Temasek Review agrees to sell its domain name for US$1.00

PRESS RELEASE

A preliminary agreement has been reached between the editors of Temasek Review and a non-Singaporean businesswoman on the sale of our domain, temasekreview.com on 23rd October 2010.

About a week ago, when our editorial team first heard about the “rumors” of Temasek Holdings’ interest in our site, we already suspected that Temasek Holdings would never contact us professionally with their “concerns” and would resort to “underhand” means to “rob” us of our domain name, banking on the fact that our editors will not be willing to reveal ourselves fighting the case. We then immediately contacted our host to discreetly source for a buyer for our domain name, which they did.

This “suspicion” has now been reasonably confirmed by Temasek Holdings’ constant refusal to contact us directly and the latest “spins” by many local papers.

Although we have been adequately advised by lawyers in Panama and the US that we have a strong case before the ICANN, we are not willing to waste precious time and resources which should be put to good use. We are also not prepared to reveal our identities to contest the “robbing” of our domain name.

We are of the opinion that the domain itself is worthless and Temasek Review owes it success to NOT the editorial team or the Domain Name but to the authors, contributors and readers.  Temasek Review’s future name, be it named Temasek Revealed, Temasek Unrevealed or Temasek Rejected is irrelevant as long as our readers believes in our dedication and ability to live up to our promise of providing a free and independent platform for Singaporeans without a voice.

We are also concerned with the various smear campaign initiated against Dr. Joseph Ong to “compel” us to surrender our legally registered domain name and the goodwill that comes with it. The fact that Dr. Joseph Ong is unfortunately caught in the crossfire between Temasek Holdings and Temasek Review is also one of the main reasons why we decided to sell off our domain name, we felt that it is unfair to the doctor, a fellow Singaporean to have to suffer because of us.

The following are key points agreed upon with our buyer:

1. The purchase price for the domain be agreed at a token sum of US$1.00 and buyer agrees to a further payment for goodwill, the equivalent of 12 months’ dedicated server lease with our present host (paid directly to our host).

2. The buyer agrees to allow us to (unconditionally) continue the use of the domain name for up to 90 days upon the completion of the transfer of the domain name ownership so that we can properly and adequately inform our readers of our new domain name. During the transitioning period of 90 days, the buyer will have no say whatsoever in the running of our site.

3. That both buyer and seller agree to engage the service of our present host to complete the transfer of the domain name ownership, who is also the sponsoring registrar of our domain name. The ownership transfer for the domain is expected to be completed within 7 days.

4.  That the identity of both buyer and seller be kept strictly confidential, before and after the sale.

For the record, we have also informed the buyer that there is an EXTREMELY HIGH possibility that Temasek Holdings (or its subsidiaries) may try to “rob” her of her newly acquired domain name and she has assured us that she will defend the “robbing” of the domain name to the best of her ability.

This is also one of the main reasons why we decided to sell her the domain name although we do have other offers, some offering high as US$30,000 for a once-off. (We would like to see Temasek Holdings argue their case with both parties represented).

We are glad that we can put the issue of site / domain name behind us and move on to concerntrate on the larger and important issues at hand. Temasek Review (or whatever it will be called after the sale) will continue to champion the rights of the people at all cost for one and ONLY one reason:

BECAUSE WE ARE SINGAPOREANS

.

Amanda Tan

for Temasek Review

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