Temasek Holdings' investments
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- Main article: Temasek HoldingsTemasek HoldingsTemasek Holdings is an investment company owned by the government of Singapore. With an international staff of 380 people, it manages a portfolio of about S$193 billion at end of March 2011, focused primarily in Asia...
Temasek Holdings
Temasek Holdings
Temasek Holdings is an investment company owned by the government of Singapore. With an international staff of 380 people, it manages a portfolio of about S$193 billion at end of March 2011, focused primarily in Asia...
is an investment company owned by the government of Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
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Confirmed Investments
Source: Temasek Holdings2005
- Temasek, through its 100% owned subsidiary Vertical Theme, bought a 14.73% stake in MPlant (Malaysia Plantation) which in turns owns Malaysia's smallest bank Alliance Bank. The deal was worth Ringgit 463.59million.
- Temasek bought a 25% stake in one of PakistanPakistanPakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
's smallest banks, NDLC-IFIC Bank. - Temasek bought a 2.6% stake in RussianRussiaRussia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
TeleSystemsTelesystems (company)Telesystems is a company specialising in miniature electronics. It is based in Zelenograd, Russia. Its products are sold in more than 20 countries...
for US$300 000 000 (S$491 million) thus expanding its investments to Eastern Europe. - Temasek Holdings bought a stake in Mahindra & MahindraMahindra & Mahindra LimitedMahindra & Mahindra Limited is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. The company was set up in 1945 in Ludhiana as Mahindra & Mohammed by brothers K.C. Mahindra and J.C. Mahindra and Malik Ghulam Mohammed...
- India'sIndiaIndia , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
biggest maker of sport utility vehicles and tractors. Temasek made the purchase through its wholly owned unit Aranda Investments (Mauritius) Ltd. It bought 5.5 million shares in the market representing a 4.7 percent stake. Temasek declined to give any financial details, but based on 30 March's closing price, it would have cost some US$62 million. The move comes after Mahindra & Mahindra and Ford Motor ended their partnership in India by selling their cross-holdings. - Vietnam'sVietnamVietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...
Pacific Airlines will sell a 30% stake to Temasek Holdings Pte. in the second half of 2005. A Ministry of Finance official said Pacific Airlines is now valued at $167 million, and Temasek will invest $50 million to acquire the 30% stake. With the cash injection from Temasek, Pacific Airlines, which has accumulated debts of VND215 billion ($14 million) after more than 10 years in operation, will be able to pay off its debts and prepare for new developments, he said. - Temasek Holdings will invest US$1.4 billion at the initial public offering (IPO) price during the China Construction BankChina Construction BankChina Construction Bank is one of the 'big four' banks in the People's Republic of China. To date, it is ranked as the nation's second largest and the second largest bank in the world by market capitalization and 12th largest company in the world. The bank has approximately 13,629 domestic branches...
's planned international IPO, a bank spokesman announced Monday. China Construction Bank (CCB) and Asia Financial Holdings Pte. Ltd. (AFH), a wholly owned subsidiary of Temasek, signed a definitive agreement in connection with the strategic investment in CCB on July 1 for a 5.1% stake, the spokesman revealed - Temasek Holdings Ltd announced on 8 July 2005 that it had almost tripled its stake in Pakistan's NDLC-IFIC Bank (NIB.KA), or NIB, as it expands into South Asia's fastest-growing economy from 25% to 72.6% for US$57 million. NIB is Temasek's sole investment in Pakistan, whose economy grew by 8.35% in the last fiscal year ending June 30; the fastest growth rate in 20 years. In a statement, Temasek said it is grateful to NIB shareholders for giving it the "opportunity to take a majority stake in the bank, and for their confidence in allowing us to work with the board and management to fulfill our common vision of building NIB into a leading bank in Pakistan." Temasek is hopeful about the growth prospects of Pakistan, particularly the financial sector and believes that NIB is well positioned to capitalize on this growth, it said. It was first revealed in January that Temasek had bought a 25% stake in NIB, a small commercial bank, through Bugis Investments, a wholly owned subsidiary of Asia Financial Holdings, or AFH. On June 30, AFH was allotted fresh shares by NIB's board of directors, raising Bugis' ownership of NIB from 25% to 72.6%, Temasek said. AFH is a wholly owned unit of Temasek Holdings. NDLC-IFIC Bank, itself the product of a merger between two financial institutions in 2003, also bought the local banking unit of French bank Crédit AgricoleCrédit AgricoleCrédit Agricole S.A. is the largest retail banking group in France, second largest in Europe and the eighth largest in the world by Tier 1 capital according to The Banker magazine. It is also part of the CAC 40 stock market index....
