https://www.scmp.com/rss/44174/feed Temasek Holdings is an investment company owned by the government of Singapore. Temasek is one of a few global firms with the highest corporate credit ratings by both Standard & Poor's and Moody's, of AAA and Aaa respectively. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Jean Iau Jean Iau A defamation lawsuit filed by Singapore cabinet ministers K Shanmugam and Tan See Leng against financial news outlet Bloomberg on Tuesday opened with heated exchanges over an article that mentioned their personal property transactions. According to statements of claim filed in the High Court, Shanmugam, who is coordinating minister for national security, and Tan, who is manpower minister, said parts of the article, titled “Singapore mansion deals are increasingly shrouded in secrecy”, were... https://www.scmp.com/week-asia/people/article/3349204/singapore-ministers-defamation-suit-against-bloomberg-property-article-starts?utm_source=rss_feed https://www.scmp.com/week-asia/people/article/3349204/singapore-ministers-defamation-suit-against-bloomberg-property-article-starts?utm_source=rss_feed Tue, 07 Apr 2026 02:07:27 +0000 Edith Lin Edith Lin The head of Hong Kong’s government investment agency has been appointed as a director of a global organisation that brings together leading firms and investors, marking the first time a Chinese sovereign wealth fund has held a seat on the board. FCLTGlobal announced on Wednesday that Clara Chan Ka-chai, CEO of the Hong Kong Investment Corporation (HKIC), had become one of the 19 directors on its board. “Clara brings deep experience and thoughtful leadership that will strengthen our work to... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348690/hong-kong-investment-chief-joins-global-board-first-chinese-sovereign-funds?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348690/hong-kong-investment-chief-joins-global-board-first-chinese-sovereign-funds?utm_source=rss_feed Wed, 01 Apr 2026 12:00:25 +0000 Themis Qi Themis Qi SmartMore, the first company backed by the Hong Kong government’s investment fund, has applied for a listing, underscoring the city’s crowded pipeline of technology initial public offerings (IPOs). The unicorn, founded in 2019 and specialising in industrial artificial intelligence, submitted its application on Monday night, with Morgan Stanley, China International Capital Corporation and Deutsche Bank as joint sponsors. SmartMore provides intelligent manufacturing and digital innovation through... https://www.scmp.com/business/banking-finance/article/3346854/smartmore-first-firm-backed-hong-kong-wealth-fund-seeks-ipo-tech-pipeline-heats?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346854/smartmore-first-firm-backed-hong-kong-wealth-fund-seeks-ipo-tech-pipeline-heats?utm_source=rss_feed Tue, 17 Mar 2026 06:40:12 +0000 Julie Zhang,Yulu Ao Julie Zhang,Yulu Ao Until last year, Fidelity International’s most significant cornerstone commitments on the Hong Kong initial public offering (IPO) market dated back to 2021, when Chinese short-video platform Kuaishou Technology raised US$5.4 billion and healthcare firm Medlive Technology completed a US$543.4 million listing. Then for the next four years, the asset manager went quiet. Late last year it returned to Chinese assets in force. It backed gold miner Zijin Gold International’s US$3.2 billion listing in... https://www.scmp.com/business/banking-finance/article/3344890/big-cornerstone-comeback-whats-driving-investors-back-hong-kong-ipos?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344890/big-cornerstone-comeback-whats-driving-investors-back-hong-kong-ipos?utm_source=rss_feed Sat, 28 Feb 2026 02:00:57 +0000 Themis Qi Themis Qi China’s energy-drinks giant Eastroc Beverage neither rose nor fell in its debut in Hong Kong on Tuesday amid investor caution following regulatory scrutiny of poor-quality listing applications. Shares of the Shenzhen-based company, which makes an alternative to Red Bull, opened at HK$248, matching the offer price. They ended the day 1.5 per cent higher at HK$251.80. Eastroc raised HK$10.14 billion (US$1.3 billion) by issuing 40.89 million shares, the largest initial public offering (IPO) in the... https://www.scmp.com/business/banking-finance/article/3342164/chinas-top-energy-drinks-maker-eastroc-matches-offer-price-hong-kong-debut?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3342164/chinas-top-energy-drinks-maker-eastroc-matches-offer-price-hong-kong-debut?utm_source=rss_feed Tue, 03 Feb 2026 01:37:55 +0000 Aileen Chuang Aileen Chuang Chinese energy-drinks maker Eastroc Beverage has kicked off a Hong Kong initial public offering (IPO) to raise up to HK$10.1 billion (US$1.3 billion), making it the city’s largest listing this year that has already seen a dozen companies raise more than US$4.5 billion. The Shanghai-listed firm was offering 40.9 million shares at a maximum price of HK$248 each, according to its prospectus filed to the Hong Kong stock exchange on Monday. At this price, the firm would be valued at around US$21... https://www.scmp.com/business/banking-finance/article/3341216/chinese-drinks-maker-eastrocs-us13-billion-hong-kong-ipo-gives-it-wings-soar?