2024-08-14
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She was the first lady of Singapore, and she also managed the Temasek Group and dominated the capital market. She constantly showed her true colors with extraordinary courage. She is straightforward and dares to express her opinions boldly. Even if it is a powerful country like the United States, she will post pictures on social media when she doesn't like it.
She is Ho Ching, Lee Hsien Loong's wife. The media once said that Lee Hsien Loong should be most grateful to his wife because she gave him all-round support.
As the former first lady of Singapore, Ho Ching has made her name through her own efforts. She managed Temasek's assets of more than US$50 billion and invested nearly US$6 billion in 2002 to buy shares in Bank of China and China Construction Bank, becoming the largest foreign investor in China's financial industry at the time.
She has made Temasek stay ahead of the times, and has achieved sufficient returns on investment in the tiny country of Singapore, and is known as the engine of Asia Pacific. This is inseparable from Ho Ching's effective management.
As a strong woman in the workplace, Ho Ching has short hair and received systematic advanced education at Stanford University in the United States during her college years. Later, in 1985, she met and got to know Lee Hsien Loong and entered the marriage palace. They have a good relationship and get along well with each other. After marriage, they have four children.
When they got married, Lee Hsien Loong was still a prominent figure, and Ho Ching was marrying down because she had worked for Temasek for many years. When Ho Ching was appointed as the executive director of Temasek, Lee Hsien Loong was a Singapore official at the time.
Because Temasek is wholly owned by the Singapore government, Ho Ching needs to report to her husband Lee Hsien Loong, which makes Lee Hsien Loong uncomfortable and opposes her taking on this role.
But in the end, Ho Ching was considered the best candidate to manage Temasek because of her outstanding abilities and was therefore appointed. However, the reporting process was changed to report directly to Temasek Holdings Chairman Dhanabalan.
Such a small episode also reflects the state of the couple's relationship, that is, they will have conflicts due to work and life, but the way they deal with it is very commendable.
But in the end, everything is done for the public to resolve the conflict smoothly. Temasek owns assets worth about one-third of the Singapore stock market value. When Ho Ching took office, Temasek was in a crisis. The company's profit margin dropped sharply from a peak of 38% to 3%.
As the saying goes, a hero can only be shown when he is appointed in times of crisis. He Jing, who took office at this time, boldly broke the old rules, actively carried out reforms and innovations, constantly sought to adapt to the changes of the times, and improved the incentive mechanism.
Through her bold transformation, Temasek has gradually become a leader among similar companies around the world. As an official investment company, such a transformation is not easy.
After the transformation, Temasek's return on investment has been rising year by year, and it has contributed nearly ten percentage points to Singapore's GDP. While laying out the internal industries, she is also actively preparing for overseas expansion with her precise vision.
Under her leadership, Temasek has been investing in emerging developing countries, with its main investments covering major Asian countries with nearly half of the world's population. It has also established representative offices in Beijing and Mumbai based on actual needs.
Ho Ching made early and precise investments in the emerging Asian market, earning Temasek the title of the best investment company in Asia. As the company grew, she also reaped great rewards. In 2004, she was named fifth among the world's 50 most influential business women by Fortune magazine, and was also named one of the 25 most influential business leaders in Asia.
Her success story has also attracted the attention of our country. Relevant domestic people hope to increase capital and improve competitiveness by introducing strategic investors, while improving management level. They hope to emulate Temasek's model and invite Temasek to participate in domestic financial industry reform.
She is happy to see such cooperation. In the future plan of deepening cooperation with Oriental Dragon, she also scoffs at the interference that may affect her investment.
She once forwarded a group of cartoons on her social media account, expressing her dissatisfaction with the double standards of the United States. This unique personality has also made her gain countless fans in many developing countries, and her connotation has become a topic of conversation after dinner.
Of course, these are off-topic. With her husband Lee Hsien Loong stepping down, she no longer needs to pay attention to maintaining the dignity of the First Lady as before. I believe she will express her true thoughts more on social media in the future. Let us wait and see.
References
[1] Zhang Rui. He Jing: The Wonderful Life of a Global Female Prodigy [J]. Foreign Economic and Trade Practice, 2008, (01): 13-16.