by invoking a material adverse change (MAC) clause following the company's poor financial results. ... Temasek abandons $3 billion bid for Keppel after conglomerate's loss FILE PHOTO: A Temasek logo is seen at the annual Temasek Review in Singapore. He started off the article with the background of Ivanhoe Mines, which was the original name of the mining company before it was changed to Turquoise Hills. I mean, it’s not like the virus means those big companies suddenly go bankrupt right? But with commitment, resilience and by working together, we will come through it. (Bloomberg) — Temasek Holdings Pte.’s investments in China surpassed those in its home market of Singapore for the first time following gains by companies including Alibaba Group Holding Ltd., according to the state investment company’s annual report. Keppel, whose businesses range from property development to rig-building, swung to a net loss … To put things into perspective, as of 31 March 2019, the net portfolio value was S$313 billion, up 1.6% from the previous year. Temasek Holdings (Private) Limited (Temasek) is a Sovereign Wealth Fund located in Singapore Singapore, Asia, and was founded in 1974. The blogger explained that Rio had to write off about US$1 billion impairment on their investment and was facing investor revolt in the handling of the Oyu Tolgoi project. In 2010 the reserves were placed at 81.3 billion pounds for copper and 46.4 million ounces for gold,” he wrote. And that’s not my words. This makes the total realised loss of … Lest you think I’m pulling this number out of my behind, this was done by a Bloomberg analysis. Stomp reported that the police... Deputy Prime Minister and Finance Minister Heng Swee Keat will be delivering his Singapore Budget 2021 statement in Parliament on 16 February. Although Temasek was not listed as a major shareholder in the Turquoise Hills’ SEC Filling 2020, Pat Low noted that the balance shares might have been “disposed”. We also get your email address to automatically create an account for you in our website. On 27 August 2019, Temasek Review published an article titled “Bloomberg: Singapore in bad debts”.. Relying primarily on a Bloomberg article published on the same date (see here), the article made a number of allegations directed primarily at Singapore’s sovereign wealth funds, Temasek Holdings and the Government Investment Corporation (GIC).. Last October, Temasek offered to increase its one-fifth stake in Keppel to 51%. This brings the total... China has confirmed its first case of a new coronavirus variant that was recently detected in Britain, health officials said. “As at 31 Dec 2013 Temasek was holding 172 m shares costing more than US$1.3b. Before all these apocalypse talks started, Temasek was actually doing pretty well despite things like the US-China trade war. This makes the total realised loss of the investment at about US$1.1b.”, He continued, “If the balance of 100,254,432 shares are still in Temasek’s books, the unrealised loss as of to date is about US$697m.”. In the last few years, mala stalls have popped up in almost every coffeeshop, and people have been flocking... Singapore may have finally eased into the highly-anticipated Phase 3, but we should not become lax in our fight against the... At first glance, fried chicken skin is nothing short of an absolute nutritional abomination. But uh… what does this have to do with us ordinary poor folks with no money and no stocks? Pat Low also shows Temasek’s investment and divestments in the article, which was based on valuation shown in SEC Filling. Financial Post reported on 24 January 2012 that Ivanhoe and Rio first partnered in October 2006, as Ivanhoe needed help in terms of capital and local political support to develop Oyu Tolgoi copper-gold project. Today’s world is volatile and uncertain. “ [If] that’s the case, it should have realised additional loss in the US$700m ballpark figure. It’s why Temasek employees froze their salary. The firm’s portfolio value even rose by 3% in January. In comparison with the indices and past crises, Temasek’s portfolio was remarkably resilient despite the widespread losses caused by the pandemic. It that's the case, it should have realised additional loss in the US$700m ballpark figure. And the top 12 biggest holdings that were worth US$73.8 billion on 2 Jan 2020 dropped to US$50.3 billion on 20 March. Temasek's net portfolio value fell to 306 billion Singapore dollars ($223.73 billion) for the financial year that ended March 31. Last October, Temasek offered to increase its one-fifth stake in Keppel to 51%. After seeing its returns fall into the red in the first quarter of 2020 – it revealed a 2.28% loss on shareholder returns and a S$7 billion ($5.23 billion) drop in assets for the financial year ending in March – it doubled down on innovative sectors such as life sciences and technology, said Wu Yibing, head of China at the Singapore holdings company. It is not clear if this balance has been divested.”. 2020 COTY: Meet this year's Company Of The Year. Temasek India head Ravi Lambah who is based in Singapore, recently gave an interview to Indian media Business Today, which was published 2 weeks ago (‘Growth not a concern; India fits well in our long-term plan: Temasek India head‘, 27 Oct). Keppel Corp was making loss in Q2/2020, providing an option for Temasek to withdraw the acquisition as cash or capital may be more critical for other Temasek stocks during this period of uncertainty. 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