Singapore Media Watch

Wednesday, November 22, 2006

Temasek fallout: Singapore hopes relations will heal - The Nation

The Nation
22 November 2006

Executive expresses surprise Shin Corp deal damaged city-state's image

Amid rising tension between Singapore and Thailand over Temasek Holdings' buying into Shin Corp, an informed financial source from a large Singaporean institution still hopes that both sides can clear up "these misunderstandings" to restore public friendship.

However, the institutional investor believes that Thai politics is the risk for foreign investors in the short-to-medium term.

The executive with a major institutional investor told The Nation last week he was surprised the Temasek-Shin deal had damaged Singapore's image in Thailand.

His company has a long history of relationships with both the private and public sector in Thailand. However, it is a low-profile portfolio investor and is unlikely to take a controlling or even too concentrated a stake in any Thai equity.

"We were actively involved in cooperating with both the banks and the government in helping Thailand in our own small way to recover from the last Asian financial crisis," said the source, who asked not to be named. (Read more...)


  • The Economist(UK) ranks Singapore 84th among 167 countries in a new Democracy Index. The index was developed by The Economic Intelligence Unit (EIU). Singapore listed as hybrid regime (mixture of authoritarian and democratic elements) and ranks well below Finland(6), Malaysia(81), Hong Kong(75), Taiwan(32), Indonesia(65).

    The index looks at 60 indicators across the five categories of electoral process and pluralism, civil liberties, the functioning of government, political participation, and political culture .

    Overall, The Economist considers having free and fair competitive elections, and satisfying related aspects of political freedom as a basic requirement for its definition of Democracy.

    Click here for the full report by The Economist.

    By Anonymous Anonymous, at 2:18 PM  

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