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July 29, 2009
Temasek to 'co-invest'
Temasek would consider, over the long term, creating one more group of stakeholders, and may invite the public to 'co-invest' with the company, Ms Ho said. -- PHOTO: AP
TEMASEK Holdings 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 told a lunch talk organised by the Institute of Policy Studies think tank, Bloomberg news reported.
The investment firm will act to enhance value over as long as 30 years and will not sell stakes 'for divestment's sake,' Ms Ho said.
'We don't intend to raid the larder nor sell the family jewels for short-term gains. We will jealously guard our interest and will invest, rationalise, consolidate or divest where it makes sense, where we can achieve clear, sustainable value.'
Temasek would consider, over the long term, creating one more group of stakeholders, and may invite the public to 'co-invest' with the company, Ms Ho said. It may seek 'sophisticated investors' in five to eight years and retail investors in the next eight to 10 years, she added.
'It is important to test this over at least one market cycle during the next five to eight years,' she said. 'If this pilot is successful, we may then consider a co-investment platform for retail investors in perhaps eight to 10 years' time.'
Temasek is also looking for long-term investors, Ms Ho added.
She said financial sector investments will still form part of Temasek's core holdings. Temasek is still 'fairly comfortable' in the financial sector.
July 29, 2009
Temasek to 'co-invest'
Temasek would consider, over the long term, creating one more group of stakeholders, and may invite the public to 'co-invest' with the company, Ms Ho said. -- PHOTO: AP
TEMASEK Holdings 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 told a lunch talk organised by the Institute of Policy Studies think tank, Bloomberg news reported.
The investment firm will act to enhance value over as long as 30 years and will not sell stakes 'for divestment's sake,' Ms Ho said.
'We don't intend to raid the larder nor sell the family jewels for short-term gains. We will jealously guard our interest and will invest, rationalise, consolidate or divest where it makes sense, where we can achieve clear, sustainable value.'
Temasek would consider, over the long term, creating one more group of stakeholders, and may invite the public to 'co-invest' with the company, Ms Ho said. It may seek 'sophisticated investors' in five to eight years and retail investors in the next eight to 10 years, she added.
'It is important to test this over at least one market cycle during the next five to eight years,' she said. 'If this pilot is successful, we may then consider a co-investment platform for retail investors in perhaps eight to 10 years' time.'
Temasek is also looking for long-term investors, Ms Ho added.
She said financial sector investments will still form part of Temasek's core holdings. Temasek is still 'fairly comfortable' in the financial sector.