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341216/chinese-drinks-maker-eastrocs-us13-billion-hong-kong-ipo-gives-it-wings-soar?utm_source=rss_feed Mon, 26 Jan 2026 05:47:52 +0000 Julie Zhang Julie Zhang As Chinese biotech and pharmaceutical firms gain importance on the global stage, foreign investors from sovereign wealth funds to industry players are securing strategic stakes in their future success. International institutional investors have built up significant positions in Chinese biotech firms over the past decade. These positions often approach, and in some cases exceed, the 5 per cent disclosure threshold for substantial shareholders in Hong Kong. BlackRock, the world’s largest asset... https://www.scmp.com/business/china-business/article/3340801/revealed-global-funds-blackrock-temasek-back-chinas-largest-biotech-firms?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3340801/revealed-global-funds-blackrock-temasek-back-chinas-largest-biotech-firms?utm_source=rss_feed Fri, 23 Jan 2026 00:30:09 +0000 Aileen Chuang Aileen Chuang Busy Ming Group, China’s largest snack and drink retailer, is seeking to raise up to HK$3.34 billion (US$428 million) in a Hong Kong initial public offering (IPO), testing investors’ appetite for consumer-oriented stocks. The firm, which focuses on a value model, planned to sell 14.1 million shares at HK$229.60 to HK$236.60, according to its prospectus filed with the Hong Kong stock exchange on Tuesday. The stock is expected to begin trading on January 28. Busy Ming owns two brands – Busy for... https://www.scmp.com/business/banking-finance/article/3340497/chinas-busy-ming-test-investor-appetite-consumer-plays-hong-kong-ipo?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3340497/chinas-busy-ming-test-investor-appetite-consumer-plays-hong-kong-ipo?utm_source=rss_feed Tue, 20 Jan 2026 03:55:03 +0000 Aileen Chuang Aileen Chuang Growth in sovereign investors’ exposure to mainland China in 2025 slowed amid rising political sensitivities, but experts said selective opportunities and closer bilateral ties could support the outlook. The world’s second-largest economy received US$4.3 billion in investments from sovereign wealth funds, public pension funds and central banks, down 58 per cent from US$10.3 billion in 2024, according to Global SWF, which tracks 792 such state-owned investors. “Sovereign investment activity has... https://www.scmp.com/business/banking-finance/article/3339836/sovereign-investors-cut-mainland-china-exposure-political-sensitivities-rise?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3339836/sovereign-investors-cut-mainland-china-exposure-political-sensitivities-rise?utm_source=rss_feed Wed, 14 Jan 2026 09:00:13 +0000 SCMP Editorial SCMP Editorial Hong Kong’s initial public offering (IPO) market has ended a banner year with a big bang. Six new listings on the second last trading day marked a busy year that catapulted the city back to the world’s top spot for IPOs and made the Hang Seng Index one of the best stock performers. Led by US-based drug-discovery specialist Insilico Medicine, the six firms raised a total of HK$6.99 billion (US$899 million) while no fewer than 26 debutants started trading in December. The IPO market, as of... https://www.scmp.com/opinion/comment/article/3338251/hong-kongs-ipo-market-rings-2026-high-note?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3338251/hong-kongs-ipo-market-rings-2026-high-note?utm_source=rss_feed Wed, 31 Dec 2025 23:15:14 +0000 Julie Zhang Julie Zhang Biotech firm Insilico Medicine, backed by the Hong Kong Investment Corporation (HKIC), is building a “digital Einstein” to revolutionise how scientists discover new medicines, and plans to continue expanding its research base in China to stay ahead of global rivals after its Hong Kong listing on Tuesday. “Biotechnology is a high-risk field like a ‘molecular casino’,” said founder Alex Zhavoronkov. “Even with artificial intelligence, you can lose 90 per cent of the time.” The 11-year-old company... https://www.scmp.com/business/china-business/article/3337942/china-vital-insilicos-plan-build-biotechs-ai-einstein-drug-discovery?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3337942/china-vital-insilicos-plan-build-biotechs-ai-einstein-drug-discovery?utm_source=rss_feed Tue, 30 Dec 2025 02:13:46 +0000 Agence France-Presse Agence France-Presse Thailand’s Supreme Court ordered jailed former prime minister Thaksin Shinawatra on Monday to pay back taxes over the sale of his telecoms firm, the judiciary said, with reports putting the sum due at around half a billion dollars. In 2006, Thaksin was dogged by corruption allegations and mired in controversy over the tax-free sale of shares in his company, Shin Corporation. Later that year he was ousted as prime minister in a coup and then went into exile for more than a decade. The 76-year-old... https://www.scmp.com/news/asia/southeast-asia/article/3333153/thai-ex-pm-thaksin-faces-us540-million-bill-over-shin-corporation-sale-singapores-temasek?