Chapter 1327 China joins the war

Born in Singapore in 1953, she is the wife of Singaporean Prime Minister Lee Hsien Loong and the daughter-in-law of Singapore's founding father Lee Kuan Yew. She is originally from Fujian, China and is currently the CEO of Singapore's Temasek Holdings. iil, look, kn. In 2004, the American "Fortune" magazine selected Asia's top twenty-five for the first time.

Among the most influential entrepreneurs, Ho Ching ranks first, along with Nobuyuki Idei, CEO of Sony Group, Fujio Chang, President of Japan's Toyota Motor Corporation, and Li Ka-shing, a wealthy Hong Kong businessman. Ho Ching is a very low-key person. Even when she speaks in public, she

She also rarely answers people's questions. In the eyes of people who have worked with He Jing, she is a shrewd, capable and sharp-thinking person.

Ho Ching was awarded the Singapore Presidential Scholarship in 1972, then obtained a first-class honors degree in electrical engineering from the University of Singapore, and later received a master's degree from Stanford University. In December 1955, Ho Ching, who worked as an engineer in the Ministry of Defense, married Lee Hsien Loong and became Lee Hsien Loong's first

Second wife.

Ho Ching joined Singapore Technology in 1977, a defense contract subcontractor owned by Temasek Holdings. Later, she gradually rose to the position of CEO and president of the company. She took charge of Temasek Holdings in 2007 and transformed it into a company with business scope involving telecommunications.

A comprehensive enterprise in the engineering, logistics and aviation industries.

Temasek Holdings is Singapore's most important official investment holding company, currently in charge of tens of billions of dollars in Singapore's assets around the world. Temasek Holdings was founded in 1974, and its large-scale companies include Singapore Airlines, Singtel, and the Development Bank of Singapore.

Even the world-famous Singapore Zoo, etc.

The American "Fortune" magazine announced its annual ranking of strong business women. Among the top 50 strong women in the world, 6 are Chinese. They are Ho Jing, CEO of Singapore's Temasek Holdings, Zhang Yin, chairman of Nine Dragons Paper, and Haier

Group President Yang Mianmian, Huawei Technologies Chairman Sun Yafang, Shunde Group Managing Director He Chaoqiong and China Power International Chairman Li Xiaolin.

In 2002, Lee Hsien Loong, who was the Minister of Finance of Singapore at the time, strongly opposed his wife Ho Ching's acceptance of

However, Ho Ching defied public opinion and accepted the invitation of Temasek Chairman Dhanabalan. After taking office, Ho Ching adopted the management strategy of "governing by doing nothing". The group's investment income rose rapidly, and the profits of all its municipal companies

The return on shareholders' investment has risen rapidly for several consecutive years. As a result, Ho Ching's name has appeared frequently in the "Fortune" rankings of powerful women. Temasek has become a behemoth with strong financial strength and a powerful influence in the world.

Flowers never last a hundred days. Since 2007, Temasek's investments in the European and American banking industries have begun to suffer heavy losses. According to Temasek's public information, it lost more than 40 billion Singapore dollars (about US dollars) in the fiscal year ending in March 2009.

Temasek Chairman Dhanabalan made an important statement, saying that Temasek would introduce a new leader. Soon, Temasek announced that Gu Zhibo, the former president of BHP Billiton, the world's largest mining group, would succeed Ho Ching as Temasek President on October 1, 2009.

When Temasek fell into an economic crisis, Ho Ching suddenly stepped down. As a state-controlled enterprise, Temasek strangely introduced a foreigner to take over Ho Ching's position. Such a management change seemed too radical and difficult to understand. But

In response to such doubts, Temasek has never given a convincing explanation. Everything is shrouded in mystery.

This doubt was confirmed just four months after the handover between the two parties began - the two parties found that their differences on some strategic issues could not be reconciled. So on January 15, 2009, Gu Zhibo will resign as a director of Temasek.

Before Gu Zhibo left, Temasek's senior management was full of confidence. They said they had spent more than a year considering the new CEO and believed that Gu Zhibo's outstanding management experience should be prudent and appropriate for Temasek.

