How Temasek keeps its distance while working with boards
SINCE it began its approach of greater engagement with its portfolio companies, Temasek has seen a value uplift “north of S$10 billion”.
Some of the corporate action that generated this uplift were:
CapitaLand’s acquisition of real estate group Ascendas-Singbridge in 2019, and its subsequent restructuring into a listed real estate investment manager and a privately held real estate developer in 2021;
A capital raising exercise for Singapore Airlines : C6L 0% in 2020, to strengthen the airline’s balance sheet and prepare it for a reopening of borders following the pandemic;
The Sembcorp Industries : U96 0% demerger from Sembcorp Marine in 2020, to focus on opportunities from the energy transition; and
Keppel : BN4 0%’s divestment of its offshore and marine operations in 2022, and its new focus on asset management.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Struggling French tech group Atos weighs financial lifelines
Brokers’ take: DBS cuts Venture Corp price target after Q1 earnings miss
GLP says 2025 bond repayment sources identified
Volvo Cars April sales rise on strong EV demand
KKR to buy India's Healthium Medtech at US$839 million valuation
Adani in talks with banks to borrow US$600 million for gas unit