It is a the kind of company no one talks about & they rule the world ! I love these !
Temasek is a huge financial holding (103 Bn USD in March 2005) based in Singapore. Basically, it represents the Singaporean state financial power. It is the main vehicle of the Singaporean Government foreign & domestic investment. They own part or totality of more than 50 companies :
Singapore Airlines (57%),
Singapore Telecom (63%),
PT Bank Danamon (56%),
CapitaLand (59%),
Raffles Holding (35%), the
Ascott Group (40%)... you name it !
Recently
Temasek has been talked about a lot for it is on the verge to get a minority share in the
Bank Of China (
BoC). The
relevant article in the FT is talking of a 10% share. Even for
Temasek, that is a huge investment for
BoC market capitalisation is closed to a 110 Bn USD.
This kind of investment is not totally new for
Temasek though. Indeed it already owns a 5% share of the
China Minsheng Banking Corp. though
Minsheng is privately owned. Actually
Minsheng is the sole bank in China which is privately owned.
You can download the latest financial report of
Temasek here.
Footnote : I am curious to know who owns the other 95% of Minsheng... Gotta check that...Labels: Business