Asia Times Online, 30 Aug 2008, Chan Akya
"Temasek Holdings, an investment arm of the Singapore government, this week found itself in the position of actually having to express confidence in John Thain, the head of Merrill Lynch. This follows a disastrous multi-billion dollar investment in Merrill by Singaporeans. With the most recent capital raising done by Merrill denting market confidence in Thain - he had promised barely a few weeks ago that there was no need for Merrill to raise additional capital - it then become important for Temasek to issue the statement."
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