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3333153/thai-ex-pm-thaksin-faces-us540-million-bill-over-shin-corporation-sale-singapores-temasek?utm_source=rss_feed Mon, 17 Nov 2025 22:00:15 +0000 Cao Li Cao Li Singapore’s Temasek Holdings, one of the world’s largest sovereign wealth funds, opened positions in two of China’s leading autonomous driving companies in the third quarter of this year. The state-owned company bought about 1.4 million shares of WeRide and 14,500 shares of Pony.ai in the September quarter, according to its 13F filings released on Friday. The total value of the shares was around US$13.7 million. Temasek has a history of investing in autonomous driving companies. These included... https://www.scmp.com/business/china-business/article/3332916/singapores-temasek-invests-weride-ponyai-boost-china-tech-holdings?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3332916/singapores-temasek-invests-weride-ponyai-boost-china-tech-holdings?utm_source=rss_feed Sat, 15 Nov 2025 07:09:38 +0000 Kolette Lim Kolette Lim Singapore is leading the AI race in Southeast Asia, a region emerging as an artificial intelligence hotspot as start-ups draw significant investments and major players seek expansion, according to an industry report. Some 680 AI start-ups attracted more than US$2.3 billion of investments across Southeast Asia in the 12 months to June, accounting for 32 per cent of private funding in the region, research from Google, Singapore’s state investor Temasek and management consultancy Bain & Company... https://www.scmp.com/week-asia/economics/article/3332375/singapore-based-ai-start-ups-draw-most-funding-southeast-asia-report?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3332375/singapore-based-ai-start-ups-draw-most-funding-southeast-asia-report?utm_source=rss_feed Tue, 11 Nov 2025 11:58:45 +0000 Bloomberg Bloomberg Singapore’s Temasek Holdings is mulling one of its biggest overhauls in years, potentially reorganising the firm into three investment vehicles in a bid to boost returns and efficiencies, according to people familiar with the matter. Under the proposal still being discussed at senior levels, Singapore’s state-owned investor could divide its business into three arms. One would focus on Temasek’s biggest domestic holdings, such as Singapore Airlines, and another would oversee largely foreign... https://www.scmp.com/news/asia/southeast-asia/article/3322544/singapores-temasek-mulls-major-overhaul-boost-returns?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3322544/singapores-temasek-mulls-major-overhaul-boost-returns?utm_source=rss_feed Wed, 20 Aug 2025 11:31:08 +0000 Yulu Ao Yulu Ao Two of the world’s largest sovereign wealth funds have adjusted their stakes in Chinese equities, trimming their exposure to technology stocks while going long on consumer companies as they mirrored Bridgewater Associates in reacting to volatile markets and rising US-China tensions. Singapore’s Temasek Holdings cut its stake in Alibaba Group Holding by two-thirds to 1.85 million shares in the quarter that ended in June, according to its 13F disclosure on Thursday. It slashed its JD.com holdings... https://www.scmp.com/business/china-business/article/3322039/temasek-fine-tunes-chinese-stock-portfolio-pif-exits-alibaba-sovereign-fund-tweaks?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3322039/temasek-fine-tunes-chinese-stock-portfolio-pif-exits-alibaba-sovereign-fund-tweaks?utm_source=rss_feed Fri, 15 Aug 2025 11:44:15 +0000 Bloomberg Bloomberg Indonesian police have detained the co-founder of eFishery, investigating a start-up whose collapse shook up Southeast Asia’s investment and tech community. Gibran Huzaifah was detained last week by the white-collar crimes division, the police said. He and two other former eFishery executives have remained in custody since July 31, according to a text message from Helfi Assegaf, director of special economic crimes at the National Police’s Criminal Investigation Agency. The three have been... https://www.scmp.com/news/asia/southeast-asia/article/3320768/indonesia-arrests-founder-high-flying-fish-start-over-fraud-scandal?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3320768/indonesia-arrests-founder-high-flying-fish-start-over-fraud-scandal?utm_source=rss_feed Tue, 05 Aug 2025 04:22:28 +0000 Aileen Chuang Aileen Chuang Hong Kong’s vast lead over Singapore as a listing venue appears unassailable, with even the Southeast Asian city’s home-grown companies heading north to raise funds, but the city state remains determined to improve its allure, according to bankers and analysts. IFBH, a Singapore-incorporated Thai firm that is the world’s second-largest bottler of coconut water, started trading on the Hong Kong stock exchange on Monday after completing a HK$1.16 billion (US$147 million) initial public offering... https://www.scmp.com/business/banking-finance/article/3316249/can-singapore-regain-allure-more-citys-companies-flock-hong-kong-ipos?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3316249/can-singapore-regain-allure-more-citys-companies-flock-hong-kong-ipos?utm_source=rss_feed Mon, 30 Jun 2025 00:30:12 +0000 Melinda Martinus Melinda Martinus The second Asean-Gulf Cooperation Council (GCC) Summit and the inaugural Asean-GCC-China Summit, held in Malaysia from May 26 to 27, marked a significant step towards deepening ties between Southeast Asia and the Gulf. While interregional cooperation is often framed in terms of energy, trade and investment, the bedrock of this relationship is increasingly shaped by people-to-people connectivity, anchored in labour migration, religious devotion and growing financial linkages. As fast-growing... https://www.scmp.com/week-asia/opinion/article/3316133/are-migrant-workers-real-glue-cementing-asean-gcc-ties?