Impact of Arrest of Hotel Properties Ltd's Managing Director on Temasek Holdings' Investment in Real Estate Assets of Singapore Press Holdings

Mr Zhulkarnain Abdul Rahim asked the Deputy Prime Minister and Minister for Finance in view of the SGX announcement dated 14 July 2023 by Hotel Properties Limited (HPL) on the notice of arrest given to its Managing Director by the Corrupt Practices Investigation Bureau (CPIB), whether there is any impact on Temasek Holdings’ investment in the real estate assets of Singapore Press Holdings in March 2022 through a consortium with HPL.

Mr Lawrence Wong: As the CPIB investigations are ongoing, it would not be appropriate to comment on any matter related to the arrest of the Managing Director of Hotel Properties Limited.

Separately, the Government does not typically comment on Temasek’s individual investments or those of its portfolio companies. There is a public statement by the consortium, Cuscaden Peak Pte Ltd, which states that the situation is not expected to impact the business and operations of the Cuscaden Peak Group. Based on public information, this includes the SPH assets. Members could refer to that statement for additional details.