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发表于 16-4-2008 08:45 AM
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原帖由 ThermoFisher 于 28-3-2008 02:21 PM 发表 
从淡马锡手中买来的东西不是太贵，就是没有什么价值，想占新加坡的便宜，想都别想。。
新闻。
Temasek likely to offload more assets, conserve cash
Published: 2008/04/16
SINGAPORE: Singapore state investor Temasek, sitting on paper losses of US$1.2 billion (US$1 = RM3.17) for its investments in Merrill Lynch and Barclays, is expected to shed more assets and conserve cash to offset its exposure to the ailing Western financial sector.
Analysts said the sovereign fund, which recently unloaded an Indonesian bank and a Singapore power producer, may choose to consolidate its hefty holdings in Chinese banks. Temasek last year was among the early big investors to call the top of the market, selling down part of its stakes in two big China lenders.
"We expect that increasingly investments will be funded out of sale of current investments. So as they continue to rebalance their portfolio there could be temporary or medium-term requirement for more resources," said Anshukant Taneja, who covers Temasek as a credit analyst at Standard & Poor's.
Temasek's US$121 billion portfolio is weighted towards the financial sector, with 38 per cent of its holdings in either banks or financial services.
Taneja said that the large exposure could have a bearing on returns, but does not threaten its top credit ratings.
Temasek, headed by Ho Ching, the wife of Singapore Prime Minister Lee Hsien Loong, joined other state funds from the Middle East and Asia to provide lifelines to US and European banks stung by the collapse of the US subprime mortgage market.
But Merrill shares have fallen 11 per cent since Temasek invested US$4.4 billion in the firm and Barclays' stock price is down 38 per cent since July when it raised US$1.9 billion from Temasek and US$3.5 billion from China Development Bank to fund a bid for ABN AMRO.
Temasek decided not to exercise its option to buy another US$600 million worth of Merrill shares last month after the Wall Street bank's shares fell below the option price of US$48.
Temasek currently holds stakes in Bank of China, China Construction Bank and medium-sized Chinese lender Minsheng Banking Corp.
Of the three, Minsheng is the likeliest target for sale given that it is more vulnerable than its bigger peers to monetary tightening and higher cost pressures, Temasek watchers said.
Minsheng does not have as strong a deposit-taking franchise as other large banks to support a low deposit cost structure, Morgan Stanley said in a report last month.
Temasek owns close to four per cent of Minsheng, a stake now worth about US$950 million.
Last month, Temasek raised over US$3 billion by selling Singapore power firm Tuas Power to China's Huaneng and offloaded its 42 per cent stake in Indonesia's sixth-biggest lender, Bank Internasional Indonesia, to Malaysia's top lender Malayan Banking Bhd for US$1.1 billion. - Reuters
http://www.btimes.com.my/Current_News/BTIMES/Wednesday/Corporate/tsek-2.xml/Article/index_html |
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