10.12.2008 - Temasek says divestments to create value, not cover losses
From Bloomberg: Temasek Holdings Pte defended its $2.6 billion of divestments last week, saying the transactions created value for the Singapore sovereign investor and the assets weren’t sold to cover losses on past investments or fund future purchases. The state-owned investment company last week sold its 70 percent stake in Singapore Food Industries Ltd., which operates food outlets in factories, hospitals and army camps, for S$334.5 million ($221 million). It also divested Singapore power generator PowerSeraya Ltd. for about S$3.6 billion..... Full Article: Source