GIC, Temasek & MAS 01 (May 08 - Aug 09)

Re: GIC, Temasek & MAS (May 08 - Aug 09)

Postby winston » Wed Aug 26, 2009 7:20 am

Temasek in image shift

Singapore state investor Temasek has played down its links to government policy or strategic interests in a revised charter as it eyes more overseas assets from banks to infrastructure.

Temasek, one of the world's biggest wealth funds whose sole shareholder is the Singapore government, still has controlling stakes in half the republic's blue- chip firms, but it has increased its exposure elsewhere.

Sovereign wealth funds have come under greater scrutiny from Western governments concerned that their investments may be politically motivated.

Chief executive Ho Ching said Temasek will still consider taking stakes in Western financials, despite estimated losses of more than US$4 billion (HK$31.2 billion) after selling off its stakes in Bank of America and Barclays.

The new charter describes Temasek as an investment firm managed on commercial principles, dropping a reference to its role to improve Singapore's economic base. Set up in 1974 to hold investments in state firms, it said it now aims to create long- term value for shareholder. REUTERS
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Re: GIC, Temasek & MAS (May 08 - Aug 09)

Postby kennynah » Wed Aug 26, 2009 9:48 am

Chief executive Ho Ching said Temasek will still consider taking stakes in Western financials, despite estimated losses of more than US$4 billion (HK$31.2 billion) after selling off its stakes in Bank of America and Barclays. ..


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Re: GIC, Temasek & MAS (May 08 - Aug 09)

Postby -dol- » Wed Aug 26, 2009 12:27 pm

Think GIC still have stake in that zombie bank Citigroup - up to the hook with at least US$300b (rumors say US$1t) Fed guarantees. I wonder if they are trying to redeem themselves by trying to push their luck and perhaps get out at US$8...

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