Divestments part of global portfolio management: Temasek

0 Comments | AFP, March, 2006

SINGAPORE (AFP) — Share sales by Temasek Holdings, which have raised more than 2.0 billion dollars (1.25 billion US) this week, are part of efforts to manage its multi-billion-dollar global portfolio, the state-linked investment firm said.

Temasek said the sales were not to fund its acquisition of Thai telecom giant Shin Corp. because that purchase has been fully funded and completed.

"This is part of our ongoing efforts to actively manage our portfolio to maximise shareholder value. We manage our portfolio on an active basis," Temasek spokeswoman Rachel Lin said.

Temasek this week raised about 2.0 billion dollars from the sale of a 4.7 percent stake in Singapore Telecommunications (SingTel), Southeast Asia's largest phone compny, along with 118.6 million...