Wealth

Look at things in the center. Fan Xin naturally understood that many things are not easy to sew.

But this time the Singaporean government exposed the fox tail and blatantly occupied the frontier of the military. Naturally, it gave itself a good opportunity to take action. After all, Fan Heng was influenced by his son Fan Wuyi, and has always been very important to the birth of China’s financial industry. Singaporeans who have a lot of money and money do not have a good impression.

If you want to deal with the Singapore government, the first one in China that can't get around is Temasek.

In the past two decades, Temasek has mainly relied on the investment and business cooperation of affiliated companies to participate in the China Economic Exhibition. In the 1980s, investments were mainly concentrated in real estate, hotel and service-related industries. The current investment areas cover financial, financial, and service industries. Various industries from manufacturing to ports, transportation and logistics have increased their direct investment.

However, after the Asian market began to be cautious about Temasek, whether it can proceed along the above-mentioned existing strategy requires more delicate operations, especially in terms of personnel layout prior to business layout.

Now the senior management arranges for Fan Heng to sit in Hong Kong. The main thing is to see how Singapore reacted. Will there be some private explanations because of Goh Chok Tong's rants?

Chinese companies and governments are already familiar with Temasek. These three characters are originally a transliteration of the Malay word "city by the sea" and are also Singapore's old names in the early years. They first appeared on the map brought back by Zheng He's navigation.

In 1974, Temasek became the name of a sovereign wealth enterprise that is used by Singapore’s finances to control and maintain and increase the value of state-owned assets. Up to now, Temasek’s portfolio has a net worth of over US$60 billion.

Before the Asian financial turmoil, Temasek was able to maintain an average return rate of 18%. After the Asian financial turmoil, Singapore’s economy suffered a severe setback and Temasek was in a difficult situation. Last year’s average return rate fell to 3%.

Last year, Ho Ching, who was the student of a Singapore technology company, was appointed as the new president of Temasek by the Singapore government when he was defeated.

Ho Ching is the wife of Lee Hsien Loong, son of former Singapore Prime Minister Lee Kuan Yew. Singapore Technology is an unlisted holding company in Temasek, responsible for engineering, technology, military and real estate businesses.

He Jing and Lee Hsien Loong often disagree. Although Lee Hsien Loong was Minister of Finance at the time. But he cannot make any one-sided decisions, he is just a member of a team. He Jing became the president of Temasek, but Lee Hsien Loong's boss was reluctant. Because it means that there will be an awkward situation. The wife needs to report to herself. To this end, Temasek specifically revised the board of directors, and He Jing reported to a nine-member board of directors.

However, Ho Ching entered Temasek's second year. That is, this year, the company is expected to record a profit of S$7.4 billion, which is thirty times the profit she made in the first year after joining Temasek. Bring a 10% contribution to Singapore Ao.

Ho Ching made a strategic decision that is now very important to Temasek: no longer put the main investment in Singapore, leaving only one-third in Singapore, one-third in Asia, and another third in Singapore. Outside Asia. This is a decision that is not easy to understand for Singapore, which has been hit hard by the Asian financial crisis and has recovered from the Internet. After all, every country wants to keep investment as much as possible.

Unexpectedly, Temasek's investment in China quickly received historic opportunities and huge returns. The most noticeable feature of this is the feast of the Chinese banking industry.

Temasek first entered mainland China in the 1980s, with a wide variety of investment projects. However, the real large-scale entry into China was after last year, and Temasek, who had been actively entering China in a hurry, caught the opportunity to reform the Chinese financial industry and participated in the capital feast.

Under the framework of some agreements, Temasek will assist the Bank of China to improve its corporate governance. Including the recommendation of a director candidate to Bank of China, in addition to focusing on improving corporate governance, Temasek will use its rugged financial network in Asia to assist Zhongxian Bank to develop its human resources and technological foundation.

Temasek's relationship with China's financial industry is more than a simple investment. They have also further tried to join hands with China's financial industry to invest in international markets and develop a deeper cooperative relationship.

Although Singapore has long been governed by the People's Action Party. However, the operations of Temasek and the Singapore Government Investment Corporation are basically not affected by government actions. Like private companies, the board of directors is the highest authority for corporate decision-making. It can be said that the separation of government and enterprises and the market-oriented operation of state-owned enterprises are the key to the success of the Temasek model.

As a state-owned enterprise, Temasek does not rely on soft budget constraints on government finances. on the contrary. Through corporatization, the company can not only pay taxes to the financial system in accordance with corporate standards. It can also use the rules of owner's equity to transfer investment income to government investors. Based on the relationship between stakeholders, state-owned enterprises under the Temasek model essentially play a role in government control of the financial sector.

One of the core ideas of the Temasek model is to use the government's wholly-owned holding company. Through the platform of holding companies, investing in enterprises with financial resources reflects the right of the government as the largest stakeholder of the enterprise.