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3316133/are-migrant-workers-real-glue-cementing-asean-gcc-ties?utm_source=rss_feed Sat, 28 Jun 2025 04:00:09 +0000 Resty Woro Yuniar Resty Woro Yuniar On his first state visit to Singapore, Indonesia’s President Prabowo Subianto was strikingly candid: he had “copied with pride” his neighbour’s approach to housing and investment, he said – presenting the city state as a model for his own government’s ambitious development agenda. But chasing Singapore’s success risks overlooking the deeper reforms Indonesia must tackle to make such policies work at home, analysts say. The remarks came [earlier this week for online as Prabowo met President... https://www.scmp.com/week-asia/economics/article/3315268/indonesias-prabowo-openly-admires-singapores-success-what-can-he-copy-pride?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3315268/indonesias-prabowo-openly-admires-singapores-success-what-can-he-copy-pride?utm_source=rss_feed Sat, 21 Jun 2025 10:30:07 +0000 Jean Iau Jean Iau The shutdown of Singapore-based airline Jetstar Asia is a sign of turbulent times ahead for budget carriers in the region as they grapple with higher costs and stiffer competition, aviation analysts have said. On Wednesday, Jetstar Asia, the low-cost arm of Australian airline Qantas, announced that it would close down at the end of July. The decision followed a review of the budget airline, which had in recent years been challenged by rising supplier costs, airport fees, aviation charges and... https://www.scmp.com/week-asia/economics/article/3314046/singapore-based-jetstar-asias-exit-signals-turbulent-times-low-cost-airlines?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3314046/singapore-based-jetstar-asias-exit-signals-turbulent-times-low-cost-airlines?utm_source=rss_feed Wed, 11 Jun 2025 12:04:14 +0000 Singapore’s state investment fund, Temasek, has added another company to its growing India portfolio by acquiring a stake in Haldiram Snacks Food, a leading player in the South Asian nation’s food industry. The deal follows investments by Temasek in Indian companies in sectors ranging from healthcare to financial services, in line with its bullish outlook on India’s long-term growth. While the financial terms of the agreement with Haldiram’s have not been publicly disclosed, sources told Reuters... https://www.scmp.com/week-asia/economics/article/3304990/singapores-temasek-invests-snack-firm-haldirams-india-remains-key-focus?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3304990/singapores-temasek-invests-snack-firm-haldirams-india-remains-key-focus?utm_source=rss_feed Thu, 03 Apr 2025 04:00:08 +0000 Coco Feng Coco Feng Chinese augmented-reality (AR) device maker Rokid made waves on social media and in the stock market after its founder showed how the start-up’s artificial intelligence (AI) glasses could be used in a real-world setting. While speaking last week at a government event in Rokid’s hometown Hangzhou, capital of Zhejiang province, founder Misa Zhu Mingming had his speech notes projected directly onto a pair of AR glasses he was wearing, instead of reading from a printed script or the prompter. He was... https://www.scmp.com/tech/article/3300077/rokids-ai-infused-ar-glasses-wow-china-script-projection-smart-ring-control?utm_source=rss_feed https://www.scmp.com/tech/article/3300077/rokids-ai-infused-ar-glasses-wow-china-script-projection-smart-ring-control?utm_source=rss_feed Tue, 25 Feb 2025 13:00:15 +0000 Indonesia’s government will set up a state investment agency to manage holdings in some of the biggest state companies after parliament passed a bill on Tuesday approving the body, which is intended to operate like Singapore’s investment arm Temasek. The creation of the Daya Anagata Nusantara Investment Management Agency, or Danantara, was announced soon after President Prabowo Subianto took office in October, with the aim of improving the performance and returns from state investments. The new... https://www.scmp.com/news/asia/southeast-asia/article/3297276/eyeing-success-singapores-temasek-indonesia-approves-investment-arm-its-own?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3297276/eyeing-success-singapores-temasek-indonesia-approves-investment-arm-its-own?utm_source=rss_feed Tue, 04 Feb 2025 05:39:14 +0000 Singapore’s main postal service has sought to downplay concerns over its operational integrity following the termination of three top executives over a whistle-blower’s report earlier this year. A spokeswoman told This Week in Asia that Singapore Post (SingPost) remained “confident of our legal position”, in response to questions on two of the three executives’ claims that the termination was “without merits, and was procedurally unfair”. “We are confident of our legal position and will address... https://www.scmp.com/week-asia/people/article/3292166/singapore-post-downplays-concerns-over-operational-integrity-after-sacking-top-executives?utm_source=rss_feed https://www.scmp.com/week-asia/people/article/3292166/singapore-post-downplays-concerns-over-operational-integrity-after-sacking-top-executives?utm_source=rss_feed Tue, 24 Dec 2024 09:10:20 +0000 Ben Jiang Ben Jiang The Southeast Asian e-commerce market is expected to more than double in the next six years to reach US$370 billion by 2030, according to a report from US technology giant Google, Singapore’s sovereign wealth fund Temasek Holdings, and consultancy Bain & Co. The booming sector has attracted a slew of Chinese players – including Alibaba Group Holding’s Lazada, PDD Holdings’ Temu and ByteDance’s TikTok Shop, as well as regional giant Shopee from Singaporean conglomerate Sea – all vying for... https://www.scmp.com/tech/big-tech/article/3285600/southeast-asias-e-commerce-gold-rush-draws-chinese-giants-alibaba-bytedance?