Temasek Holdings forms Americas' advisory panel with eye on investments

[SINGAPORE] Singapore's state investment group has formed an advisory group comprising executives from multinational companies including PepsiCo and Honeywell International as it seeks to expand in the Americas.

The Temasek Americas Advisory Panel (TAAP) is being chaired by former US Treasury Secretary Tim Geithner and members include Pepsi Co's CEO Indra Nooyi and Honeywell's CEO David Cote, it said in a statement late on Thursday.

The panel held its inaugural meeting on June 14-15 in New York. Temasek formed a similar advisory group for Europe in January. "Our TAAP members will provide us with the benefit of their experience and insights as we seek opportunities against the backdrop of an increasingly challenging global macro environment," said Dilhan Pillay Sandrasegara, Temasek's President and Head of Americas.

Sandrasegara recently took over as head of Americas from former Credit Suisse banker Boon Sim who left the position in May.

Temasek, a major global investor with stakes in Standard Chartered, Chinese banks and Singapore's top companies, managed about S$266 billion as of March 31, 2015.

The bulk of its portfolio is still in Asia, but in recent years it has been increasing investments in North America, Europe and Latin America.

REUTERS