Temasek shortens the salaries of managers who have recommended an investment in FTX (report)

Aktualisiert:

Von Krypto News Österreich

Temasek Holdings, ein privates Unternehmen, dessen einziger Anteilseigner die Regierung Singapurs ist und dessen einziger Zweck darin besteht, die Investitionen dieser Regierung zu überwachen, war für die zweitgrößte Investition in FTX verantwortlich. Schlechtes Urteilsvermögen Vor dem Zusammenbruch von FTX hatte Temaseks Investition einen Wert von etwa 275 Millionen US-Dollar, was 0,09 % des gesamten Investitionsportfolios des Unternehmens im Wert von etwa 304 Milliarden US-Dollar entspricht. Nach dem Zusammenbruch der Plattform – der dazu führte, dass Temasek seine Investition vollständig abschrieb – führte Temasek Holdings eine interne Untersuchung der Angelegenheit durch, um eine weitere Schädigung seines Rufs zu vermeiden. Temasek war …
Temasek Holdings, a private company whose only shareholder is the Singapore government and whose only purpose is to monitor the investments of this government, was responsible for the second largest investment in FTX. Temaseks investment had a value of around $ 275 million, which corresponds to $ 0.09 % of the company's total investment portfolio worth around $ 304 billion. After the collapse of the platform - which caused Temasek to completely write down his investment - Temasek Holdings carried out an internal examination of the matter in order to avoid further damage to his reputation. Temasek was ... (Symbolbild/KNAT)

Temasek Holdings, a private company whose only shareholder is the Singapore government and whose only purpose is to monitor the investments of this government, was responsible for the second largest investment in FTX.

bad judgment

Before the collapse of FTX, Temaseks investment had a value of around $ 275 million, which corresponds to $ 0.09 % of the company's total investment portfolio worth around $ 304 billion.

After the collapse of the platform - which led to Temasek fully offset his investment - Temasek Holdings carried out an internal examination of the matter to avoid further damage to his reputation.

Temasek was not the only investment company that wrote down her investment, even though it was the most important investment that was deleted. The other companies that did the same thing include Sequoia Capital, Softbank and the Ontario Teachers' Pension Plan.

Despite the depreciation, FTX currently owes around $ 52 billion, $ 44 billion of them are recently submitted by the IRS.

5/some of the following points #ftx The institutional investors of having announced that they will write off their FTX investments to $ 0:

• TEMASEK Holdings-$ 275 million
• Sequoia Capital-USD 213.5 million
• Softbank-$ 100 million
• Pension plan for teachers in Ontario-$ 95 million

-Coingecko (@Coingecko) 3. December 2022

The internal autopsy of Temasek has now been completed. The company's internal revision service stated that no misconduct was found on its side, although the examiners emphasized that important information that should have been made available to the investors - including Temasek - had been kept silent about Temasek ftx.

Nevertheless, the failed investment has hurt the reputation of Temasek Holdings, said CEO Lin Boon Heng.

"As claimed by the public prosecutor and admitted by important managers at FTX and its subsidiaries, there was fraudulent behavior that was deliberately hidden from investors, including Temasek. We are disappointed with the result of our investment and the negative effects on our reputation."

The investment team has taken on responsibility

Since the decision to invest in FTX was made in good faith-and the DUE diligence test by Temaseks was also carried out strictly and professionally-no internal sanctions were imposed.

However, according to reports, the investment team, which gave the green light for the investment, and the management, which it approved, took over the full responsibility for the company to fail. As a result, those responsible were reduced the annual remuneration.

"The investment team and the management, which are ultimately responsible for the investment decisions made, took over the collective responsibility and had their remuneration shortened."

The investment company did not want to comment on whether the premiums or salaries of the employees were reduced. Temasek also kept covered with the exact amount of reducing the remuneration from the salary list of his employees.

.