Correspondent

HK protests hit Watson’s business derailing Temasek’s US$3b Watson sale to potential buyers

Bloomberg reported yesterday (3 Sep) that potential investors have backed off buying over Temasek Holdings’ US$3 billion stake in retailer A.S. Watson Group. Temasek, which owns a 25% stake of Watson Group, was considering selling about 10% of the retailer to potential investors. Bloomberg reported that Temasek was in talks with Abu Dhabi’s sovereign wealth fund, Chinese internet giants Tencent …

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Indian Minister: Temasek-linked GLCs agree to “amicably back out” of Amaravati project

It was reported in Parliament yesterday (3 Sep) that Minister-in-Charge of trade relations S Iswaran said no state expenditure was involved in the Indian capital city Amaravati development. Under the previous Indian state government of Andhra Pradesh, it was decided that Amaravati would be the location of the new Indian state capital. Temasek-linked entities Ascendas-Singbridge, now under CapitalLand, and Sembcorp …

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Netizens question compulsory CareShield; One year of free scholarships to foreign students equivalent to 16 years’ ElderShield payouts

Yesterday (2 Sep), the CareShield Life Bill was passed in the PAP-dominated Parliament after its second reading, forcing Singaporeans who were born in 1980 or after to pay compulsory insurance fees starting next year. So, come next year, those aged 30 to 40 must join CareShield Life and start paying premiums. Future cohorts will join at the age of 30. …

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Singapore’s richest man in 2019 is ex-mainland Chinese Zhang Yong – hotpot king

According to the latest Forbes Singapore Rich List (2019), Singapore’s richest person is a former mainland Chinese Zhang Yong with a net worth of US$13.8 billion. Zhang is the founder of Haidilao International, running a chain of hotpot restaurants. He was featured previously among China’s richest and is now a naturalized Singapore citizen. Zhang replaces real estate siblings Robert and …

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