Bloomberg.com, 26 Aug 2008, Lee J. Miller
"Temasek Holdings Pte, one of Singapore's two sovereign wealth funds, became Merrill's biggest shareholder when it bought about 5 percent of the third-biggest U.S. securities firm on Dec. 24. Officials said last week the fund would add to its $5.9 billion investment if they're convinced Merrill will rebound.
The CHART OF THE DAY shows that Singapore's quarterly economic output exceeded the market value of New York-based Merrill for the first time on March 31 and again in the three months ended June. Singapore's economy grew to S$58.2 billion ($41 billion) in the second quarter, while Merrill's market value has slumped about 45 percent this year to $37 billion."
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