Financial Times, 6 Oct 2008, John Burton
Temasek Holdings, the Singapore state investment company, plans to use the proceeds from the sale of an Indonesian bank last week to make more investments in the Asian financial sector.
Among the possible acquisition targets would be some overseas financial assets of General Electric if they are put up for sale. GE has suggested it will scale back operations of GE Capital, its financial arm, in response to the credit crunch. GE recently sold its consumer finance unit in Japan to Shinsei Bank.
GE, which declined to comment, has stakes in several regional banks, including GE Money Bank in the Philippines, Taiwan's Cosmos Bank and Thailand's Bank of Ayudhya.
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