Temasek companies set a standard for other businesses

REMARKS made by Temasek Holdings' chairman Lim Boon Heng to the chairs of the various portfolio companies were released earlier this week. He told them in no uncertain terms that in markets where practices are questionable and compromising integrity is required to win business or contracts, there is a bright red line that the companies should not cross.

His remarks were notable for spelling out clearly Temasek's stance on corruption, principles of good governance and integrity in business dealings.

Since news broke in December of the resolution involving a unit of Keppel Corp and the US Department of Justice over bribes paid by a consultant to win contracts, Temasek has remained in the background, perhaps to let the dust settle on the matter before publicly commenting, and nothing should have been read into the seeming silence. But it is useful, for public assurance and guidance, that Temasek now reiterates its guiding ethos and values - principles that are spelt out in its charter.