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3285600/southeast-asias-e-commerce-gold-rush-draws-chinese-giants-alibaba-bytedance?utm_source=rss_feed Thu, 07 Nov 2024 10:00:30 +0000 Cheryl Arcibal Cheryl Arcibal GetYourGuide, an online travel start-up, is making a push into the Hong Kong market to offer more experiential tours in the city amid a changing attitude among mainland Chinese tourists who are spending less on goods and prefer authentic cultural experiences. The Berlin-based company is looking to attract more experiential tour providers in the city to its platform, given the room for growth and the opportunity to put Hong Kong back on the map. The group currently offers 200 such tours in the... https://www.scmp.com/business/article/3285059/getyourguide-spur-shareable-experiences-hong-kong-tourists-change-their-habits?utm_source=rss_feed https://www.scmp.com/business/article/3285059/getyourguide-spur-shareable-experiences-hong-kong-tourists-change-their-habits?utm_source=rss_feed Mon, 04 Nov 2024 04:19:41 +0000 Singapore-based mixed martial arts promotion ONE Championship said on Thursday it has laid off “a few dozen employees” as part of plans to make the company profitable. ONE, which has offices in several Asian cities plus Los Angeles, New York, London and Milan, has 201-500 employees, according to its LinkedIn profile. “On Wednesday, ONE Championship made the difficult decision to lay off a few dozen employees as part of its overall strategic plan to bring the company to profitability in the... https://www.scmp.com/sport/martial-arts/mixed-martial-arts/article/3282791/one-championship-makes-few-dozen-job-cuts-amid-plans-bring-company-profitability?utm_source=rss_feed https://www.scmp.com/sport/martial-arts/mixed-martial-arts/article/3282791/one-championship-makes-few-dozen-job-cuts-amid-plans-bring-company-profitability?utm_source=rss_feed Thu, 17 Oct 2024 11:51:44 +0000 Bloomberg Bloomberg Singapore’s CapitaLand Investment is in advanced talks to buy a minority stake in luxury resort chain Club Med from its Chinese owner Fosun International, according to people with knowledge of the matter. The real estate investment firm, part of Temasek Holdings-owned conglomerate CapitaLand Group, is seeking to acquire from 20 to 30 per cent of the hotelier for several hundred million euros, the people said, asking not to be identified because the information is private. The Singaporean firm... https://www.scmp.com/business/china-business/article/3278864/chinas-fosun-talks-sell-stake-club-med-singapores-capitaland?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3278864/chinas-fosun-talks-sell-stake-club-med-singapores-capitaland?utm_source=rss_feed Tue, 17 Sep 2024 07:20:04 +0000 A convicted oil tycoon’s mansion is being sold for nearly S$4 million (US$3.1 million) off its original asking price, in a sign of the pressure on valuations in Singapore’s high-end market despite a recovery in sales. The so-called good class bungalow, co-owned by Lim Oon Kuin, founder of collapsed oil firm Hin Leong Trading, is being bought for S$39.2 million, according to a property filing. That compares to a listing price of S$43 million when it was put on the market by property agent Knight... https://www.scmp.com/news/asia/southeast-asia/article/3275760/convicted-singapore-tycoons-mansion-sold-us31-million-discount?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3275760/convicted-singapore-tycoons-mansion-sold-us31-million-discount?utm_source=rss_feed Sat, 24 Aug 2024 08:01:04 +0000 Bloomberg Bloomberg Singapore’s state-owned Temasek Holdings plans to invest US$30 billion in the US market over the next five years as the firm remains cautious on putting money into China. “The Americas is going to be and continue to be the largest recipient of capital,” Jane Atherton, Temasek’s head of North America, said in an interview Monday. Temasek’s investments for North and South America surpassed China for the first time in at least a decade this year. Americas investments now account for 22 per cent, or... https://www.scmp.com/business/banking-finance/article/3272399/singapores-temasek-invest-us30-billion-us-over-five-years?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3272399/singapores-temasek-invest-us30-billion-us-over-five-years?utm_source=rss_feed Tue, 30 Jul 2024 03:00:09 +0000 Singapore’s S$389 billion (US$288 billion) sovereign wealth fund Temasek Holdings has outlined a resilient, diversified investment strategy for its 50th year of operations, focused on long-term plays in China and key sectors like healthcare and agriculture. In its annual review this week, the fund announced its net portfolio had increased by S$7 billion (US$5.18 billion), cementing its status as the world’s 11th largest sovereign wealth fund, according to Global SWF, a platform that tracks such... https://www.scmp.com/week-asia/economics/article/3269995/singapores-us288-billion-temasek-stays-bullish-china-eye-us-india?