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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, Market

Singapore PM kills “Temasek II” idea to help local firms

Posted on 28 May 2009

From Reuters: The Singapore government will help nurture local companies compete in international markets, but will not force its sovereign wealth fund Temasek to finance them as suggested by some legislators, Prime Minister Lee Hsien Loong told parliament on Wednesday.

“Government wants to help companies grow, is trying many ways and is willing to do more,” Lee said. “But we don’t believe that this can be done by the government by simply pouring money, or creating a ‘Temasek II,’ he said…….Full Article: Source


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