Thursday, 18 October 2007

Financial Times apologises to MM Lee, PM Lee and Ms Ho Ching


SINGAPORE: The Financial Times (FT) has apologised to Prime Minister Lee Hsien Loong, Minister Mentor Lee Kuan Yew and Temasek Holdings CEO, Ho Ching, over an article it published on 29 September entitled "Sovereign funds try to put on an acceptable face".

FT said it recognises that the article had given the impression that MM Lee was instrumental in securing the appointment of his son, Mr Lee Hsien Loong, as prime minister.

It also said the article had implied that the prime minister had helped his wife, Ho Ching, secure the top position at investment company Temasek Holdings, and that she, in turn, helped her brother-in-law Lee Hsien Yang replace former DBS Bank CEO, Jackson Tai.

In its published apology, the FT admitted and acknowledged that these allegations were false and completely without foundation.

It has unreservedly apologised to the prime minister, the minister mentor and Ms Ho for the distress and embarrassment caused by these allegations.

The paper also said it would not make any further allegations and would pay, by way of compensation, the costs incurred by them in connection with this matter.

The article has been taken out from the website.

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