Gu Zhibo and He Jing had made relevant in-depth discussions and preparations before the handover, and all work was actively developed in the direction of harmonious cooperation.

Without an introduction, judging from Ho Ching's simple appearance, you would not expect that she would be the helmsman of Temasek, Singapore's largest state-owned enterprise, nor would you associate her with the dazzling First Lady of Singapore.

In today's world, more and more "first ladies" from various countries are beginning to follow Hillary Clinton's lead. They are no longer willing to serve as the president's green leaf, but boldly and openly come to the front of the world stage with their special status and their unique influence.

It affects all aspects of a country and even leads the trend of the entire world.

The "First Lady" of Singapore also has fierce ambitions. When she represents Temasek at various grand occasions, when she appears on the cover of Fortune magazine with short hair, and when she argues with her husband Lee Hsien Loong verbally.

At that time, her simple appearance could not hide her sharpness, and Ho Ching was strong. In 2002, she took over as the president of Temasek amid a lot of opposition. In 2009, she made a comeback amidst doubts after a brief resignation. Ho Ching has repeatedly been in the position

in doubt, but she seemed dismissive of it.

In fact, Lee Hsien Loong's worries were clearly well-founded. In 2005, Temasek's involvement in the "IR" equity held by the family of Thai Prime Minister Thaksin Shinawatra triggered a strong backlash from the Singaporean people and almost led to Lee Hsien Loong's impeachment. However, even so, it failed to make anyone

Jing stopped, but she increased her investment. No one knew her wife better than her husband. Lee Hsien Loong's worries back then were obviously well-founded. The largest investment loss observed by the outside world was undoubtedly Temasek's investment in Bank of America bfri

Investment. From the end of 2007, it held shares in Merrill Lynch and sold them all in the first quarter of 2009. Its losses ranged from US$2.3 billion to US$4.6 billion. In the same year, Temasek made acquisitions of telecommunications and banks in Malaysia and Indonesia.

, has also encountered strong opposition from the local government. Liang Shixuan, chairman of the Singapore Financial Services Professional Association, commented: "The setback of Temasek's investment shows that there are still certain risks in international diversified investments. We cannot expect Temasek to make a lot of money, but we hope that they will

Every step we take, we should explain it to the people of Singapore." In fact, Ho Ching never left Temasek. When Ho Ching and Gu Zhibo were handing over work, Temasek always relied on Ho Ching's decision-making, even if Gu Zhibo came.

After that, Temasek was unable to weaken Ho Ching's influence on itself. Ho Ching has always been like the "Queen Mother of the West" sitting behind the curtain.

"This is similar to the Queen Mother of the West in our country." Li Cong naturally did not have any good impression of Cixi, an old lady, so he naturally had no good impression of the first lady of Singapore. This is different from China's state-owned enterprises.

The system is no different, it’s just changed in a different way, which makes everything inside more unclear.

Even after stepping into the prominent position of Temasek President, Ho Ching, who is low-key and not public, still deliberately sticks to her identity: she will not accept interviews from any reporters and will not be exposed in any media. Therefore, regarding her life experience and achievements, even Singaporean public opinion circles

Little was known about this woman at the time. The Energy Group’s Investigation Department also rated this woman very highly. It was a rare woman to be able to hold such a high position without being arrogant. If it weren’t for the fact that she was his enemy, Li Cong would have

I really want to recruit this woman into my group. Talent is absolutely the most important thing these days.

With Lee Hsien Loong's promotion to Prime Minister, Ho Ching, as the "First Lady", can no longer avoid frequent appearances in front of the media.

But it was Ho Ching himself who really pushed himself in front of the mercury lamp. Due to the ravages of the Asian financial crisis and the impact of the global economic recession after 9/11, Temasek, which Ho Ching took over, has been in decline: it has been failing shareholders for 10 consecutive years.

The return rate was only 3%, far lower than the 13% average of the Fortune 500 companies during the same period. The first step taken by Ho Ching at the beginning of his tenure was to move the company out of the towering "Temasek Tower".

Moved to an ordinary office building next to rrd street, which is far away from the city center. Although Li Cong felt that this was a show, no matter what, they succeeded. As long as they are successful, they belong to them no matter what you say.

