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Reuters
11-07-2025
- Business
- Reuters
Singapore lender OCBC names insider Tan Teck Long as next CEO
July 11 (Reuters) - Singapore's second-largest bank OCBC ( opens new tab on Friday named insider Tan Teck Long as its new chief executive officer from January 1, 2026. Tan Teck Long will replace Helen Wong, who was the first woman to head a Singapore bank at the time of her appointment. Southeast Asia's largest bank, DBS Group ( opens new tab, appointed its first female chief executive, Tan Su Shan, in August last year. Tan will assume the additional role of deputy CEO with immediate effect, while Wong will remain, post retirement, the chairman of OCBC China and a director of OCBC Hong Kong. The incoming CEO has been head of global wholesale banking since joining OCBC in March 2022.
Yahoo
09-07-2025
- Business
- Yahoo
Temasek Just Dumped $33B -- Here's Where That Money Is Headed Next
Temasek isn't tiptoeing around portfolio shifts. The Singaporean state investor just posted its biggest annual sell-off ever divesting S$42 billion ($33 billion) worth of assets in the fiscal year ending March. At the same time, net portfolio value climbed to a record S$434 billion, boosted by strong performances from key local names like DBS Group (up 42%) and ST Engineering (up 69%). Listed equities now make up more than half its holdings the first time that's happened in four years as public market gains outpaced its private book. Temasek logged an 11.8% one-year return, a sharp rebound from the previous year's 1.6%, with net new investments totaling S$10 billion, including fresh positions in French renewable player Neoen and India's Haldiram Snacks. Warning! GuruFocus has detected 4 Warning Signs with NVDA. But this wasn't just some spring cleaning. We have to be very disciplined in divestments, said CFO Png Chin Yee, pointing to exits ranging from Singapore Airlines bonds to Pavilion Energy (sold to Shell). CIO Rohit Sipahimalani added that the sales were pretty much across the board. China's weighting in the portfolio dropped again now at 18%, down from 29% in 2020 with Mapletree and CapitaLand still managing over S$11 billion in mainland property exposure. Despite some stability, Sipahimalani cautioned that China's property sector is not out of the woods. Meanwhile, the U.S. and India are getting more attention: Temasek's allocation to the Americas rose to 24%, and India climbed to 8%, marking a pivot toward regions with stronger near-term momentum. Temasek is also leaning hard into AI. Stakes in Nvidia (NASDAQ:NVDA), Broadcom (NASDAQ:AVGO), and several AI-focused venture funds anchor a long-term bet that's just getting started. We're not even at the tip of the iceberg yet, said Deputy CEO Chia Song Hwee, who sees a 15- to 20-year runway ahead. Despite April's tariff headlines and political noise, management doesn't expect a global recession, with markets showing more resilience to macro shocks. The strategy now? Exit aging bets, reinvest in secular tailwinds like artificial intelligence and clean energy, and keep reshaping the portfolio with discipline. In Temasek's world, agility isn't optional it's the core playbook. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-07-2025
- Business
- Yahoo
Temasek Just Dumped $33B -- Here's Where That Money Is Headed Next
Temasek isn't tiptoeing around portfolio shifts. The Singaporean state investor just posted its biggest annual sell-off ever divesting S$42 billion ($33 billion) worth of assets in the fiscal year ending March. At the same time, net portfolio value climbed to a record S$434 billion, boosted by strong performances from key local names like DBS Group (up 42%) and ST Engineering (up 69%). Listed equities now make up more than half its holdings the first time that's happened in four years as public market gains outpaced its private book. Temasek logged an 11.8% one-year return, a sharp rebound from the previous year's 1.6%, with net new investments totaling S$10 billion, including fresh positions in French renewable player Neoen and India's Haldiram Snacks. Warning! GuruFocus has detected 4 Warning Signs with NVDA. But this wasn't just some spring cleaning. We have to be very disciplined in divestments, said CFO Png