World’s Most Powerful Women
Thursday, 20 August, 2009 4:43 PM
To:
readers@forbes.com
Dear Forbes,
I refer to your article on World’s Most Powerful Women.
I am especially disturbed by Forbes’s ranking of Mdm Ho Ching CEO of Temasek Holdings, Singapore at no. 5.
I understand that the criteria is based not on popularity but on the management of countries or big companies. I also understand that the rankings are based on press visibility and size of country/company.
It is true that Temasek Holdings is a large company that has a portfolio of approximately US$135 billion. However the losses that Mdm Ho incurred in from March to November 2008 was almost US$40 billion http://online.wsj.com/article/SB124350003544761935.html
And that is just what the public is told. The actual figure may even be more as it is a known fact that Temasek Holdings is a non-transparent entity. There is absolutely no accountability to the public. http://multimedia.asiaone.com/Multimedia/Vodcast/News/Story/A1Multimedia20090730-7422.html
Even the reason for the sudden change in leadership (the exit of Charles Goodyear) cannot and will not be explained to the public.
http://www.themalaysianinsider.com.my/index.php/business/35486-temaseks-goodyear-left-without-a-golden-handshake
Let’s also not forget the controversial purchase of Shin Corp run by former PM Thaksin. That transaction was by no means a small contributor to the unrest in Thailand and the eventual ousting of Mr. Thaksin.
As to press visibility, the world must understand that Singapore is not a democratic society. My country is run by an authoritarian regime under Lee Kuan Yew who although is 86, is still the man in control of the city-state. I’m sure Forbes knows that Mdm Ho is the wife of his prime minister-son, Hsien Loong
The media, judiciary, law enforcement and all public institutions are controlled by the ruling-party, if not by Lee senior himself.
Singapore’s media is ranked 144 out of 173 countries by Reporters Without Borders in 2008.http://www.rsf.org/en-classement794-2008.html The Chairman of the Singapore Press Holdings is none other than the ruling party stalwart, Tony Tan who is also our Deputy Prime Minister. All press coverage — print, telecast and broadcast — is controlled by the State, and by extension Mdm Ho Ching’s husband and father-in-law. How can then press coverage in this case be a fair assessment?
Non-local media such as Asian Wall Street Journal and Far Eastern Economic Review were fined for contempt of court and sued for defamation respectively
http://www.reuters.com/article/marketsNews/idUSSIN20311620080822
I am confident that Forbes had done thorough research on each of these women on the Most Powerful list. However, I am dismayed that Forbes could rank someone with the background and track record like Mdm Ho Ching 5th on the list.
Sincerely,
Jaslyn Go
Singapore
August 23rd, 2009 at 12:11 am
Jaslyn, I am very impressed that you took the trouble to write in to Forbes to dispute the ranking.
You are really one who doesn’t just talk, but acts on it. Well done!
I was joking in the SDP website that HC is ranked as powerful because she has the “power” to lose more of our money. You can’t dispute that power…. because she has already done it, and she is back for more (losses).
Hope you don’t have as much money stuck in CPF as some of us.
August 23rd, 2009 at 1:33 am
Hi BryanT..
Thanks for your surprise visit to my humble blog..
Yes, I believe in exercising my rights to speak up on something I feel strongly against..
As a Singaporean who has been working for more than 20 years..I do have quite a substantial amount of money stuck in CPF, of course, not as much as Lim Swee Say who feel rich whenever he see his monthly CPF statement (in actual fact, CPF statement is send half yearly)..
For a lesser mortal like me, that money is alot and it is my hard earned money..
August 23rd, 2009 at 10:39 pm
Jaslyn, ya, I think the SDP should have included Lim Swee Say’s quote about his CPF account in the recent article “Our ministers say the darndest things”. Together with Lim Hng Kiang’s about skipping a trip to the hairdresser in order to do breast-examination, or something like that.
BTW, although my money is “stuck” in the CPF, the way to go around it is to invest them. I have used my CPF to pay for my house and invested the balance in unit trusts. In that way, it does not feel so “stuck” with the paltry interest rates. Don’t you do the same thing?
August 24th, 2009 at 2:32 pm
Dear BryanT,
Here it is, from yoursdp.org:
http://yoursdp.org/index.php/perspective/political-hors-doeuvre/1734-feeling-rich-over-cpf
August 24th, 2009 at 2:38 pm
Jaslyn, take note. Is this the BryanT who commented on this? http://yoursdp.org/index.php/news/singapore/2686-sdp-writes-to-pap-for-online-debate
August 24th, 2009 at 2:42 pm
And this.
http://yoursdp.org/index.php/news/singapore/2677-burma-issue-pap-devoid-of-sense-of-right-and-wrong
BryanT sure knows how to bring some actions to the comments section. all the best.