Something happened.

One year later, in 2003, Temasek recorded a profit of S$7.4 billion, which was 30 times the profit of the previous year. The company's return rate to shareholders increased to 46%. As a result, Singapore's national economy also jumped for two consecutive years.

It has achieved a rapid growth level of more than %. So much so that some overseas public opinion said, half jokingly and half seriously, that the current Prime Minister and Finance Minister of Singapore, Lee Hsien Loong, should be most grateful to his wife.

In 2004, Ho Ching published Temasek's financial statements for the first time. Data showed that Temasek's total assets reached US$50 billion and it was the largest enterprise in Singapore. The company controlled almost all of Singapore's most important enterprises with the largest turnover and held

The share price of Singapore's stock market accounts for 47% of the entire Singapore stock market. Therefore, when this "hidden champion" surfaced, two international rating agencies, Standard & Poor's and Moody's Investments, gave it the highest credit rating of 3 and continued to use it.

So far, the highest evaluation of the energy group is not that high, mainly because Li Cong simply does not want to have any dealings with such an international review organization. In his words, I know what level I am, and I use your group.

A guy who doesn't know anything is here to tell you what to do?

In Temasek’s capital distribution map, local investment accounts for up to 75%. Accordingly, Ho Ching has repeatedly stated in public that in the next few years, Temasek will only retain one-third of its investments in Singapore, and the other third.

In the Asian market, another third will be invested in developed countries.

Asian countries have become the areas where Ho Ching has mobilized the most intensive capital investment in the past two years. “We will adjust Temasek’s asset portfolio so that it can reflect the economic growth of Singapore, ASEAN, Asia and the world in a balanced way.

"Ho Ching said this in a public speech in February 2004. If Ho Ching's plan to increase investment in Asia outside Singapore from 16% to 33% was followed two years ago, Citigroup Global Markets Singapore Research

The Ministry of Finance estimates that Temasek may spend S$24 billion within 10 years. However, the latest data shows that in the fiscal year ending in March 2007, in emerging markets in Asia alone, Temasek's investment rose from 34% of the year's total to

40%, amounting to more than S$23 billion. The accelerating investment speed shows that Ho Jing is trying to complete the capital layout in Asia in advance to buy more time for his next step of reorganizing the capital structure and organic splicing.

The rain of foreign investment not only caused Temasek's net asset portfolio to exceed US$100 billion for the first time in fiscal year 2006 as of March 31, 2007, reaching S$164 billion (approximately US$10 billion), but also made the financial industry its largest single investment.

field, the proportion of total assets has increased from 26% in 2004 to 3% currently, and it holds equity in 14 banking and financial institutions around the world. He Jing said that banks have become the core of investment strategy based on 4 investment themes: Rising

Asian economy, growing middle class, deepening competitive advantages, and rising champion companies. He Jing believes that banks are agents of the growing middle class, and occupying this important "bridgehead" of banks is tantamount to

We have obtained the right to speak in the future huge consumer market of the middle class in advance.

According to some of the latest information from Temasek, the market value of its overseas direct investment assets after 2002 has reached S$5 billion, with a compound annual return rate of 3% in five years; the total value of the enterprises invested before 2002 was S$106 billion.

The annual compound return over the past five years was 17%. Due to the strength of global markets, including Singapore, Temasek's overall shareholder return in 2006 reached S$23 billion, of which approximately S$7 billion came from direct investment outside Singapore.

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"How could such an important company like Temasek be run by someone who is not from the Lee family? Isn't there something wrong with Lee Kuan Yew's brain? If such a large amount of assets were to be taken away by Ho Ching, I think the old man Lee Kuan Yew would

I feel bad." Li Cong said after looking at the report. He didn't understand why such an important large-scale group was not in the hands of the Li family. Although the wife and son here are a family, they can only manage the assets of their small family.

Yes, it seems that it is not needed on such a large scale.

"President, we have actually investigated the Lee family in Singapore, and found out in the end that there are no business wizards in the family at all. Doesn't that old man Lee Kuan Yew know what to keep in his own hands? In fact, it is.

