Temasek Holdings

Temasek Holdings is an Asia investment house owned by the funded by the Singapore government's ministry of finance. It has a staffing of over 300 personnel, and manages a portfolio of SGD$185 billion, weighted towards Singapore and Asia.1

Temasek opened its books after 2005, from the report, the various Temasek holdings held one-third of Singapore's stock market capitalization between them.

SUMMARY

Website http://www.temasekholdings.com.sg/

COMPANY OWNERSHIP

  • Singtel
  • SingPower
  • S’pore Press Holdings
  • SMRT
  • SBS Transit w

CONTROVERSIES

There are a few controversial issues surround Temasek Holdings - the company is cast negatively by making profits out of Singaporeans in hard times2, issues about it's transparency [ citation required ]

BAD INVESTMENTS

Company: ABC Childcare
Acquired: May 2007.
Costs: A$401.5m (A$7.30/share) for 12% Stake, subsequently increased to 14.7%.
ABC Childcare goes into receivership.

March 2008: NOT A SOVERIGN WEALTH FUND

The company claimed in 2008 that it is not a sovereign wealth fund, with its spokesman saying the company "has to sell assets to raise cash for new investments and doesn't require the government to give approvals"3

NEWS

  • November 7, 2008 - Temasek's Aussie investment goes under4 - Temasek Holdings investment Down Under has gone under - a victim not just of the credit crunch but also dubious management - Childcare operator ABC Learning Centres goes into receivership.
  • October 18, 2008 - Temasek hires Sipahimalani as MD of investment5 - He is firm's second hire from Morgan Stanley since August. Temasek Holdings Pte said that it hired Rohit Sipahimalani as managing director of investment.
  • October 8, 2008 - Temasek goes ahead with sale of PowerSeraya6 - Strong interest from potential bidders; pre-arranged finance package expected. Despite the latest shake- up in global financial markets, Temasek Holdings yesterday said it was launching the sale of PowerSeraya following strong interest from potential bidders.

REFERENCES

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