FT tender apology to Singapore PM, father, wife

Singapore, Oct 17 (UNI) London's Financial Times has 'unreservedly apologised' to Singapore Prime Minister Lee Hsien Loong, his father Lee Kuan Yew and his wife Ho Ching, who is also Temasek Holdings chief executive, for publishing an article that alleged nepotistic motives in their appointment to key positions here.

An article headlined 'Sovereign funds try to put on an acceptable face' was carried in the international business newspaper's September 29 edition. It was also freely available on its website.

In its apology, the FT said, ''We recognise that the article meant or was understood to mean: that Minister Mentor Lee Kuan Yew secured, or was instrumental in securing, the appointment of his son, Mr Lee Hsien Loong, as prime minister for nepotistic motives; that Prime Minister Lee Hsien Loong secured, or was instrumental in securing, the appointment of his wife, Ms Ho Ching, as the chief executive of Temasek Holdings (Private) Limited for nepotistic motives; and that Ms Ho Ching is promoting her brother-in-law Lee Hsien Yang's interests by securing or helping to secure his appointment as Mr Jackson Tai's replacement at DBS Bank for nepotistic motives,'' the Straits Times reported.

The business newspaper further admitted and acknowledged that the allegations were false and completely without foundation.

''We unreservedly apologise to Prime Minister Lee Hsien Loong, Minister Mentor Lee Kuan Yew and Ms Ho Ching for the distress and embarrassment caused to them by these allegations,'' it added.

The newspaper also agreed to pay undisclosed damages and costs to Prime Minister Lee, his father and wife.

UNI