<TABLE id=msgUN border=0 cellSpacing=3 cellPadding=0 width="100%"><TBODY><TR><TD id=msgUNsubj vAlign=top>Coffeeshop Chit Chat - HOleeJinx a throwing good $ for bad$????</TD><TD id=msgunetc noWrap align=right>
Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>Fkapore <NOBR></NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>Oct-23 7:50 pm </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 2) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>23190.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Burning a Hole in Temasek¡¦s Pocket: $1.8 Billion
October 24, 2009 by admin
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By Costa Paris from Wall Street Journal
The state-owned investment fund Temasek Holdings Pte. Ltd. wants to invest more than US$1.8 billion in the next few months, with a focus on China, India, Mexico and Brazil, people familiar with the situation said.
Investment teams are approaching the Singapore fund with proposals on how the money might be put to work, one of those people told Dow Jones Newswires, adding that the amount to be invested could increase if a big opportunity comes along.
The investment drive will be led by Temasek Chief Executive Officer Ho Ching. People familiar with the situation said Temasek isn¡¦t actively searching for a new CEO to succeed Ms. Ho, who has stayed on to continue running the fund after the surprise announcement in July that CEO-designate Charles ¡§Chip¡¨ W. Goodyear, the former head of BHP Billiton, was resigning before taking up his post in October.
People familiar with the situation say Mr. Goodyear encountered difficulties carrying out changes in the way Temasek worked and invested. Temasek attributed Mr. Goodyear¡¦s departure at the time to strategic differences.
Ms. Ho is married to Singapore Prime Minister Lee Hsien Loong.
Temasek¡¦s renewed interest in investing comes as the value of its investment portfolio this year has recovered much of the ground it lost in 2008, when it fell 30%. Signs of a global economic recovery are mounting and market volatility has declined.
Temasek executives have said they are interested in investment opportunities that offer exposure to the long-term growth of consumer spending in Asia, especially China and India.
Late last year and early in 2009, Temasek suffered hundreds of millions of dollars in losses after exiting its investments in Western banks before global financial markets had begun to recover. Around the same time, it began a rebalancing of its portfolio that brought more of its money closer to home in Asia.
In China, Temasek already owns a 6% stake in China Construction Bank Corp. and 4% in Bank of China Ltd. It has tried to invest in China¡¦s airline industry, but a deal for Temasek and its Singapore Airlines Ltd. to pay $923 million for a 24% stake in China Eastern Airline Corp. fell through last year when China Eastern shareholders rejected the offer in hopes of a higher bid from Air China that never materialized.
Singapore Airlines is eager to restart talks with China Eastern if Beijing were to support foreign investment in the carrier, the first person said.
Manish Kejriwal, Temasek¡¦s senior managing director, investment, international and India, said Temasek believes opportunities in consumer-oriented businesses and infrastructure in India ¡§will lead to the emergence of champions that are excellent proxies for economic growth.¡¨ ¡V WSJ
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October 24, 2009 by admin
Filed under Top News
Leave a comment
By Costa Paris from Wall Street Journal
The state-owned investment fund Temasek Holdings Pte. Ltd. wants to invest more than US$1.8 billion in the next few months, with a focus on China, India, Mexico and Brazil, people familiar with the situation said.
Investment teams are approaching the Singapore fund with proposals on how the money might be put to work, one of those people told Dow Jones Newswires, adding that the amount to be invested could increase if a big opportunity comes along.
The investment drive will be led by Temasek Chief Executive Officer Ho Ching. People familiar with the situation said Temasek isn¡¦t actively searching for a new CEO to succeed Ms. Ho, who has stayed on to continue running the fund after the surprise announcement in July that CEO-designate Charles ¡§Chip¡¨ W. Goodyear, the former head of BHP Billiton, was resigning before taking up his post in October.
People familiar with the situation say Mr. Goodyear encountered difficulties carrying out changes in the way Temasek worked and invested. Temasek attributed Mr. Goodyear¡¦s departure at the time to strategic differences.
Ms. Ho is married to Singapore Prime Minister Lee Hsien Loong.
Temasek¡¦s renewed interest in investing comes as the value of its investment portfolio this year has recovered much of the ground it lost in 2008, when it fell 30%. Signs of a global economic recovery are mounting and market volatility has declined.
Temasek executives have said they are interested in investment opportunities that offer exposure to the long-term growth of consumer spending in Asia, especially China and India.
Late last year and early in 2009, Temasek suffered hundreds of millions of dollars in losses after exiting its investments in Western banks before global financial markets had begun to recover. Around the same time, it began a rebalancing of its portfolio that brought more of its money closer to home in Asia.
In China, Temasek already owns a 6% stake in China Construction Bank Corp. and 4% in Bank of China Ltd. It has tried to invest in China¡¦s airline industry, but a deal for Temasek and its Singapore Airlines Ltd. to pay $923 million for a 24% stake in China Eastern Airline Corp. fell through last year when China Eastern shareholders rejected the offer in hopes of a higher bid from Air China that never materialized.
Singapore Airlines is eager to restart talks with China Eastern if Beijing were to support foreign investment in the carrier, the first person said.
Manish Kejriwal, Temasek¡¦s senior managing director, investment, international and India, said Temasek believes opportunities in consumer-oriented businesses and infrastructure in India ¡§will lead to the emergence of champions that are excellent proxies for economic growth.¡¨ ¡V WSJ
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