Temasek

SINGAPORE — Last Tuesday (7 Feb 2023), Non-constituency Member of Parliament Leong Mun Wai asked the government with regard to the financial losses suffered ...

However, Mr Chee said that EDBI and Temasek do recognise the inherent risks of investing in startups and do take steps to mitigate these risks. The investigators did not identify whether there were links between the Zilingo payments and the CEO. In addition to questions about Zilingo’s accounting practices, it was found that payments to several service providers of more than US$7 million were quietly signed by Ms Bose without the knowledge of other senior executives. Investigators also questioned the way Zilingo had accounted for transactions and revenue. “EDBI and Temasek typically do not comment on their investments in specific companies, or the performance of these individual investments. It was found that, in fact, the company had not filed any annual financial returns since 2019.