And it is precisely the of his addictive gambling habit and his wife's non-stop shifting of goal posts that SGs have smelt a rat that something has gone terribly wrong with their blood and coffin money!
http://news.asiaone.com/News/The+Business+Times/Story/A1Story20100211-197961.html
[TABLE="width: 560"]
<tbody>
[TR]
[TD="width: 550, colspan: 2"]Temasek makes waves with Seatown <!-- TITLE : end--><!--
(SINGAPORE) Temasek Holdings has set up a global investment company worth several billion dollars that could suss out opportunities and team up with other sophisticated investors. -->[/TD]
[/TR]
[TR]
[/TR]
[TR]
<td width="550" align="left" vAlign="top" colSpan="2">
<tbody>
[TD="class: content_subtitle"]Siow Li Sen | |
<tbody>
[TD="class: content_subtitle, align: left"]Thu, Feb 11, 2010
The Business Times
[/TD]
</tbody>
[/TD]
[TD="width: 400, align: right"]
<tbody>
[TD="align: right"]
[/TD]
[TD="align: right"]
<form name="emailToFriendForm" action="emailToFriend.jsp" method="post"><input name="emailToFriendPageURL" type="hidden" value="/vgn-ext-templating/asiaone/emailToFriend.jsp?vgnextoid=00290249b58b6210VgnVCM100000430a0a0aRCRD&vgnextchannel=034badbd2b722110VgnVCM100000bd0a0a0aRCRD"> <input name="emailToFriendStoryLink" type="hidden" value="http://www.asiaone.com/News/The%2BBusiness%2BTimes/Story/A1Story20100211-197961.html">
</form>
[/TD]
</tbody>
</tbody>
[/TD]
[/TR]
<!-- Story Without Image / With eXtra Large Image End -->
[TR]
[TD="class: bodytext_10pt, colspan: 3"]<!-- CONTENT : start -->
(SINGAPORE) Temasek Holdings has set up a global investment company worth
several billion dollars that could suss out opportunities and team up with other
sophisticated investors.
A Temasek spokesman said yesterday that it recently set up Seatown Holdings
as a wholly owned global investment company with Charles Ong as the chief
executive officer and Margaret Lui as chief operating officer.
In Temasek's annual report Mr Ong is listed as chief strategist and senior
managing director while Ms Lui is managing director, investment.
[TABLE="width: 300, align: right"]
<tbody>
[TR]
[TD]
<!-- Begin Rubicon Project Tag --><!-- Site: AsiaOne (RTB Only) Zone: AsiaOne - ROS Size: Medium Rectangle -->
<!-- End Rubicon Project Tag --><!-- Zone Tag : SPH In-Text -->
<iframe width="0" height="0" src="http://tap2-cdn.rubiconproject.com/partner/scripts/rubicon/emily.html?rtb_ext=1&pc=10800/24874&geo=au&co=sg" frameBorder="0" marginWidth="0" marginHeight="0" scrolling="no" style="width: 0px; height: 0px;"></iframe>
<iframe name="google_ads_frame2" width="300" height="250" id="google_ads_frame2" src="http://googleads.g.doubleclick.net/pagead/ads?client=ca-pub-7024551668114021&output=html&h=250&slotname=9804833832&adk=2716161777&w=300&lmt=1401183898&ea=0&flash=13.0.0.214&url=http%3A%2F%2Fnews.asiaone.com%2FNews%2FThe%2BBusiness%2BTimes%2FStory%2FA1Story20100211-197961.html&dt=1401183898121&shv=r20140520&cbv=r20140417&saldr=sb&prev_slotnames=1883292943&correlator=1401183897082&frm=20&ga_vid=1038699642.1401183897&ga_sid=1401183897&ga_hid=296182179&ga_fc=0&u_tz=480&u_his=2&u_java=1&u_h=1080&u_w=1920&u_ah=1040&u_aw=1920&u_cd=32&u_nplug=0&u_nmime=0&dff=verdana&dfs=16&adx=-2&ady=-2&biw=1137&bih=951&eid=317150304&oid=3&ref=http%3A%2F%2Fwww.google.com.sg%2Furl%3Fsa%3Dt%26rct%3Dj%26q%3D%26esrc%3Ds%26source%3Dweb%26cd%3D7%26ved%3D0CGwQFjAG%26url%3Dhttp%253A%252F%252Fnews.asiaone.com%252FNews%252FThe%252BBusiness%252BTimes%252FStory%252FA1Story20100211-197961.html%26ei%3DkF2EU4T9Cdjo8AW9koD4DQ%26usg%3DAFQjCNF3vq_TEsH3b5VLAjX8NwnstDhpcQ%26sig2%3DDFIaFVJgTxho4hw61f2eIw%26bvm%3Dbv.67720277%2Cd.dGc&rx=0&eae=4&docm=7&vis=0&fu=0&ifi=2&dtd=66" frameBorder="0" marginWidth="0" marginHeight="0" scrolling="no" allowTransparency=""></iframe>[/TD]
[/TR]
</tbody>[/TABLE]
Meanwhile, there have been
reports indicating that Nasser A Ahmad, who was a chief investment officer and
managing partner of hedge fund DiMaio Ahmad Capital in New York, will be named
co-chief executive of Seatown. Mr Ahmad is likely to move to Singapore, one
source said. The fund that he co-founded with Jack DiMaio has assets of US$4
billion but Mr DiMaio left last year to join Morgan Stanley.
'We have a small core team seconded from Temasek, and are still in the
process of building up the Seatown team,' the Temasek spokesman said.
Seatown is said to start with $3 billion, may invite other sophisticated
investors to join it and will invest in various asset classes and have a
multi-strategy approach.
It's more than just a hedge fund, the source said.
In July 2009, Temasek chief executive Ho Ching said the firm was studying
setting up an investment firm which could allow participation from retail
investors. If Temasek decides to pursue the plan, it would first test it on
'sophisticated' co-investors before allowing retail investors to participate - a
pilot process expected to take up to eight years, Ms Ho said.
Some local fund managers said it was a good time to set up hedge funds that
could spot opportunities while markets were in disarray.
'Markets are dislocated, we're seeing a lot of hedge fund formations . . .
hedge funds make money in such environments,' said Peter Douglas, principal of
GFIA, a hedge fund consultant.
But getting investors is quite difficult, especially for start-ups.
'It is difficult for start-ups because investors are very risk averse, though
things have begun to improve a little,' said Michael Coleman, chairman of the
Singapore chapter of the Alternative Investment Management Association
(AIMA).
'It's definitely less glacial than one year or six months ago but it's not
like 3-4 years ago,' said Mr Coleman, who is also managing director of
commodities hedge fund Aisling Analytics, one of Singapore's largest hedge funds
with about US$1.6 billion in assets.
In 2003, Temasek set up wholly owned Fullerton Fund Management Company Ltd,
which manages third-party funds. According to previous reports in 2008,
Fullerton had around US$10 billion assets.
There are some 138 hedge fund managers in Singapore and they manage at least
US$34.9 billion in assets, AIMA said in October last year.
Separately, Temasek also recently appointed two more directors to its board -
Michael Lien, grandson of the late Lien Ying Chow, the founder of Overseas Union
Bank, and Hsieh Fu Hua, former Singapore Exchange chief executive.
A Temasek spokesman yesterday said Mr Lien joined the board in January while
Mr Hsieh came on board this month.
[/TD]
[/TR]
</tbody>[/TABLE]