Temasek Holdings

Temasek Holdings (Chinese淡马锡控股) is the holding company of the Singaporean government. Its primary objective is to offer good growth prospects to help companies with capital and thus promote the economic development of the city-state.

History

Early sixties acquired the Singapore government shares in some Singaporean companies that were active in the manufacturing industry and in shipbuilding. Until the founding of Temasek Holdings in 1974, these shares were held by the Treasury, which then the sole shareholder of the new investment company was.

Another instrument of government for Investment is the Government of Singapore Investment Corporation ( GIC ), which invests mainly the foreign reserves of the government.

Ho Ching, the wife of the Prime Minister's, as Chief Executive Officer since 2004, the shops. Chairman of the Board is S Dhanabalan.

Investments

Temasek Holdings is involved in many of the largest Singaporean companies, for example, SingTel (63% ) DBS Bank ( 28%), Singapore Airlines ( 57%), PSA International (100 %), SMRT Corporation ( 62%), Singapore Power and Neptune Orient Lines ( 68%). Investments are also in foreign companies, for example in Indonesia, Malaysia, Thailand and Australia ( Qantas Airways ). Temasek Holdings also has interests in the Chinese banks Bank of China ( 11.7% ) and China Construction Bank ( 5.1%). Participation in the Bank of China is the second largest of the foreign company at one of the major Chinese banks.

Temasek Holdings operates to 75 % in Singapore, but wants to reduce to a third of this amount. But the activities are to be expanded in developing countries and developed countries ( one third ).

Criticism

International attention Temasek learned by the military coup in Thailand, the deposed Prime Minister Thaksin Shinawatra. Background is the acquisition of 49.6 % of Thai Shin Corporation. The Shinawatra family sold its shares in his business empire for 1.88 billion U.S. dollars, after he still sat by a small change in the law shortly before sale. Result of this change in the law was that he had to pay on its $ 1.88 billion profit just $ 0.00 tax. The addressed to Thaksin corruption allegations colored according also to the Temasek Holding. Observers described the deal as saying: " An influential and powerful family from Singapore helps an influential and powerful family from Thailand ".