Chin Yee, pointing to exits ranging from Singapore Airlines bonds to Pavilion Energy (sold to Shell). CIO Rohit Sipahimalani added that the sales were pretty much across the board. China's weighting in the portfolio dropped again now at 18%, down from 29% in 2020 with Mapletree and CapitaLand still managing over S$11 billion in mainland property exposure. Despite some stability, Sipahimalani cautioned that China's property sector is not out of the woods. Meanwhile, the U.S. and India are getting more attention: Temasek's allocation to the Americas rose to 24%, and India climbed to 8%, marking a pivot toward regions with stronger near-term momentum. Temasek is also leaning hard into AI. Stakes in Nvidia (NASDAQ:NVDA), Broadcom (NASDAQ:AVGO), and several AI-focused venture funds anchor a long-term bet that's just getting started. We're not even at the tip of the iceberg yet, said Deputy CEO Chia Song Hwee, who sees a 15- to 20-year runway ahead. Despite April's tariff headlines and political noise, management doesn't expect a global recession, with markets showing more resilience to macro shocks. The strategy now? Exit aging bets, reinvest in secular tailwinds like artificial intelligence and clean energy, and keep reshaping the portfolio with discipline. In Temasek's world, agility isn't optional it's the core playbook. This article first appeared on GuruFocus. Sign in to access your portfolio
Bloomberg
08-07-2025
- Business
- Bloomberg
Danantara Appoints Four Banks to Lead Up to $10 Billion Loan
Indonesian sovereign wealth fund Danantara appointed four banks to coordinate a multicurrency borrowing of as much as $10 billion, in what could be Southeast Asia's largest loan, according to people familiar with the matter. DBS Group Holdings Ltd., HSBC Holdings Plc, Natixis SA and Standard Chartered Plc will be acting as coordinators for the facility, the people said, who asked not to be identified discussing private matters.
Zawya
04-07-2025
- Business
- Zawya
Indonesia's Panin Bank stake sale stalls over pricing mismatch, sources say
SINGAPORE/HONG KONG - The sale of a controlling stake in Jakarta-listed Bank Pan Indonesia or Panin Bank by ANZ and Indonesia's Gunawan family has stalled due to a mismatch on pricing, three sources with knowledge of the matter said. The combined stake represents roughly 86% of Panin Bank, which was worth about $1.45 billion based on Friday's share price of 1,140 rupiah per share on the Jakarta Stock Exchange. The Gunawan family, which holds around 46.5%, according to LSEG data, is open to paring down its stake. Australian bank ANZ owns about a 39.2% stake. Earlier this year, the sale had drawn interest from regional lenders, like CIMB Group and DBS Group. But both banks did not submit binding bids as they were unable to meet the sellers' valuation expectations, said the sources. The sellers were seeking a price tag of more than twice the Panin Bank's current price-to-book ratio, one of the sources said. Panin Bank's was traded at 0.75 times book in first quarter ended March 2025, according to LSEG data. The sale process, run by Citigroup, could resume if the price gap could be reduced, said the sources, who declined to be named as the matter was private. CIMB is still interested and open to talks, one of the sources added. ANZ, Citi, DBS declined to comment. Panin Bank President Director Herwidayatmo said the bank's management is not involved in that process and referred Reuters' query to the controlling shareholders. The Gunawan family could not be reached for comment. CIMB did not respond to an email request seeking comment. ANZ and the Gunawan family initiated a sale process together last year, putting the combined controlling stake on the block. The sale comes as part of ANZ's strategy to shrink low returning business lines and reduce exposure to retail and wealth banking in Asia to boost return on equity. Panin Bank was founded by Mu'min Ali Gunawan in 1971 and listed on the Jakarta stock exchange in 1982. Its businesses span consumer financing to private wealth, according to its website. ($1 = 4.2240 ringgit) ($1 = 16,190.0000 rupiah) (Reporting by Yantoultra Ngui in Singapore and Kane Wu in Hong Kong. Additional reporting by Stefanno Sulaiman in Jakarta. Editing by Jane Merriman)