(4507.FR) that same year. - Temasek Holdings has joined a group of private equity groups in investing $70 million in RussiaRussiaRussia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
n tyre production group Amtel Holland Holdings, an Amtel statement said. In March, Temasek bought a 2.6 percent stake worth about $372 million in Russia's top mobile phone firm Mobile TeleSystems. Temasek joined Alfa Bank Holdings in the latest round of fund raising by Amtel. Other investors in the group include Templeton Asset Management and Citicorp International Finance Corp. "Amtel is Temasek's first direct private investment in Russia, so it was important that we partnered with a company with an ethical and strong management team that was backed by other well-respected investors," said Manish Kejriwal, managing director for strategic development at Temasek. (8/7/05) - July 15, 2005 - Temasek Holdings eyeing a stake in TaiwanTaiwanTaiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...
's Chang Hwa Commercial Bank (2801.TW), a source familiar with the situation said Friday. Chang Hwa, the island's sixth largest lender by assets, is offering 1.4 billion new shares, equivalent to a 22% stake, worth at least NT$25.17 billion based on the bank's lowest offering price of NT$17.98 a share. The source is involved in the transaction, and confirmed that Temasek is competing against a few Taiwanese financial holding firms for the Chang Hwa shares on offer. Chang Hwa has said it expects to close the deal by next Friday. - On 20 July 2005, Temasek Holdings has invested S$11 million in MumbaiMumbaiMumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
-based Shringar Cinemas. Temasek says its wholly owned units, Aranda Investments (Mauritius) and Dunearn Investments (Mauritius), paid 62.5 rupees per share for the 14.9% stake. The shares were bought from India Value Fund which is managed by GW Capital. Shringar Cinemas operates multiplexes in India. Shares of Shringar traded at 74 rupees Wednesday morning on the Mumbai stock exchange. Earlier this month, Temasek announced that it's teaming up with London-based Sabre Capital to raise up to US$5 billion to invest in India. The money is to be pumped into equities and fixed-income markets of India's booming economy. - Thursday 21 July 2005, Temasek Holdings will try to hire Chinatrust Financial Holding Company (2891.TW) President Eric Chen if it acquires a 22% stake in Chang Hwa Commercial Bank Ltd. (2801.TW), the Commercial Times reports, citing unnamed sources. The paper also cites Chen, a former banker at Citigroup Inc. (C), as saying he would consider an offer to become president of Chang Hwa if Singapore's state-owned investment company bid for the stake is successful. Temasek Holdings is competing against several Taiwanese financial holding firms, including Mega Financial Holding Co. (2886.TW) and Taishin Financial Holdings Co.Taishin Financial HoldingsFounded in 2002 Taishin Financial Holdings is headquartered in Taipei, Taiwan. Taishin Financial Holdings consists of subsidiaries in the sectors of banking, securities, bills finance, assets management, and venture capital.-See also:*List of banks in Taiwan*Republic of China*Economy of...
(2887.TW), for the stake backed by 1.4 billion new shares. Chang Hwa, Taiwan's sixth largest lender by assets, said it expects to close the deal Friday - On July 22, 2005, Chang Hwa accepted Taishin Financial's offer of NT$26.12 per share for the 1.4 billion shares being sold by Chang Hwa, Taiwan's sixth-largest lender by assets. Taishin's bid was valued at NT$36.6 billion. However, Temasek, Singapore's state-owned investment company, submitted another proposal for the 22% stake before Chang Hwa's board meeting on Friday, 29 July 2005.
- On August 3, 2005, Temasek cut its stake in SMRT to 54.8% from 62.1% - Singapore's state-owned investment company, Temasek Holdings Pte Ltd, said Wednesday it has reduced its stake in commuter rail and bus operator SMRT Corp. (S53.SG) to 54.8% from 62.1% after it placed out 110 million ordinary shares for sale late Tuesday. The shares were placed at S$1.11 per share and sold to institutional investors, it said in a statement. SMRT shares ended Tuesday's session at S$1.16. Temasek said the placement was aimed at improving the liquidity of SMRT stock and widening the stock's investor base, benefiting all SMRT investors. The share placement raised approximately S$122 million.
