Did Temasek lose more than S$500 million selling 63 million StandChart shares to GIC?
For years, Temasek owned 18% of StandChart (high of 19%). Some time in 2016, this was reduced to 16%. It appears the 63.8 million shares (link) amounting to an estimated S$765 million were sold to GIC. (estimated StandChart share price BP6, 1BP = S$2) Point to note is Temasek had invested in StandChart at prices of...
Puzzle Bargain
I find PUB's reasoning for taking over the Hyflux desalination plant quite puzzling. It says Tuas Spring has "negative value" which implies that the intended take over by PUB at Zero value is actually "helping" Hyflux. But Tuas Spring has a "negative value" because of its huge amount of debt that exceeds its book value. Is PUB...
HoHoHo: StanChart CEO learning from our ministers
He also gets a free pass from Temasek. FT reports that StanChart is facing an investor rebellion over its chief executive’s pay after the bank changed how it calculated his pension in a way that falls foul of UK corporate governance guidelines. This comes as executives at the UK’s largest listed banks are being subjected...
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