20160213 ST article on Temasek Holdings misleading

I refer to ST article “Temasek increases stake in US-based pharma firm” by Jeremy Koh. (27 Jan)

ST: “Temasek Holdings lifted its shareholding in Nasdaq-listed Portola Pharmaceuticals last year “.. “increased its holding by 750,000 shares over the course of last year to 6.584 million, ..”

During the first 3 quarters, there was no change in Temasek’s holding of 5,833,568 shares. ST should have stated this factually: Temasek increased its holding in Q4 2015 instead of over the course of last year.

What’s really strange – Temasek subsequently divested its entire holding in Portola in the same quarter it had invested an additional S$50 million.

According to NASDAQ, Temasek had sold all its listed US investments except Level 3 Communications Inc. link

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One Response to 20160213 ST article on Temasek Holdings misleading

  1. Xmen says:

    Wow… Temasek appears to be in a severe cash flow crunch to substantially liquidate its U.S. assets. A long term investor does not liquidate its holdings in a hurry. I am afraid it is raising funds to pay for other money losing obligations (e.g. Stanchart, Olam, Chinese investments.)

    Now, a Temasek blow-up may not be entirely unthinkable, especially if it is involved in derivative trades (think Olam and alike). Temasek is run like a financial/hedge fund and financials/hedge funds are taking a beating right now. Some will definitely blow up over the next few months.

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