FT.com
16 Apr 2008
Temasek Holdings, the Singapore state investment company, said Tuesday it had invested an additional $600m in Merrill Lynch in February, despite a paper loss on its earlier $4.4bn investment in Merrill last year. GIC, the city state’s biggest sovereign wealth fund, is meanwhile considering entering a new capitalisation programme for UBS after investing almost $10bn in the Swiss bank in January and posting paper losses on its investment. Analysts have criticised Temasek and GIC for making what appeared to be premature investments in several big western financial institutions at the height of the credit crunch.
http://ftalphaville.ft.com/blog/2008/04/16/12352/temasek-unfazed-adds-to-merrill-stake/
