Temasek continues its investment in Adani Ports despite criticism from Hindenburg: Reports
- ByStartupStory | January 30, 2023
According to PTI, Singapore investor Temasek Holdings (Private) Limited has maintained its investment in Adani Ports and Special Economic Zone despite criticism from a US-based forensics research institution Hindenburg.
The Straits Times reported on Monday that Temasek “remains invested in Adani Ports, as per their latest public shareholding disclosures,” citing a spokesman for the 49-year-old state-owned investor, which has USD 496.59 billion in assets under management as of December 2022.
Temasek, through its subsidiary Camas Investments, owns slightly more than 1.2 percent of Adani Port, according to shareholder information obtained from the company.
The stake was acquired in 2018 for around SGD 147 million.
Through a joint venture with Singapore-listed Wilmar International, the Adani Group also operates an edible oil and food business in India called Adani Wilmar.
According to previous media reports, the Group has had a presence in Singapore for over 20 years, and Adani Singapore is the headquarters for operations in the Southeast Asia region.
The Adani Group is also in talks with Singapore investors, including Temasek and the Government Investment Corp (GIC), to raise $ 10 billion to fund its $ 100 billion expansion over the next decade, with $ 70 billion going to clean energy, ports, and cement.
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