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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Singapore slings arrows at bank

Posted on 04 October 2012

Temasek Holdings Pte. Ltd., the Singapore state investment company that is the biggest shareholder of Standard Chartered, has been expressing its discomfort with the bank’s governance and is pressuring it to appoint more independent directors, people familiar with the investment company said.
Temasek, which owns an 18% stake in Standard Chartered, doesn’t have any immediate plans to sell its shares in the bank, people familiar with the investment company said. To register its unhappiness with the bank, it abstained from voting for the re-election of the nonexecutive directors to the board in May, one of the people said………………………………………..Full Article: Source


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