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Recently, I read with some amount of sympathy about the retail investors who lost money investing in Hyflux perpetual securities. For some of them, they lost six-figure sums and hard-earned money meant for their retirement.

For one particular couple who lost over $100,000, The Straits Times reported that the reason why they decided to invest in the ill-fated perpetuals was because, Temasek had invested in Hyflux itself. This prompted the national investment fund to release a statement saying that it had