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3269995/singapores-us288-billion-temasek-stays-bullish-china-eye-us-india?utm_source=rss_feed Thu, 11 Jul 2024 04:00:14 +0000 Cheryl Arcibal Cheryl Arcibal Singapore-based Seatown Private Credit Master Fund has filed a winding-up petition against a unit of Guangzhou R&F Properties over unpaid principal and interest of about US$614 million, according to a filing by the embattled developer. A hearing for the petition against Trillion Glory is scheduled before the Hong Kong High Court on September 25, R&F said in its disclosure to the Hong Kong stock exchange on Tuesday. Seatown is one of the lenders of the loan in question, holding 18 per cent of the... https://www.scmp.com/business/article/3269797/unit-chinese-developer-rf-properties-faces-winding-petition-singapore-fund?utm_source=rss_feed https://www.scmp.com/business/article/3269797/unit-chinese-developer-rf-properties-faces-winding-petition-singapore-fund?utm_source=rss_feed Tue, 09 Jul 2024 11:22:24 +0000 Enoch Yiu Enoch Yiu The government-owned Hong Kong Investment Corporation (HKIC), which manages HK$62 billion (US$8 billion) of funds, has embarked on its investment journey, forming partnerships with key players to foster innovation and technology in the city. The HKIC on June 24 struck a deal with Beijing-based Biomap – a biotechnology firm launched by Chinese internet giant Baidu’s founder Robin Li Yanhong – to set up an accelerator called BioMap InnoHub to support more than 50 early stage research projects in... https://www.scmp.com/business/banking-finance/article/3268312/what-hkic-and-why-it-so-important-hong-kongs-economic-development?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3268312/what-hkic-and-why-it-so-important-hong-kongs-economic-development?utm_source=rss_feed Fri, 28 Jun 2024 01:30:16 +0000 Hong Kong faces a pressing need to redefine its approach to innovation and risk. To thrive amid evolving global dynamics, the city must embrace a shift away from the pervasive fear of failure that is stifling creativity and curtailing risk-taking, hindering the potential of individuals and businesses alike. In a world where betting on oneself has become the cornerstone of value creation, Hong Kong must foster a climate that encourages bold decisions and recognises the educational value of... https://www.scmp.com/opinion/hong-kong-opinion/article/3267251/why-hong-kong-needs-embrace-failure-succeed?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3267251/why-hong-kong-needs-embrace-failure-succeed?utm_source=rss_feed Thu, 20 Jun 2024 12:30:09 +0000 Temasek Holdings, Singapore’s sovereign wealth fund, cut its stake in the Industrial and Commercial Bank of China (ICBC) twice in one day last week, reducing its share of the lender to less than 5 per cent. The state investor first trimmed its allocation in China’s biggest bank by selling 825 million H-shares at an average price of HK$4.7 each on May 27, taking its stake from 6.01 per cent to 5.06 per cent, AA Stocks reported on Tuesday. This was followed by a further cut of HK$408 million on... https://www.scmp.com/business/banking-finance/article/3265393/singapores-temasek-trims-stake-icbc-chinas-slumping-property-market-dents-state-lenders-profits?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3265393/singapores-temasek-trims-stake-icbc-chinas-slumping-property-market-dents-state-lenders-profits?utm_source=rss_feed Tue, 04 Jun 2024 15:09:48 +0000 InnoVen Capital Group, a leading Southeast Asian venture debt provider, has bulked up its cash hoard to finance China’s early-stage companies, as challenges ranging from China’s slow economic recovery to regulatory uncertainties are limiting start-ups’ access to funding. The Singapore-headquartered venture debt company, announced on Friday that it had completed a US$130 million first close for its second China fund, which is a dollar-yuan dual currency fund with a total target size of US$250... https://www.scmp.com/business/banking-finance/article/3249871/singapore-venture-financier-innoven-eyes-chinas-technology-start-ups-after-us130-million-fundraising?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3249871/singapore-venture-financier-innoven-eyes-chinas-technology-start-ups-after-us130-million-fundraising?utm_source=rss_feed Fri, 26 Jan 2024 05:45:20 +0000 Saudi Arabia’s Public Investment Fund (PIF) emerged as the world’s most active sovereign investor last year, boosting its deal activity even as most global peers including GIC and Temasek Holdings slashed spending. PIF deployed US$31.6 billion in 2023, according to research consultancy Global SWF. That was higher than the US$20.7 billion it invested the previous year, an increase that contrasts with a wider trend – globally state-owned investors deployed US$124.7 billion, about a fifth less than... https://www.scmp.com/business/banking-finance/article/3246866/saudi-arabias-public-investment-fund-outpaces-singapores-gic-us316-billion-splurge-2023?