- On August 8, 2005, Temasek Holdings loses its bid to buy a stake in Bank of ChinaBank of ChinaBank of China Limited is one of the big four state-owned commercial banks of the People's Republic of China. It was founded in 1912 by the Government of the Republic of China, to replace the Government Bank of Imperial China. It is the oldest bank in China...
to Royal Bank of ScotlandRoyal Bank of ScotlandThe Royal Bank of Scotland Group is a British banking and insurance holding company in which the UK Government holds an 84% stake. This stake is held and managed through UK Financial Investments Limited, whose voting rights are limited to 75% in order for the bank to retain its listing on the...
. RBS, Europe's second-biggest lender, a 5% holding in Bank of China, though it will control the 10% holding on behalf of its co-investors. The deal is estimated that $3.1bn (£1.7bn) - On August 11, 2005, it was rumoured that Temasek was in talks with Bank of ChinaBank of ChinaBank of China Limited is one of the big four state-owned commercial banks of the People's Republic of China. It was founded in 1912 by the Government of the Republic of China, to replace the Government Bank of Imperial China. It is the oldest bank in China...
to buy a stake in it. BOC plans to bring in four foreign investors to take a combined stake of nearly 25%, worth $6 billion, Caijing magazine reportsin its latest edition. Royal Bank of Scotland Group PLC (RBS.LN) and Singapore's Temasek Holdings will each take a 9.9% stake in Bank of China, the report said, without citing any sources. UBS AG (UBS) and the Asian Development Bank will together hold a 5% stake - On August 10, 2005, Temasek Holdings raised a total of S$580 million from placing out a 7.5% stake in property developer CapitaLand. Temasek revealed that it had placed out 200 million ordinary shares in CapitaLand at $2.90 each. That brings its shareholding in the property developer down to 44.5%, from 52%. Temasek remains the single largest shareholder in the company.
- On August 11, 2005, Chinese property firm Hopson Development Holdings Ltd. said it was selling a 16.7 percent stake in the company to Singapore state investment agency Temasek [TEM.UL] and a fund, Tiger Global, for HK$977.93 million ($125.4 million). The two strategic investors -- Aranda, a unit of Temasek, and Tiger Global, managed by Tiger Global Management -- will each own 8.33 percent of the company's enlarged issued share capital, after an issue of new shares, Hopson said in a statement.
- On August 24, 2005, there was rumour that Temasek Holdings may double its investment in China Construction Bank to $2.4 billion as part of a plan to expand overseas and cut shareholdings in Singapore's slower-growing economy, people familiar with the proposal said. Singapore's state-owned investment company offered to buy $1.4 billion of stock in China's third-largest bank before an initial public offering in October, said the people, who declined to be identified. Beijing-based Construction Bank last month said Temasek would invest $1 billion in the IPO itself. China Construction BankChina Construction BankChina Construction Bank is one of the 'big four' banks in the People's Republic of China. To date, it is ranked as the nation's second largest and the second largest bank in the world by market capitalization and 12th largest company in the world. The bank has approximately 13,629 domestic branches...
accounts for 12 percent of total loans in China and has 14,500 branches. - On August 25, 2005, Temasek Holdings is reported to be in the final stages of a deal to buy a 10% stake in Bank of China. According to the UK's Financial Times, the Singapore investment company will pay US$3.1 billion for the stake. The paper however adds that no deal has yet been reached. Temasek is said to be demanding warranties against a sudden deterioration in the finances of the state lender.
- On August 31, 2005, Temasek Holdings, the Singapore government's investment arm, will invest 3.1 billion US dollars in the Bank of China for a 10 percent stake, a BOC spokesman was quoted as saying by state media. Temasek will earmark another 500 million dollars at the initial public offering price during the BOC's planned international IPO. The deal will mark Temasek's second venture into China's banks after last month confirming it would purchase one billion dollars' worth of shares in China Construction Bank (CCB) during its public sale. Temasek will invest in BOC through the Asia Financial Holdings (AFH), a subsidiary of Temasek.
AFH will help the bank improve corporate governance and deepen banking reformsIt will become one of the BOC's strategic investors alongside Royal Bank of Scotland (RBoS) ahead of next year's overseas listing by the Chinese lender, analysts have said. RBoS announced August 18 it would lead a consortium to buy a 10 percent stake in BOC for 3.1 billion dollars alongside US investment bank Merrill Lynch and Hong Kong-based business tycoon Li Ka-Shing.
