Temasek Holdings
| Temasek Holdings
|
|
|---|---|
 |
|
| legal form | Limited |
| founding | 1974 |
| Seat |
 Singapore
|
| management | Ho Ching |
| Branch | Holding company |
| Website | temasek.com.sg |
Temasek Holdings ( chin.淡马锡控股) is the holding company of the Singapore government. Its primary goal is to support companies with good growth prospects with capital and thus to promote the economic development of the city-state.
history
In the early 1960s, the Singapore government acquired shares in a number of Singaporean companies that were active in manufacturing and shipbuilding. Until the founding of Temasek Holdings in 1974, these shares were held by the Treasury, which then became the sole shareholder in the new investment company.
Another government tool for investment is the Government of Singapore Investment Corporation (GIC), which primarily invests the government's currency reserves.
Ho Ching , the Prime Minister's wife, has been Chief Executive Officer since 2004. The Chairman of the Board of Directors is S Dhanabalan.
Holdings
Temasek Holdings has interests in many of the largest Singaporean companies such as ST Engineering (50%), Keppel Corporation (20%), SingTel (63%), DBS Bank (28%), Singapore Airlines (57%), PSA International ( 100%), SMRT Corporation (62%), Singapore Power and Neptune Orient Lines (68%). There are also investments in foreign companies, for example in Indonesia , Malaysia , Thailand and Australia ( Qantas Airways ). Temasek Holdings also has interests in the Chinese banks Bank of China (11.7%) and China Construction Bank (5.1%). The stake in the Bank of China is the second largest of a foreign company in one of the major Chinese banks.
Temasek Holdings is 75% active in Singapore, but wants to reduce this percentage to a third. To this end, activities in developing countries and developed countries are to be expanded (one third each).
Since spring 2014, Temasek has held a 24.95% stake in AS Watson , the retail arm of CK Hutchison Holdings . AS Watson, in turn, holds 40% of the German drugstore chain Rossmann , holds shares in the French perfumery chain Marionnaud Parfumeries , the Dutch-Belgian drugstore chain Kruidvat , the British drugstore chains Superdrug and Savers and the supermarket chain ParknShop in Hong Kong.
criticism
Temasek received international attention from the military coup in Thailand , which ousted Prime Minister Thaksin Shinawatra . The background to this is the acquisition of 49.6% of the Thai Shin Corporation . The Shinawatra family sold their shares in his company empire for $ 1.85 billion after he passed a small change in law shortly before the sale was closed. The result of this change in law was that he did not have to pay any taxes on the sales proceeds. The corruption allegations directed at Thaksin were dealt with by courts in the following years.
Web links
- Temasek Holdings
- Singapore buys in Germany - FAS No. 29/2018
Individual evidence
- ↑ Manfred Rist: A shadow over the clean men. www.nzz.ch, January 14, 2018, accessed on January 14, 2018 .
- ↑ Thaksin helps himself. www.economist.com, January 26, 2006, accessed September 9, 2019 .
- ↑ Thaksin faces tax demand on Shin sale. www.nationthailand.com, March 15, 2017, accessed September 9, 2019 .