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3246866/saudi-arabias-public-investment-fund-outpaces-singapores-gic-us316-billion-splurge-2023?utm_source=rss_feed Mon, 01 Jan 2024 06:35:16 +0000 Xinmei Shen Xinmei Shen Several high-profile venture capital (VC) firms in Asia, including Singapore’s Temasek Holdings, Japan’s SoftBank Group and Sino Global Capital in Hong Kong, are among defendants in a new class action lawsuit in the US for their roles in the collapse of FTX. The VC firms, along with several of their subsidiaries, are accused of “aiding and abetting” and possibly “actively participating in the FTX Group’s massive multibillion-dollar global fraud”, in a complaint filed earlier this week to the... https://www.scmp.com/tech/tech-trends/article/3230624/crypto-investors-sue-asian-venture-capital-firms-aiding-and-abetting-ftx-naming-temasek-softbank-and?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3230624/crypto-investors-sue-asian-venture-capital-firms-aiding-and-abetting-ftx-naming-temasek-softbank-and?utm_source=rss_feed Thu, 10 Aug 2023 08:00:07 +0000 Xinmei Shen Xinmei Shen Blockchain game software unicorn Animoca Brands is injecting US$30 million into Hi, a cryptocurrency exchange start-up also based in Hong Kong, even as funding dwindles for similar businesses worldwide amid growing regulatory risks and economic uncertainties. The investment is part of a new strategic partnership between Hi and Animoca, one of the most active investors in the Web3 space known for operating the non-fungible token (NFT) game The Sandbox, the companies announced on Thursday. Hi was... https://www.scmp.com/tech/tech-trends/article/3229128/hong-kong-crypto-game-unicorn-animoca-brands-pours-us30-million-crypto-exchange-start-hi-amid-web3?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3229128/hong-kong-crypto-game-unicorn-animoca-brands-pours-us30-million-crypto-exchange-start-hi-amid-web3?utm_source=rss_feed Thu, 27 Jul 2023 11:02:00 +0000 Singapore’s state-owned investor Temasek Holdings Pte warned of an uncertain road ahead as it chalked up its worst showing in seven years. The firm with S$382 billion (US$284 billion) in assets posted a total shareholder return of -5.07 per cent for the year ended March 31, the poorest annual performance since 2016. It also suffered a rare net loss. Its net portfolio value fell from the S$403 billion (US$300 billion) it held a year earlier. The company said the performance declines were led by a... https://www.scmp.com/news/asia/east-asia/article/3227305/singapores-temasek-posts-worst-performance-7-years-remains-positive-china-tech-despite-markets-slump?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3227305/singapores-temasek-posts-worst-performance-7-years-remains-positive-china-tech-despite-markets-slump?utm_source=rss_feed Tue, 11 Jul 2023 09:04:15 +0000 Singapore’s Prime Minister Lee Hsien Loong said on Wednesday that he is “finally Covid free”, six days after testing positive again for the disease. Lee first tested positive for Covid-19 on May 22. He said on May 28 that he was Covid-19 negative and would return to work, before testing positive again on June 1 due to a “Covid rebound”. “Delighted to be finally Covid free so I could catch up with Indonesian President Joko Widodo and his wife Ibu Iriana, over a chicken rice lunch today – one of... https://www.scmp.com/news/asia/southeast-asia/article/3223301/singapore-pm-lee-hsien-loong-finally-covid-free-after-testing-positive-again-6-days-ago-due-rebound?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3223301/singapore-pm-lee-hsien-loong-finally-covid-free-after-testing-positive-again-6-days-ago-due-rebound?utm_source=rss_feed Wed, 07 Jun 2023 12:39:12 +0000 Reuters Reuters Singapore state investor Temasek Holdings said on Monday it had cut compensation for the team that recommended its investment in the now-bankrupt FTX cryptocurrency exchange, as well as for its senior management team. The move comes around six months after Temasek initiated an internal review of its investment in FTX, which resulted in a writedown of US$275 million. “Although there was no misconduct by the investment team in reaching their investment recommendation, the investment team and... https://www.scmp.com/news/asia/southeast-asia/article/3222127/singapores-temasek-cuts-pay-staff-over-us275-million-ftx-fiasco-we-are-disappointed?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3222127/singapores-temasek-cuts-pay-staff-over-us275-million-ftx-fiasco-we-are-disappointed?utm_source=rss_feed Mon, 29 May 2023 00:57:15 +0000 The world’s biggest institutional investors are at odds over Chinese stocks just months after singing from the same song sheet. While Michael Burry, the money manager of “The Big Short” fame, and Singapore’s sovereign wealth fund Temasek have been building up their positions in Chinese stocks, China bull Ray Dalio has continued to dial down his exposure amid geopolitical tensions. Burry, who predicted the 2008 housing crash in the United States, bulked up his stake in JD.com by 233 per cent to... https://www.scmp.com/business/markets/article/3220716/michael-burry-big-short-fame-temasek-bulked-jdcom-alibaba-first-quarter-even-china-bull-ray-dalio?utm_source=rss_feed