I hope Forbes’ll be able to discern the truths.
August 24th, 2009 at 4:05 pm
We Singaporeans are proud of Ho Ching,the ranking should be 5th from the bottom last!! Moe Gan Thai !!!
August 24th, 2009 at 4:59 pm
will there be another count down at hong lim park for 2010? sorry i don’t know here else to leave a question like that.
August 25th, 2009 at 12:02 am
Jaslyn,
Quite ironically that the reasons that you argue why HoJinx is undeserved of the accolade are the very same reasons why she is considered one of the most powerful women in the world !
If I am Forbes, I will have given her number #1 spot just from your reasons.
But then if I am Forbes, the title will be more succinct and be called “World Most Powerful Dumb And InCompetent Women”
August 25th, 2009 at 6:37 am
So did Forbes reply?
August 25th, 2009 at 9:06 am
Jaslyn, looks like I have I have raised a ruckus on your peaceful website – my apologies.
Thanks KukuMalu and Kaypoh for the links.
PS. KukuMalu, I think we shall leave this peaceful website alone and “settle” over at yourSDP (…. rolling up sleeves and sharping my finger-tips….haha)
August 29th, 2009 at 11:57 am
[...] Moofti Speaks: Temasek and the Asian Wall Street Journal [Thanks Imran] – Jaslyn Go’s Blog: My Letter to Forbes on World Most Powerful Women – TOC: Ministry of Finance replies to WSJ article – Blowin’ In The Wind: Temasek’s [...]
August 31st, 2009 at 3:27 pm
Thank you for the insightful blogpost. The Singapore Democrats have featured your post in our blogs of the week section – http://yoursdp.org/index.php/news/blogs-of-the-week
September 4th, 2009 at 2:57 am
Jaslyn, I hope your case is settled soon. I think you can be a good MP, better than Dr Ammie Cold. And that Gan Kim Yong is really turning to be quite cocky in meet-the-people’s sessions.
They have no competition. All walkover MPs. Not answerable to the people. Yet every single item we buy; the GST contributes to their millionaire salary.
Recently, the town council reminded my family thrice in a day to put up the Singapore flag in August.
-_-”
September 4th, 2009 at 7:26 pm
Hi Stanley..
Thanks for your compliments that I humbly do not deserve..
Alot of our MPs, especially the younger ones, are not tested but got in through walkover, how many can stand up to questioning without help from the fellows GRC MPs?
If you notice, even during their walkabout in their constituency, they are always surrounded by many people, which I think basically is because, they won’t be able to handle 1 to 1 debating from their residents..
I guess my RC here has given up on me / or I was blacklisted..they don’t even bother to knock on my door…
September 5th, 2009 at 11:39 pm
IF THERE IS A NEXT GE I HOPE GAN KIM YONG GET KICK HIS ASS OUT OF CCK AND BE BACK TO NORMAL
I HOPE I GOT A CHANCE TO KICK 
STUPID ASS O 
September 7th, 2009 at 5:04 pm
She is the most powerful WIFE of a COUNTRY’S LEADER and the 5th most powerful Woman with the credit of having lost the biggest amount of citizens money in the world.
That is her achievement.
September 7th, 2009 at 5:06 pm
Not only Gan is useless, Mah also useless.Make the price of HDB like private housing.Where is the old HDB which is for the poor people ?? If you put a dog and a pap candidate, I will vote for the dog !!!!
September 10th, 2009 at 1:40 pm
“While BryanT has made many other comments, The Secret Political Blog does not see a need to address them as they are largely superfluous (to use BryanT’s own words).”
http://secretpoliticalblog.blogspot.com/2009/09/chee-soon-juan-charged-for-speaking-in.html
May 13th, 2010 at 4:15 pm
What sour grapes you are! Ho Ching is a success but not you, so there is no need to write in to just add to the numbers of the green eye peas.
May 13th, 2010 at 4:19 pm
Reporters without Borders?? you rather believe their subjective ranking and rebut our own mainstream media?
Those pple are as disillusioned as you are and need a place to rant. I see where you click now.
May 13th, 2010 at 4:20 pm
what do you know about walkabouts? the people surrounding the MP are taking down notes to improve residents’ lives and some are also reps from the govt agencies to ans residents’ queries immediately. residents love that immediate attention to their problems. i bet when the residents query you, you are as clueless if not half as clueless as them. this is something the opposition must catch up or forever smell the smoke behind the ruling party.
you dun dare to open your door becos you just cannot face the reality that the ruling party is closer to the ground than you think. go hide under the blanket with that white furball of yours.
May 13th, 2010 at 4:20 pm
on a positive note, good blog. it is like reading the diary of a girl reaching puberty.
ok, that’s all. you can delete all my negative posts after your moderation.