- On Wednesday August 31, 2005, Singapore Technologies Engineering Ltd. (S63.SG), a defense and engineering group part owned by the Singapore government, Tuesday said its unit ST Electronics will buy a U.S. company called iDirect Inc. in a deal worth US$165 million. iDirect, which was founded in Virginia in 1994, is a manufacturer of two-way Internet protocol-based broadband satellite networking solutions. Its customer base includes over 100 companies in the telecommunications services, oil and gas, construction and marine industries, as well as government agencies. "The acquisition of iDirect extends ST Electronics' presence in the U.S. and propels us to be a leading global satcom (satellite communications) solutions provider," said ST Electronics' President Seah Moon Ming.
- On September 3, 2005,Temasek Holdings Pte, Singapore's state-owned investment company, bought 12.4 per cent of Habib Corp, a Malaysian jewellery maker that acquired tugboats and barges from a Singapore shipping company. The 9.2 million Habib shares were acquired by Fullerton Fund Management Company Ltd for the discretionary fund account of Temasek Fullerton Alpha Pte, owned by Temasek, according to a stock exchange filing yesterday. It didn't say how much it paid for the shares or who it bought them from. Scomi Group Bhd, a Malaysian oil and gas services company, in February agreed to buy 30 per cent of Habib, giving it access to US$342 million of tugboats and barges.
- September 8, 2005Investment company Temasek Holdings is reported to be planning the sale of its first global bond issue. Marketing of the US-dollar denominated debt issue for investors in Asia, Europe and the US is said to be planned for next Monday and Tuesday. Pricing is expected to be decided after the road show. According to Reuters, analysts expect Temasek to sell between US$500 million and US$1 billion of debt. Deutsche Bank and JPMorgan Chase are said to be lead managing the international bond offering. When contacted by Channel NewsAsia, Temasek would not comment on details, except to say that it's exploring various financing options to enhance its capital efficiency and increase its financial flexibility. Temasek has the top grade rating of AAA by Standard & Poor's and Aaa by Moody's Investors Service.
- On September 8, 2005SpiceJet will get $20 million from MacRitchie Investments, Singapore (a wholly owned subsidiary of Temasek Holdings) and Istithmar, a UAE-based private equity firm.
- On 28 October 2005, Temasek Holdings said that it was open to increasing its stake in Malaysia's Southern BankSouthern BankSouthern Bank was a Malaysian bank and the ninth-largest lender while being one of the ten anchor banks in Malaysia.In 2006 it was bought over by Bumiputra-Commerce Holdings . BCHB plans to delist the bank from public listing as well as Bumiputra-Commerce and CIMB...
or selling off its current 7.6 percent shareholding, depending on opportunities. It may also just hold on to what it currently has for commercial benefits. Temasek says as long as it sees good returns from the transaction, it will support Southern Bank's move to buy Singapore's Asia General Holdings. But Temasek declined to comment on whether it would step in to buy the Singapore insurer if Southern Bank fails to get its shareholders' support for the deal. Spokesperson Eva Ho confirmed that Temasek owns a direct 4.36 percent stake of the Malaysian bank, while other units within the Temasek stable have a combined 3.22 percent. She would not reveal how much Temasek paid for the shares which were bought in the open market over a period of time. Southern Bank is currently fending off a takeover proposal by Commerce Asset Holdings which has been holding merger talks with a few major shareholders. - On 31 October 2005, SingaporeSingaporeSingapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
’s Temasek Holdings, Blackstone Capital Partners and the Carlyle Group have put in their bids to acquire a strategic stake in Air SaharaAir SaharaJetLite, formerly Air Sahara, is an airline based in Mumbai, India. owned by Jet Airways, the airline operates scheduled services connecting metropolitan centres in India, it operates 110 flights daily...
. According to industry sources, about eight bidders are interested in the airline, which has kept all “all options open”, including selling equity or strategic partnership, to fund its expansion plans. Ernst & Young is advising Air Sahara on the transaction. The sources said though October 31 was the last day for submitting bids by interested parties, it was likely that the deadline would be extended since prospective bidders had sought more information about the company. Liquor baron and owner of Kingfisher Airline Vijay Mallya has also evinced keen interest in picking up a stake in Air Sahara, while Jet AirwaysJet AirwaysJet Airways is a major Indian airline based in Mumbai, Maharashtra. It is India's largest airline and the market leader in the domestic sector. It operates over 400 flights daily to 76 destinations worldwide. Its main hub is Chhatrapati Shivaji International Airport, with secondary hubs at Delhi,...
has said it was not, though earlier reports had suggested that it was holding negotiations on the matter. While some of the interested parties had put in their bids for the $100 million private placement, others were holding talks with Air Sahara for picking a higher stake. Air Sahara had last month announced that E&Y had estimated the company’s enterprise valueEnterprise valueEnterprise value , Total enterprise value , or Firm value is an economic measure reflecting the market value of a whole business. It is a sum of claims of all the security-holders: debtholders, preferred shareholders, minority shareholders, common equity holders, and others...
between $750 million and $1 billion. The airline wants to offload 10% equity, which amounts to almost $100 million.