https://www.scmp.com/business/markets/article/3220716/michael-burry-big-short-fame-temasek-bulked-jdcom-alibaba-first-quarter-even-china-bull-ray-dalio?utm_source=rss_feed Tue, 16 May 2023 08:36:48 +0000 The idiom “practise what you preach” holds people to account for their behaviour, at the risk of being labelled hypocrites if they do otherwise. In the case of the Hong Kong Monetary Authority the risk if it had not practised what it preached may now be measured in hundreds of millions, if not billions of dollars. That would have been the extent of losses to the Exchange Fund, Hong Kong’s war chest to defend its dollar against attacks by speculators. The impact on the fund – money that belongs... https://www.scmp.com/comment/opinion/article/3201605/wise-decision-saves-hong-kongs-exchange-fund-far-bigger-battering?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3201605/wise-decision-saves-hong-kongs-exchange-fund-far-bigger-battering?utm_source=rss_feed Wed, 30 Nov 2022 22:45:14 +0000 Kimberly Lim Kimberly Lim Singapore’s Temasek Holdings has suffered “reputational damage” due to its investment in the now-collapsed FTX cryptocurrency business, Deputy Prime Minister Lawrence Wong said on Wednesday, in a rare criticism of one of the world’s most influential state-owned investors. Temasek, the majority-owner of Singapore’s biggest corporate brands including Singapore Airlines and Singtel, said on November 17 that it had written down its entire US$275 million investment, describing its faith in FTX... https://www.scmp.com/week-asia/economics/article/3201569/temasek-suffered-reputational-damage-over-ftx-losses-conducting-internal-review-singapore-dpm?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3201569/temasek-suffered-reputational-damage-over-ftx-losses-conducting-internal-review-singapore-dpm?utm_source=rss_feed Wed, 30 Nov 2022 10:52:42 +0000 TODAY TODAY The millions of losses that Temasek Holdings made from investing in cryptocurrency firm FTX is an “egg on (the) face”, but Singapore’s state investment firm “is not fazed by the twiddles and sentiments of the market”, said Ho Ching, who chairs the board of its philanthropic arm Temasek Trust. In a November 26 Facebook post, Ho described Temasek’s full write down of its US$275 million investment in FTX as one borne of a clear decision, but that was still a painful loss to bear. “A loss in what... https://www.scmp.com/news/asia/southeast-asia/article/3201431/temaseks-loss-ftx-egg-face-it-unfazed-twiddles-market-ho-ching?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3201431/temaseks-loss-ftx-egg-face-it-unfazed-twiddles-market-ho-ching?utm_source=rss_feed Tue, 29 Nov 2022 10:58:20 +0000 Stronger disclosure and liquidity management rules are needed to prevent volatility in the cryptocurrency ecosystem from infecting the financial system in times of market disruption, according to a study by Hong Kong Monetary Authority (HKMA) researchers. Such reporting for stablecoin issuers and restrictions on the composition and redemption of reserve assets backing their values are needed, given lessons from the mass redemptions in Tether in May this year amid the collapse of Terra USD, both... https://www.scmp.com/business/banking-finance/article/3200490/hkma-researchers-say-stronger-disclosure-and-liquidity-oversight-stablecoins-needed-stem-volatility?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3200490/hkma-researchers-say-stronger-disclosure-and-liquidity-oversight-stablecoins-needed-stem-volatility?utm_source=rss_feed Tue, 22 Nov 2022 02:48:05 +0000 Xinmei Shen Xinmei Shen Temasek Holdings, the Singaporean state holding company, said it will write down its entire US$275 million investment in FTX, becoming the single biggest victim to date in the collapse of the world’s second-largest cryptocurrency exchange, which has so far claimed the fortunes of millions of individual traders and the most established professional investors. “It is apparent from this investment that perhaps our belief in the actions, judgment and leadership of Sam Bankman-Fried, formed from our... https://www.scmp.com/tech/tech-trends/article/3199942/singapores-state-owned-temasek-writes-down-entire-us275-million-investment-ftx-fallout-collapsed?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3199942/singapores-state-owned-temasek-writes-down-entire-us275-million-investment-ftx-fallout-collapsed?utm_source=rss_feed Thu, 17 Nov 2022 07:30:24 +0000 Temasek Holdings Chief Executive Officer Dilhan Pillay runs a US$290 billion state-owned investment empire. But every quarter he spends up to two hours chatting to a man in Indonesia about fish. Those lengthy calls with Bandung-based eFishery, a start-up so small it only accounts for 0.01 per cent of Temasek’s portfolio, are emblematic of its quiet zeal for the business of food. The precarious state of the world’s food supply, highlighted by sizzling heatwaves that are wilting crops in Europe,... https://www.scmp.com/news/asia/southeast-asia/article/3186589/singapores-temasek-bets-big-food-worlds-supply-falters?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3186589/singapores-temasek-bets-big-food-worlds-supply-falters?utm_source=rss_feed Tue, 26 Jul 2022 03:13:01 +0000