Singapore state investment company Temasek Holdings has yet to decide whether it will participate in the GBP1 billion share sale by Standard Chartered PLC (STAN.LN), two people familiar with the situation said today.
“It’s being considered but there is no decision yet whether Temasek will buy any new shares. It will come later in the week,” one person told Dow Jones Newswires.
Temasek Holdings Pte’s decision to consider managing money for outside investors may help it overcome foreign governments’ concerns about sovereign wealth fund investment and drive expansion over the next decade.
The Singapore fund may seek “sophisticated co-investors” in five to eight years and retail investors in the next eight to 10 years, Chief Executive Officer Ho Ching said during a speech in Singapore yesterday. Temasek has been exploring the plan for the past three years and may have a “clearer” picture of the platform it will adopt in the next 12 months, she said.
Temasek Holdings Pte’s decision to consider managing money for outside investors may help it overcome foreign governments’ concerns about sovereign wealth fund investment and drive expansion over the next decade.
The Singapore fund may seek “sophisticated co-investors” in five to eight years and retail investors in the next eight to 10 years, Chief Executive Officer Ho Ching said during a speech in Singapore yesterday. Temasek has been exploring the plan for the past three years and may have a “clearer” picture of the platform it will adopt in the next 12 months, she said.
Olam International (OLAM SP), a supplier of agricultural commodities that is partly owned by Temasek Holdings Pte, lost 2% to $2.50. The Reuters/Jefferies CRB Index, which tracks 19 commodities, dropped 2.7% yesterday in New York, its sharpest decline in a month.
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Building a Sustainable Institution by Ho Ching, Executive Director and CEO, Temasek Holdings at the Institute of Policy Studies Corporate Associates Lunch on July 29.
Singapore state investor Temasek said its portfolio slid by at least US$27 billion ($39 billion), or more than a fifth, in the year to March but it will stick with banks and sees opportunities in food and energy.
The fund saw potential in Asia and Latin America and was comfortable with financial services as its core portfolio holding, despite being hurt by the market meltdown last year after its high profile investments in Western banks, CEO Ho Ching said today.
Temasek Holdings Pte vowed to hang on to the “family jewels” as a long-term investor and said it may allow the public to invest in Singapore’s state-run fund.
The value of the company’s assets dropped by more than $40 billion in the 12 months ended March, Chief Executive Officer Ho Ching said in a speech in Singapore today. The investment firm will act to enhance value over as long as 30 years and will not sell stakes “for divestment’s sake,” Ho said.
Temasek Holdings Pte, the Singapore state-owned investment company which sold its holdings in Bank of America Corp. earlier this year, is still “fairly comfortable” with the financial industry, Chief Executive Officer Ho Ching says.
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Temasek Holdings Pte, the Singapore state-owned investment company, may invite the public to co-invest, Chief Executive Officer Ho Ching said in a speech in Singapore today.
It may also seek “sophisticated investors” in five to eight years and retail investors in the next eight to 10 years, she said.
“Over the longer term, we are exploring the feasibility of creating one more group of stakeholders,” she said. “We can do this by inviting the public to co-invest with Temasek.”
Singapore state investor Temasek said today it was fairly comfortable with financial services as its core portfolio holding, but was looking at opportunities in the food and energy sectors.
“In terms of sectors specifically, we are agnostic, we don’t have a sectoral target,” CEO Ho Ching said in a speech.
Temasek Holdings Pte, Singapore’s state-run investment company, said asset values fell by more than $40 billion by March.
Meanwhile, Chief Executive Officer Ho Ching said it’s “unfortunate” that Charles ‘Chip’ Goodyear didn’t take the top job.
The succession review continues for her replacement, she added.
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