GIC and Temasek deny pressuring MSCI to consider downgrading Indonesia

The Straits Times reports that GIC and Temasek rejected former Indonesian trade minister Muhammad Lutfi’s allegation that they pressured MSCI to consider downgrading Indonesia. GIC says its investment decisions rest on company- and asset-level fundamentals; Temasek says it never contacted MSCI to influence an exchange decision. MSCI is consulting on reclassifying Indonesia from emerging-market to standalone status and plans to announce its decision by June 30, 2027.