Stuff.co.nz, 9 Apr 2009
Singapore's Temasek, like other Asian and Middle Eastern sovereign wealth funds, is digging for deals in mining and oil, as it licks its wounds from financial sector investments.
The state investor is eyeing "aggressively sized" resource assets and could do a deal in the $5 billion range, a source familiar with the situation told Reuters, declining to be identified due to the sensitive nature of such deals.
Energy and resources make up just 5 percent of Temasek's portfolio, worth S$127 billion ($84 billion) at end-November.
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