment team in reaching their investment recommendation, the investment team and senior management, who are ultimately responsible for investment decisions made, took collective accountability and had their compensation reduced," Temasek Chairman Lim Boon Heng said in a statement posted on Temasek's website.
Temasek had said its cost of investment in FTX was 0.09 per cent of its net portfolio value of S$403 billion as of March 31, 2022, and that it currently had no direct exposure in cryptocurrencies.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore's Temasek cuts pay for staff responsible for FTX investment(Reuters) -Singapore state investor Temasek Holdings said on Monday it had cut compensation for the team and senior management that recommended its investment in the now-bankrupt FTX cryptocurrency exchange. 'Although there was no misconduct by the investment team in reaching their investment recommendation, the investment team and senior management, who are ultimately responsible for investment decisions made, took collective accountability and had their compensation reduced,' Temasek Chairman Lim Boon Heng said in a statement posted on Temasek's website on Monday.
Read more »
Singapore's Temasek cuts pay for staff responsible for FTX investmentSINGAPORE — Singapore state investor Temasek Holdings said on Monday (May 29) it had cut compensation for the team and senior management that recommended its investment in the now-bankrupt FTX cryptocurrency exchange. 'Although there was no misconduct by the investment team in reaching their investment r
Read more »
Singapore's Temasek cuts compensation for staff responsible for FTX investmentSINGAPORE — Singapore state investor Temasek Holdings said on Monday (May 29) it had cut compensation for the team that recommended its investment in the now-bankrupt FTX cryptocurrency exchange, as well as for its senior management team. The move comes around six months after Temasek initiated an i
Read more »
Temasek cuts compensation of senior management, investment team over failed investment in FTXSINGAPORE: Temasek's investment team and senior management 'took collective accountability and had their compensation reduced' after the firm's failed investment in cryptocurrency company
Read more »
Chinese airline apologises after ground staff in Singapore calls passenger a 'dog' - Singapore NewsIn the video footage, the staff member is heard saying to the passenger, 'If you want to be a dog, then I can treat you as a dog.'
Read more »
Lawrence Wong on US-China rivalry: Singapore does not choose countries, we chose principles - Singapore News“... one key principle is that of territorial integrity and sovereignty, as well as the freedom for countries not to be attacked by others as enshrined in the United Nations Charter,” he added
Read more »