Through the influence of the holding company on the board of directors of various companies, Xiaoqijiang's indirect control over the economies in the market On the other hand, the government does not directly intervene in the company's corporate operations, nor does it directly intervene in the market. Through the price mechanism, enterprises can gain profits in the market. At that time, the income will be distributed through the channels of the holding company, forming a virtuous circle.

Temasek's unique model and successful investment operations in China have objectively cultivated high-level financial talents for China, which has played a role as a training base invisibly.

But the business philosophy of these people. It was also severely affected by Temasek, which actually endangered China's national interests.

At this time, Fan Hyung had only been in Hong Kong for a day, and there was news that even though Singapore’s Prime Minister Goh Chok Tong had spoken aggressively, Temasek had already begun to operate privately. Attempt to use donations to alleviate the possible counterattack from China.

"The news received by the magazine. Temasek and its six Singapore companies intend to donate 20 ventilators for hospital use and two thermal imaging scanners for use by the Civil Aviation Administration." Fan Heng said to his son Fan Wuyi. "And He Jing also wrote to Vice Premier Wu, saying that they were very encouraged by the struggle between the drugs and the Communist Party, and hoped to express their confidence and support for this important task of China."

"Cut, it's worth a few dollars." Fan Wubing said contemptuously. "Let Goh Chok Tong say what he said in reverse. I will give him two hundred ventilators in return, which is enough for his grandchildren to use them!"

Fan Heng went on to say, “In addition, they also promised that after the ** crisis is basically resolved. Temasek takes the lead in launching China and Singapore in Shanghai, the largest in the history of showing their confidence in China, and plans to invite the United States, the United Kingdom, and the United Kingdom. Global investment representatives from Europe, Australia and the Middle East gather together."

"It's nothing unusual. It's just popular. I can do it without any effort. I can do it even now. I don't see the attitude of sincerity or regret from it. However, what does the high-level mean? "Fan Wubing asked.

"The opinions of the senior management are somewhat divided. Obviously, the interference from Xi Yijie is more serious." Fan Heng replied, "Probably the former secretary of Goh Chok Tong will come to Hong Kong to explain this matter. If the central authorities think it is not appropriate to offend Singapore. , This matter is estimated to be uncovered.” Fan Ting frowned and replied, “Furthermore, it is said that Temasek is planning to use 1.5 billion U.S. dollars in exchange for 5% of the shares of Bank of China. In this matter, it is still Not sure yet."

"So cheap?! Selling state-owned assets at a low price!" When Fan Wubing heard this, he immediately jumped up and shouted, "Sell it to me, can I pay 2 billion dollars?!"

In fact, Temasek has a huge appetite. Relying on his personal connections in the mainland, with the excuse of being skilled in financial industry management, he ransacked the equity of several major state-owned banks at a very high price. When I met this opportunity, I naturally wanted to kick Temasek away and went into battle by myself.

When it comes to capital, management team, and management experience, how can Temasek compare to Fan's Investment Group? Fan's investment group's annual profit is several times more than Temasek's total assets, and there is no comparison between the two.

Now Singapore has taken the initiative to turn its face with China. Since then, China no longer has to think about Singapore when considering these economic construction projects. It is completely and simply for the sake of its own interests. No one should ever want to make irresponsible remarks about this. China is actually a great relief, isn't it a good thing?

Furthermore, China and Southeast Asian countries only need to deal directly with each other, and they did not necessarily pass through ASEAN. The existence of ASEAN has actually become a stage for Singapore to dance and raise its value. In addition to being good for Singapore, it is good for Singapore. China and other countries do not have much benefit ~www.wuxiaspot.com~ China has since left ASEAN aside in silence and directly dealt with relevant countries. In fact, it demolished Singapore's Taiwan and reduced the chance of this quack cheating. It doesn't hurt anyone. If the Kara Isthmus Canal project or the Myanmar land transportation project can be completed, the feasibility of the United States using Singapore as a base to block China will be greatly jeopardized, and the importance of the United States using the Singapore base will be reduced accordingly.

As a result, if Singapore wants to sell the base, it will not be able to sell it at a good price.

Even if it is sold out, the main purpose of the county is not so much to deal with China, as it is to deal with surrounding Muslim countries. Naturally, those countries will not understand this. That way. The country that wants to clean up Singapore has its own people, and there is no need for China to say or do anything.

Fan Wubing thought for a while, and felt that this time, the media should be the first to take charge of the economy and kicking Temasek out of China would be beneficial to him without any harm.

What's more, the shares of several major state-owned banks, instead of giving away to outsiders in vain, it is better to make yourself cheaper. At least it can sell for a good price, and the loss of state-owned assets will be less.

Eleven...Today's page: more sent to "Yiyizhou" (to be continued)