Singapore State Firms are Most Acquisitive in 2013

TODAY

15 May 2014

GIC and Temasek Holdings are set to lead global sovereign investors in acquisitions for a second year after emerging as the most active in 2013.

The US$15.7 billion (S$19.6 billion) spent by both companies accounted for about a third of direct investments by state investors globally last year, data compiled by the London-based Institutional Investor’s Sovereign Wealth Center showed.

This year, major investments have already been announced: Temasek and one of its units announced two purchases in March, amounting to US$8.9 billion, or 57 per cent of what the two firms invested last year, data compiled by Bloomberg showed.

The acquisitions may set the momentum for Temasek and GIC amid signs of a global recovery: United States data on exports and consumer confidence released this month added to a spate of statistics showing the world’s largest economy is gaining steam heading into the second quarter, with other economies also showing signs of stability and growth.

… Singapore’s political stability and the size of its economy are helping GIC and Temasek to have better access to overseas markets, said Dr Friedrich Wu, an adjunct associate professor at Nanyang Technological University.

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