2006
- On January 23, 2006, Temasek Holdings acquired 49% of shares in Shin CorporationShin CorporationShin Corporation is one of the largest conglomerates in Thailand.- History :It was founded in 1983 as Shinawatra Computer by Thaksin Shinawatra, former Prime Minister of Thailand, and took on its current name in 1999, by using the first four letters of his last name...
from the ShinawatraShinawatraThe Shinawatra family is a wealthy and powerful ethnic Chinese family in Thailand. Below is a list of prominent family members.*Seng Sae Khu, Hakka Chinese immigrant to Thailand who made a fortune through various businesses. Following the 1938 anti-Chinese campaigns, his son changed his surname to...
and Damapong families. Aspen Holdings and Cedar Holdings were used as holding companies in the transaction.
- On March 28, 2006, Temasek Holdings bought an 11.55% stake in the LondonLondonLondon is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
-based Standard Chartered bank worth an estimated $4bn (£2.3bn) from the estate of billionaire Khoo Teck PuatKhoo Teck PuatTan Sri Khoo Teck Puat a banker and hotel owner, who, with an estimated fortune of $4.3 billion, was formerly Singapore's wealthiest man. He owned the Goodwood Group of boutique hotels in London and Singapore and was the largest single shareholder of Britain's Standard Chartered Bank...
http://news.bbc.co.uk/2/hi/business/4852510.stm
- After the Global Offering (IPO) of the Bank of ChinaBank of ChinaBank of China Limited is one of the big four state-owned commercial banks of the People's Republic of China. It was founded in 1912 by the Government of the Republic of China, to replace the Government Bank of Imperial China. It is the oldest bank in China...
(BOC) which listed on the Hong Kong Stock Exchange on June 1, 2006 (SEHK:3988), Temasek's ownership of the BOC through its subsidiary, Asia Financial Holdings Pte. Ltd., has been diluted to 4.765% (or 11,785,825,118 shares), after the over-allotment option was exercised in full.
2008
- Sale of three power generation companies - in March, Temasek sold Tuas Power to China Huaneng GroupChina Huaneng GroupChina Huaneng Corporation is one of the five largest state-owned power generation enterprises in China, administrated by the State Council of the People's Republic of China, engaging in the investment, construction, operation and management of power generation assets and the production and sale of...
for US$2.8 billion; in September, it sold Senoko Power to a consortium led by Japanese brokerage Marubeni Corp for US$2.4 billion; in December, it sold PowerSeraya to Malaysia's YTL Power International for US$2.5 billion.
- In December, Temasek sold its 70 percent stake in Singapore Food Industries Ltd., which operates food outlets in factories, hospitals and army camps, for S$334.5 million ($221 million).
- In December, Standard Chartered says Temasek will retain 18.8% stake in the bank after subscribing to its rights issue, or 356.6 million ordinary shares. Temasek also actively added to its holdings previously through open-market purchases.
2009
- In the first quarter, Temasek Holdings sold its entire 3% stake in Bank of AmericaBank of AmericaBank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
at a substantial loss.
- In May, Temasek bought 13.5 billion of China Construction BankChina Construction BankChina Construction Bank is one of the 'big four' banks in the People's Republic of China. To date, it is ranked as the nation's second largest and the second largest bank in the world by market capitalization and 12th largest company in the world. The bank has approximately 13,629 domestic branches...
(CCB) shares at HK$4.20 each from Bank of America, increasing its stake in CCB to 6.5%.
- In June, Temasek Holdings confirmed reports that it had sold its entire stake in British bank, Barclays PlcBarclays plcBarclays PLC is a global banking and financial services company headquartered in London, United Kingdom. As of 2010 it was the world's 10th-largest banking and financial services group and 21st-largest company according to a composite measure by Forbes magazine...
.
- In June, Temasek bought into agricultural commodities supplier Olam International, paying S$$437.5 million (US$302.9 million) for new shares at S$$1.60 each, giving it a 13.76% stake.