Temasek not the usual sovereign wealth fund

WHENEVER Temasek Holdings opens a new office outside of Singapore, it is "not indicative of some radical shift" in the investment company's approach, said its chairman Lim Boon Heng.

"Coming from a little island nation with no natural resources except for some granite rocks, we are not a sovereign wealth fund in the normal sense of the term," he said at a reception to mark the opening of Temasek's new European office in London last Friday.

"Instead, we invest capital accumulated from generations of hard work and commitment by everyone in Temasek and the Temasek portfolio companies," said Mr Lim in a speech at the Millennium Mayfair Hotel.