Stocksak: Temasek changes president and CFO in management shake-up

© Stocksak. FILE PHOTO – A Temasek logo can be seen at the annual Temasek review in Singapore on July 7, 2016. REUTERS/Edgar Su

(Stocksak – Singapore’s Temasek Holdings announced Wednesday that Tan Chong Lee, President of Temasek Holdings, will resign to assume the role of chief executive officer at 65 Equity Partners, its fund management company.

Leong Wai Leng, the chief financial officer of the investment giant, will resign after 16 years in order to lead the Singapore market team under his presidency.

It stated that Png Chin Yee, the company’s deputy chief financial officer, will replace Leong starting January 1, 2023.

The 63% exposure to Asia is the result of the state investor who owns large Asian companies such as DBS Group (OTC 🙂 and Standard Chartered. In recent days, stock markets have fallen in the face higher interest rates.

(This story has been amended to correct the name of the chief financial officer of the company to “Leong” instead of “Leng” in paragraph 3.

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