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Temasek may invest more in Western banks

Reuters – Singapore sovereign wealth fund Temasek Holdings, which has pumped billions of dollars into ailing lenders such as Merrill Lynch, said it may invest more in Western banks if the opportunity arose.

The fund also said its assets rose 13 percent in the year to March, despite a sharp drop in equity markets that started in the fourth quarter of last year.

Chairman S Dhanabalan told Singapore entrepreneurs on Thursday that the fund had taken a 5-7 year view on its near-$6 billion (3.2 billion pounds) investment in Merrill Lynch and described the U.S. broker as an institution with a good management and business.

"If there is an opportunity to invest, we will look at it," Dhanabalan said in response to a Reuters question on whether the firm was prepared to put more money into Western lenders.


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