Temasek to set up shop in India

Singapore-based investment agency Temasek Holdings has decided to open an office in Mumbai as part of a plan to expand operations here and t...

Singapore-based investment agency Temasek Holdings has decided to open an office in Mumbai as part of a plan to expand operations here and tap investment opportunities. The operations will be headed by McKenzie & Co partner Manish Kejriwal. The financial powerhouse said the move reflects Temasek’s optimism in the potential of the Indian market as well as its commitment to participating in and contributing to India’s growth and success at a time when the Indian economy is at a point of inflexion. It will evaluate opportunities in multiple sectors.

However, it will focus primarily on making direct investments in companies with positive growth potential. Temasek will also work with other Temasek-linked companies to identify investment opportunities in India.

Reuters on Friday said Singapore deputy prime minister Lee Hsien Loong plans to come on an official visit to India along with Temasek’s executive director. The agency pointed out Temasek’s recent acquisition of 14 per cent equity stake in Indian drug firm Matrix Laboratories in a $67 million deal. Temasek has been on an acquisition spree in Indonesia, India and the US to improve investment income and develop new areas of growth for the Singapore economy, Reuters said. Temasek, in partnership with Standard Chartered Private Equity, is setting up a $100 million India focused private equity fund. Established in 1974, Temasek Holdings (Pvt) Limited manages investments in companies which are involved in a wide range of business activities from port, shipping and logistics to banking and financial services, airlines and telecom.