Temasek makes its largest investment in Japan

Deutsche Presse Agentur
Published: Tuesday August 22, 2006

Singapore- Temasek Holdings has made its largest investment in Japan with a 272-million-Singapore-dollar (172-million-US-dollar) purchase of a 4.6 per cent stake in Mitsui Life Insurance, news report said on Friday. When completed next month, the investment will trump the previous largest buy in Japan by Singapore's investment arm, a 7 per cent stake in broadband service provider eMobile announced two months ago, The Straits Times said.

Temasek has only started looking at Japan, it said in a published statement.

"We are optimistic about Japan's economic expansion in the coming years and this investment allows us to participate in the country's growth and its financial services sector," Temasek added.

As of March 31 last year, Temasek had 103 billion Singapore dollars (660 million US dollars) worth of investments in its portfolio. Only 1 per cent was in Japan.

© 2006 DPA - Deutsche Presse-Agenteur