Singapore's Temasek backs probe into Zilingo's accounting practices

 

This is the second investment firm that has spoken in the favour of strong governance framework days after Sequoia India, also an investor in Zilingo, spoke on the subject

Singapore state investment firm Temasek has backed an investigation into fashion technology startup Zilingo Pte's accounting practices saying it supports the company board's move.

In a strongly-worded statement, Temasek said, "We expect our portfolio companies to abide by the sound corporate governance and codes of conduct and ethics. We are, therefore, in support of the board's investigation into the complaint as a part of good governance to safeguard the interests of the company."

However, it did not elaborate on the investigation.