Temasek Sets Up New Investment Firm: Seatown Holdings
Temasek Holdings has set up a new investment company called Seatown Holdings.
According to the statement, Temasek’s senior managing director and chief strategist Charles Ong will be the chief executive of the new company. Mr Ong said Seatown is a global investment company, wholly-owned by Temasek Holdings.
Dow Jones reported that Seatown Holdings will have an investment capital of around US$3 billion and would focus on investments in emerging markets with an emphasis on Asia.
I don't know if this is good news or not but Seatown will eventually open its doors to Singapore’s citizens, allowing them to co-invest with the sovereign fund.
Actually, all these investment stuff is very confusing for ordinary Singaporeans. How different will Seatown’s investment mandate be from Temasek Holdings or Fullerton Fund Management which was established a few years ago?
By the way, Professor Huang, from Massachusetts Institute of Technology (MIT), has launched a tirade against Singapore’s state-linked enterprise model dominated by GIC and Temasek Holdings.
“Nine out of 10 investment projects fail. Does the government have such a high tolerance for risk? It’s taxpayers’ money, right? I don’t think, politically, it’s legitimate for the government to keep investing in failing individuals and failing projects. How do you defend these decisions?,” he asked.
Investing sure got win and lose one lah but main thing is, don't invest in products which you don't understand. I guess Seatown Holdings is not for me...
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