Did Temasek overpay for its stake in AS Watson?

The AS Watson deal allows Li Ka-shing to pull out some capital from the retailer and redeploy it for better returns. Photo: Bloomberg

Li Ka-shing's latest move to quickly close a HK$44 billion private deal with Singapore's Temasek for 25 per cent of AS Watson may be convenient for him, but the future could reveal that the sovereign wealth fund overpaid for Asia's richest man's own perceived brand and prowess.

Wednesday, 2 April, 2014, 1:01am 2 comments

Shuanghui could soon salve Hong Kong bourse's wounds with its IPO

Shuanghui International's listing plans involve grouping all the company's assets under the new name of WH Group. Photo: ChinaFotoPress

Still licking its wounds from the loss of Alibaba's planned US$15 billion initial public offering, the Hong Kong stock exchange may find some consolation in the imminent listing of Shuanghui International, likely to be the city's biggest this year.

3 Apr 2014 - 6:57am

Temasek, Hopu among buyers of stake in Yashili from Mengniu

Mengniu failed to acquire enough shares of its smaller rival to trigger a compulsory takeover, so must sell down part of its stake to maintain a required public float. Photo: Reuters

Singapore state investor Temasek and China-focused private equity firm Hopu were among five investors buying a US$213 million stake in Yashili International after parent China Mengniu Dairy sold down shares to meet Hong Kong listing requirements.

11 Nov 2013 - 11:19am

Temasek says China liquidity crunch won’t hit its holdings

Temasek Holdings said it does not expect a prolonged credit crunch in China. Photo: AFP

Singapore state investor Temasek Holdings said it does not expect last month’s liquidity crunch in Chinese banks to have an impact on its banking investments in the world’s second-largest economy.

4 Jul 2013 - 10:59pm

Singapore's Temasek bought some of Goldman's ICBC shares, lifting stake

ICBC's US$240 billion market value is now just below the combined value of JP Morgan Chase and Barclays. Photo: Bloomberg

Singapore sovereign wealth fund Temasek has again taken up shares in the Industrial and Commercial Bank of China (ICBC) that Goldman Sachs wanted to unload.

Temasek's stake in the bank rose to 7.04 per cent from 6.71 per cent after it paid HK$1.54 billion for 280 million ICBC shares. Hong Kong stock exchange data showed that Temasek paid an average of HK$5.50 per share.

22 May 2013 - 4:04am

Mainland property seen warm next year

Frank Tang knows how to stay in the game. Photo: SCMP

The mainland's property market is expected to bounce back next year, propelled by the new leadership's push to make urbanisation its top priority.

That is the view of top China dealmaker Frank Tang, chief executive of FountainVest Partners, a China-dedicated private equity firm partly financed by Singapore's wealth fund Temasek.

8 May 2015 - 9:46am

Commodity trader Olam battles Muddy Waters accounting claims

Temasek Holdings, Singapore state-linked investment firm, owns 16 per cent in Olam International. (AFP PHOTO/ROSLAN RAHMAN)

Singapore commodities trader Olam International Ltd defended its accounting practices after attacks by short-seller Muddy Waters which media reports said questioned the way it keeps its books, sending its U.S.-listed shares tumbling.

20 Nov 2012 - 3:27pm

Stanchart shares falters on Temasek sell-off move

Standard Chartered Bank shares fell the most in seven weeks yesterday after news that its largest shareholder, Singaporean wealth fund Temasek, is looking to divest its holding.

26 Sep 2012 - 2:41am

Sources say Temasek sells Asia Pacific Breweries stake to Heineken

Singapore state investor Temasek Holdings has sold its stake of roughly 1.4 per cent in Asia Pacific Breweries to Heineken, sources said on Tuesday, potentially stopping the Dutch brewer’s Thai rival from blocking the takeover.

22 Aug 2012 - 9:35am

Temasek sale jolts top China lenders

Shares in China Construction Bank (CCB) and Bank of China became two of the most shorted stocks on the Hong Kong stock exchange yesterday, a day after Singaporean sovereign wealth fund Temasek sold down its stake in the two banks.

Analysts said more divestment could continue, as Temasek still owns 3.38 per cent of Bank of China's H-shares and 8.76 per cent of CCB's H-shares.

4 May 2012 - 12:00am

Temasek puts US$2.4b shares on the block

Temasek appears to be taking short-term profits by selling US$2.4 billion worth of shares in Bank of China and China Construction Bank.

3 May 2012 - 12:00am

CCB overhang fears eased by share deal

The overhang on China Construction Bank's share price was lifted this week with news that Bank of America would sell about half of its stake in the lender - with Singapore sovereign wealth fund Temasek presumed to be on the list of buyers.

31 Aug 2011 - 12:00am

Temasek deal eases StanChart fears over key stake

Takeover talk that has dogged emerging-markets lender Standard Chartered for nearly a decade was put to rest yesterday with news that a key 11.55 per cent stake in the British bank is to be bought by Singapore state-backed portfolio investor .

Temasek immediately declared its intention to support the bank as a 'stable shareholder'.

29 Mar 2006 - 12:00am