There was simply no one available to him, so this woman became a legend in her life. However, this legend can only be from the past. Now he will become ours. This is our group's plan to acquire dozens of Temasek companies.

Although many shares of the municipal company's plan are not for sale, we also have connections in Singapore. It can be said that Prime Minister Goh Chok Tong helped us a lot." No. 1 said with a smile,

Looking at his appearance, you can tell that you don't need to worry about Singapore's affairs. This Temasek may also be in your hands.

Goh Chok Tong was born on May 20, 1941. He studied at the historic Raffles College in Singapore in his early years, and later studied at the University of Singapore and received a first-class honors degree in economics. He is the second Prime Minister of Singapore after Lee Kuan Yew, starting in 1990

He succeeded Lee Kuan Yew as Prime Minister and served as the Secretary-General of the People's Action Party of Singapore from 1992 to January 2004. On May 14, 2011, Singapore's first and second Prime Ministers Lee Kuan Yew and Goh Chok Tong issued a joint statement, both announcing that they would not join the new government.

According to the cabinet, according to the group's information, Goh Chok Tong did not perform so well at the beginning. The reason why he could not continue to enter the cabinet was because of Lee Kuan Yew's obstruction. At that time, Lee Hsien Loong did not have the power he has now. Lee Kuan Yew took such a step.

When I step down, I also have to pull this old guy down. After all, Singapore's political scene is run by the Li family and the Wu family, but the Wu family's abilities may be a little inferior to those of the Li family.

Goh Chok Tong's father is from Yongchun County, Fujian Province. He is 1.90 meters tall, which is said to be related to his love of swimming as a child. In 1955, he studied at the famous local British school Raffles Institution and was the chairman of the Raffles Institution Student Union. In 1961, he entered the University of Singapore to study

, received a first-class honors degree in economics in 1964, and began to work in government departments in the same year. In 1966, he went to Williams College in the United States for further study, and received a master's degree in development economics. After returning to China, he worked for Singapore Neptune Shipping Company, and became the company's managing director in 1973.

.In 1976, he was recommended by the People's Action Party to run for Parliament in the Marine Parallel constituency and was elected. In 1977, he was selected into the cabinet and served as senior minister of finance. In 1979, he became a member of the Central Executive Committee of the People's Action Party. He later served as the minister of trade and industry.

Minister of Health and Minister of Defense. After Lee Kuan Yew decided to hand over power in 1990, all cabinet members voted for Goh Chok Tong to take over as Prime Minister, but Lee Kuan Yew still served as Cabinet Counselor. In December 1992, he took over as Secretary-General of the People's Action Party and led the party to win the 1997 election.

Won two general elections in 2001.

At the end of 2003, Goh Chok Tong announced that he would resign in mid-2004 and would be replaced by Deputy Prime Minister Lee Hsien Loong. Goh Chok Tong handed the stick to Lee Hsien Loong on 12 January 2004, and he himself became the State Counselor. Since Lee Hsien Loong is the son of Lee Kuan Yew, this appointment was blocked.

There were many doubts and concerns. When people from the energy group contacted the former prime minister in Singapore, they knew why Goh Chok Tong, who was at the peak of his career, gave up his position as prime minister. It was because he did not have enough power. If he had enough,

Who would give up their rights?

"What information did Mr. Wu provide us? In fact, I think such a person is as deadly an old fox as Lee Kuan Yew. You should be more careful when doing things. Such a person may accidentally kill us.

If we eat it, sometimes there may be a trap waiting for us. The relationship between Goh Chok Tong and the Li family must be clarified, and we must not be fooled by superficial things. We must know that when these old guys are lying, we still

I don't know where it is." Li Cong felt that this guy was really cooperating with him, but he had to be careful when doing things, especially with these old foxes. If he didn't pay attention a little bit, he might be beaten by them.

Swallowed.

"President, don't worry, we will do things carefully. I have already explained the Temasek matter. This is a small treasury of the Li family. Mr. Wu has told us his insider inside Temasek. I think we will

It can achieve considerable results. With the funds of the Li family in Singapore so tight, there should be no large-scale aid to India. It’s just that India is already very powerful now. With the convenience of the army, ten Pakistanis are not theirs.
To be continued...