MPs to debate Temasek’s funding in FTX, repealing S377A and amending the Structure to guard definition of marriage

SINGAPORE: Temasek’s funding in collapsed cryptocurrency alternate FTX will likely be mentioned on the subsequent Parliament sitting, which begins on Monday (Nov 28).

Earlier this month, the state funding agency mentioned it might write down its US$275 million investment in FTX, regardless of the result of the cryptocurrency alternate’s chapter safety submitting.

Greater than 15 questions have been raised by Members of Parliament (MPs) about Temasek’s investments and about FTX’s collapse.

MPs will even debate the Invoice to repeal Part 377A of the Penal Code, which criminalises intercourse between males, in addition to the Invoice to amend the Structure to guard the definition of marriage.

TEMASEK’S INVESTMENTS

MPs from the opposition Staff’ Social gathering requested if the Authorities tracks the extent of investments by Temasek and Singapore’s sovereign wealth fund GIC.

MP Jamus Lim (WP-Sengkang) mentioned that in mild of the Financial Authority of Singapore’s (MAS) proposed measures to cut back cryptocurrency buying and selling dangers, whether or not comparable solutions have been made to GIC and Temasek. He additionally requested if the Finance Ministry tracks the investments of GIC and Temasek.

MP He Ting Ru (WP-Sengkang) additionally requested if there are rules or a governance framework as to the fundamental stage of due diligence by key statutory boards and authorities firms dealing with authorities belongings.

MP Leon Perera (WP-Sengkang) wished to know if the Authorities will take into account including Temasek and GIC to the audit ambit of the Auditor-Common’s Workplace and oversight by the Public Accounts Committee.

He additionally requested if the Authorities will take into account making a bipartisan standing committee to query Temasek and GIC on their efficiency, methods, and danger administration approaches, on a confidential foundation.

MP Zhulkarnain Abdul Rahim (PAP-Chua Chu Kang) requested concerning the impression of FTX’s collapse and concerning the due diligence or measures taken previous to investments in cryptocurrency buying and selling platforms.

MPs Saktiandi Supaat (PAP-Bishan-Toa Payoh) and Mariam Jaafar (PAP-Sembawang) each requested concerning the worth of Temasek’s investments in FTX and its subsidiaries.

Mr Saktiandi wished to know whether or not the Authorities has any information on the publicity of Singapore traders to FTX by way of the variety of traders and the full worth of their holdings.

Apart from questions on Temasek’s investments, MPs additionally requested concerning the impression of the collapse of FTX.