Singapore's state investor Temasek Holdings has called on the companies it has stakes in to not cross the "bright red lines" of corruption.
The Chairman of Temasek Lim Boon Heng said in a speech during a roundtable event that "in markets where practices are questionable and compromising integrity is required to win business or contracts, we have to be very clear" on issues of ethics and integrity.
Earlier this year, one of its major portfolio companies Keppel Offshore & Marine was been slapped with a staggering US$422 million fine in an international corruption scandal. Without naming the specific case and company, Lim said that "what happened recently was a shock, not just to the company concerned, but it really dents the reputation of Singapore and all the other Temasek companies."
Lim also added that "it takes courage to walk away from business opportunities, but it is more important to maintain and protect the reputation of your company and our nation."
