May 19, 2020

Sydney Olympic Park: A Suburb After the Games

Business
Australia
Sydney
construction
Bizclik Editor
2 min
 Sydney Olympic Park: A Suburb After the Games

The host city of the Olympic Games spends nearly seven years prepping for a worldwide sporting event that lasts only a few weeks, but often leaves a lasting impression on the city.

At times, this impression is a lacklustre one. Many structures built exclusively for the Olympic Games are abandoned once the torch is extinguished, wasting the billions of dollars that went into the planning and manufacturing of the venues.

Athens is a prime example: after bringing the Olympics back to their origin in 2004, a vast majority of its stadiums, pools and other structures now stand empty and cost an estimated £500 million (AU$800 million) annually to maintain. That event was widely considered a failure on both an Olympic and an economic scale.

London, the host of this year’s Games beginning in just a couple weeks, have been making many a conscious effort to produce an event that will leave a positive ‘legacy’ on the city.

SEE RELATED STORIES FROM THE WDM CONTENT NETWORK:

Read the March issue of Business Review Australia

In the case of Sydney, the 2000 Olympic Games host, the Olympic Park has been transformed into a functioning suburb bursting with business and residential opportunities.

“Rather than the post-Olympics ‘hangover’ some doomsayers predicted, Sydney Olympic Park has gone from strength to strength, and has developed into a sophisticated commercial, retail, medical and education centre,” said Sue Ballesty, the marketing manager of Australia Towers, in a media release. “The influx of permanent residents has made it a complete suburb.”

Currently, Sydney Olympic Park features 130 businesses (employing approximately 1,300 staff members); six hotels; 32 restaurants, cafes, bars and retailers; entertainment facilities; and a medical and education campus.

With plans for more residences to be built within the next couple years and beyond, the suburb is expected to swell to a population of about 14,000 by 2030.

“Finally Sydney Olympic Park has a heart,” said Ms Ballesty. “There is now a real sense of community here, and the lifestyle just keeps getting better. No other suburb in Australia has received the beautification, facilities and infrastructure that we have.”

Share article

Jun 7, 2021

Business Chief Legend: Ho Ching, CEO of Temasek

hoching
legend
singapore
Temasek
3 min
Singaporean Ho Ching created the largest listed defence engineering company in Asia, before leading Singapore’s sovereign wealth fund to global success

Ask Singaporeans who Ho Ching is, and the majority will answer the ‘wife of Prime Minister Lee Hsien Loong’. And that’s certainly true. However, she’s also the CEO of Temasek Holdings, Singapore’s sovereign wealth fund, and one of the world’s largest investment companies.

Well, she is until October 1, 2021, as she recently announced she would be retiring following 16 years as CEO of the investment giant.

Since taking the reins in 2004, two years after joining Temasek as Executive Director, Ho has gradually transformed what was an investment firm wholly owned by Singapore’s Government into an active investor worldwide, splashing out on sectors like life sciences and tech, expanding its physical footprint with 11 offices worldwide (from London to Mumbai to San Francisco) and delivering growth of US$120 billion between 2010-2020.

Described by Temasek chairman Lim Boon Heng as having taken “bold steps to open new pathways in finding the character of the organisations”, Ho is credited with building Temasek’s international portfolio, with China recently surpassing Singapore for the first time.

As global a footprint as Ho may have however, she has her feet firmly planted on Singapore soil and is committed to this tiny city-state where she was not only educated (excluding a year at Stanford) but has remained throughout her long and illustrious career – first as an engineer at the Ministry of Defence in 1976, where she met her husband, and most notably as CEO of Singapore Technologies, where she spent a decade, and where she is credited with repositioning and growing the group into the largest listed defence engineering company in Asia.

It’s little wonder Ho has featured on Forbes’ annual World’s Most Powerful Women list for the past 16 years, in 2007 as the third most powerful woman in business outside the US, and in 2020 at #30 worldwide.

But it’s not all business. Ho has a strong track record in Singapore public service, serving as chairman of the Singapore Institute of Standards and Industrial Research and as deputy chairman of the Economic Development Board; and is a committed philanthropist with a focus on learning difficulties and healthcare.

As the pandemic kicked off, she not only led active investments in technology and life sciences, with German COVID-19 vaccine developer BioNTech among the most recent additions to Temasek’s portfolio, but through the Temasek Foundation – the firm’s philanthropic arm which supports vulnerable groups close to Ho’s heart, handed out hand sanitiser and face masks.

So, you would be forgiven for thinking that at age 68, Ho might simply relax. But in March 2021, just as she announced her retirement from Temasek, Ho joined the Board of Directors of Wellcome Leap, a US-based non-profit organisation that’s dedicated to accelerating innovations in global health. Not ready to put her firmly grounded feet up yet it seems.

 

Share article