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Sep 17, 2009
Temasek announces it is 25% invested in China; time to cut and run
By Gabriel Chen
Temasek chief executive Ho Ching said on Thursday that China remains important for Temasek. -- PHOTO: AP
TEMASEK Holdings announced on Thursday that it has about 25 per cent of its portfolio invested in China, making it the second largest investment destination after Singapore.
The state investment agency has direct exposure to the country through stakes in Chinese financial institutions such as China Construction Bank and Bank of China.
It also has indirect exposure to the powerful Chinese economy via investments in the likes of Standard Chartered Bank and CapitaLand - both of which have a growing presence there.
Temasek chief executive Ho Ching said on Thursday that China remains important for Temasek: 'If you look at their state owned enterprises today, they're profit generating compared to the 1990s where they were not well run.'
Ms Ho, who was speaking at the release of Temasek's annual report, added: 'Today, you see a very vibrant economy where at the state level, they understand what the market economy means and at the private sector, the private-owned enterprises have a lot of vitality.
'So if you look at China over the long run, we think the potential is there and very strong.'
Temasek is also bullish on India, an economy it believes has 'very deep potential'.
Its investments there include stakes in ICICI Bank and telecom giant Bharti Airtel.
Sep 17, 2009
Temasek announces it is 25% invested in China; time to cut and run
By Gabriel Chen
Temasek chief executive Ho Ching said on Thursday that China remains important for Temasek. -- PHOTO: AP
TEMASEK Holdings announced on Thursday that it has about 25 per cent of its portfolio invested in China, making it the second largest investment destination after Singapore.
The state investment agency has direct exposure to the country through stakes in Chinese financial institutions such as China Construction Bank and Bank of China.
It also has indirect exposure to the powerful Chinese economy via investments in the likes of Standard Chartered Bank and CapitaLand - both of which have a growing presence there.
Temasek chief executive Ho Ching said on Thursday that China remains important for Temasek: 'If you look at their state owned enterprises today, they're profit generating compared to the 1990s where they were not well run.'
Ms Ho, who was speaking at the release of Temasek's annual report, added: 'Today, you see a very vibrant economy where at the state level, they understand what the market economy means and at the private sector, the private-owned enterprises have a lot of vitality.
'So if you look at China over the long run, we think the potential is there and very strong.'
Temasek is also bullish on India, an economy it believes has 'very deep potential'.
Its investments there include stakes in ICICI Bank and telecom giant Bharti Airtel.
