Singapore's Temasek Holdings president quits

The president of Singapore's Temasek Holdings has stepped down for personal reasons, a spokesman for the state-linked investment firm said Wednesday. "Mr Hsieh Fu Hua has decided to step down from his executive role as president to make room for personal priorities," Temasek spokesman Jeffrey Fang said in a statement. However, Hsieh "will continue with his non-executive responsibility as a Temasek Board member as well as Chairman of Fullerton Fund Management Company Ltd, ST Asset Management Ltd and the Stewardship and Corporate Governance Centre," the statement added. Temasek Holdings, one of two Singapore state investment firms, had a portfolio worth Sg$193 billion ($148 billion) for the financial year ended March.