Temasek Holdings Pte will lead a number of Singaporean companies in investing in an industrial park in China’s Sichuan province with a Chengdu high-tech investment group, the 21st Century Business Herald reported today, citing Tang Hua, a local official.
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Indonesia’s anti-trust agency (KPPU) is seeking ways to seize assets worth 120 billion rupiah ($17.1 million) from Singapore’s Temasek Holdings (TEM.UL) over an outstanding fine of the same amount, a KPPU commissioner said on Tuesday.
The KPPU ruled in 2007 that Temasek and eight affiliates were in breach of Indonesia’s anti-monopoly laws because of holdings in two Indonesian telecom firms, and ordered Singapore’s state investor to sell the stake in one while fining the affiliates 15 billion rupiah each.
Amtek Engineering says Capital Group has increased its stake in the company from 5.52% to 6.33%, or from 30 million to 34.4 million shares. The increase by Capital Group follows the open market purchase of 2.9 million shares by Aranda Investments, a wholly-owned subsidiary of Temasek Holdings, on 2 Dec, increasing its stake in the company from 4.86% to 5.39%.
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Fullerton Financial Holdings Pte, a unit of Singapore’s Temasek Holdings Pte, bought a 15% stake in Vietnam’s Mekong Development Bank.
The purchase helped lift registered capital at the lender, based in the southern province of An Giang, to 3 trillion dong ($203.6 million) from 1 trillion dong, the Vietnamese bank said in an e-mailed statement today. The two companies also agreed on a plan that would allow Fullerton to increase the stake to 20 percent next year, it said, without giving a specific timeframe.
Fullerton Financial Holdings, a unit of Singapore sovereign fund Temasek Holdings, has bought a 15% stake in Mekong Development Bank, and plans to raise its holding to 20% next year, the Vietnamese bank said in an e-mailed statement today.
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The company, in which Singapore state investor Temasek Holdings (TEM.UL) has 14% stake, said it controls 80% of the venture, while Lababidi Group holds the remaining 20%.
“The total project cost amounts to approximately US$200 million, which is expected to be phased over three years from FY 2011 to FY 2013,” Olam said in a statement.
Commodity company Olam International (OLAM.SI) said on Friday it has entered into a joint venture to set up a US$200 million ($261.5 million)sugar refinery in Nigeria.
The company, in which Singapore state investor Temasek Holdings (TEM.UL) has 14% stake, said it controls 80% of the venture, while Lababidi Group holds the remaining 20%.
“The total project cost amounts to US$200 million, which is expected to be phased over three years from FY 2011 to FY 2013,” Olam said in a statement.
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Temasek, based in Singapore, sold almost US$6 billion of bonds since October last year. Temasek-controlled Mapletree Industrial Trust and Global Logistic Properties, GIC’s overseas logistics unit, raised $5.1 billion selling shares in October, accounting for 10% of the record initial public offerings in the Asia-Pacific region that month, according to data compiled by Bloomberg.
Temasek Holdings Pte and Government of Singapore Investment Corp. raised about US$9.9 billion ($13 billion) from international investors over the past year, selling more debt and equity than any other state investment firm.
Temasek, based in Singapore, sold almost US$6 billion of bonds since October last year. Temasek-controlled Mapletree Industrial Trust and Global Logistic Properties, GIC’s overseas logistics unit, raised $5.1 billion selling shares in October, accounting for 10% of the record initial public offerings in the Asia-Pacific region that month, according to data compiled by Bloomberg.
Singapore Telecommunications <STEL.SI>, Southeast Asia’s largest telecommunications firm, posted a lower-than-expected quarterly profit, as acqusition costs by Indian affiliate Bharti weighed, but cheered investors by raising dividends.
SingTel, 55% owned by Singapore state investor Temasek Holdings [TEM.UL], said earnings were hit by costs from Bharti Airtel’s <BRTI.BO> acquisition of the African telecom assets of Kuwaiti group Zain <ZAIN.KW> in June and investments in multimedia services in Singapore.
Singapore Telecommunications (STEL.SI), Southeast Asia’s largest telecoms firm, reported lower-than-expected quarterly profit, partly due to the cost of acquisitions by its Indian ally.
The company, 55% owned by Singapore state investor Temasek Holdings (TEM.UL), said earnings were hit by costs from Bharti Airtel’s (BRTI.BO) acquisition of the African telecom assets of Kuwaiti group Zain (ZAIN.KW) in June and investments in multimedia services in Singapore.
The airline, 55% owned by Singapore state investor Temasek Holdings (TEM.UL), has made a robust recovery in the past year, helped by strong rebound of business and premium travellers.
Temasek Holdings Pte, Singapore’s state-owned investment company, sold its entire 9.6% stake in Hana Financial Group Inc. for 681 billion won ($785 million), two people with the knowledge of the deal said.
Temasek Holdings Pte, Singapore’s state-owned investment company, sold its entire 9.6% stake in Hana Financial Group Inc. for 681 billion won ($785 million), two people with the knowledge of the deal said.
Both Hana and Temasek had no immediate comment on the proposed sale, but the deal comes as Temasek had agreed to support a US$5.3 billion rights offering by Standard Chartered.
Both Hana and Temasek had no immediate comment on the proposed sale, but the deal comes as Temasek had agreed to support a US$5.3 billion rights offering by Standard Chartered <STAN.L>.
Global Logistic Properties is set to raise $3.45 billion in Singapore’s biggest initial public offering since 1993, three people with knowledge of the matter said.
Shares in GLP, the overseas logistics unit of Government of Singapore Investment Corp., were priced at $1.96 a share, the top end of a range marketed to investors, the people said on condition of anonymity.
The Global Logistic IPO will push the amount raised in Singapore equity offerings in 2010 to US$5.33 billion ($7 billion), making it the biggest year for share sales in the city-state since 2007. Mapletree Industrial Trust, owned by a unit of Temasek Holdings Pte, plans to raise as much as $940 million in an IPO next week.
Singapore-Sichuan Investment Holdings, a Singapore consortium initiated by Temasek Holdings, has signed an MOU with Chengdu Hi-Tech Zone to conduct a feasibility study of the joint development of a Singapore-Sichuan Hi-Tech Innovation Park (HTIP).
The Singapore-Sichuan HTIP project will be situated in the Chengdu Hi-Tech Zone, which is currently ranked fourth out of the 54 national Hi-Tech Zones gazetted in China in terms of competitiveness.
The 35 sqkm development will first begin with an initial start-up area of 10 sqkm. It will focus on integrating modern manufacturing, modern services and modern living into one.
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Singapore state investor Temasek Holdings (TEM.UL) has hired a former Royal/Dutch Shell (RDSa.L) executive, Glenn Corrie, as its director for energy investments, a company spokeswoman said on Thursday.
Corrie, a former manager of global LNG strategy & portfolio at Royal Dutch Shell, will report to Gregory Lanham, a managing director for investment at Temasek, sources familiar with the hiring told Reuters.
Temasek has increased investments in the energy and resources sector lately as it diversifies a portfolio that still comprises 37% financials.
Its exposure to the energy and resources sector increased to $11.6 billion, or 6% of its $134 billion portfolio, in 2009/10 from $6.5 billion, or 5%, in the previous year.
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