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Ministry of Finance (MOF)
Parliamentary Replies

Temasek Holdings' Influence on SIA Over Its Practice of Fuel Hedging

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GIC & Temasek Holdings

2 November 2020

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Parliamentary Question by Mr Leon Perera: 

To ask the Deputy Prime Minister and Minister for Finance whether the Government will seek to use its influence as the shareholder of Temasek Holdings to require that SIA reviews its practice of fuel hedging. 

Parliamentary Reply by Deputy Prime Minister, and Minister for Finance, Mr Heng Swee Keat: 

We have discussed the relationship between the Government and its investment entities many times in this House. Ms Sylvia Lim had a similar question earlier in October on whether the Government will use its shareholder influence to accomplish other objectives. 

Our answer remains unchanged. The Government maintains an arm’s-length relationship with its investment entities. We do not direct or influence their commercial or operational decisions. This principle applies likewise to their portfolio companies.

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