Temasek’s cautious in India while PM’s bullish

In India, Temasek on 16/07/2012 at 9:46 am

So “Prime Minister Lee Hsien Loong said Singapore is prepared to share its experience in building industrial parks with India … Mr Lee believes there is potential for building such parks in India, following Singapore’s experience with such parks in countries like Indonesia and Vietnam … Singapore has been talking to several states in India about such projects … acknowledged that it would take some time, as land has to be acquired and approval has to be obtained. Support from the state government is also needed … if these hurdles can be cleared, Singapore will be able to build the parks faster and contribute to India in a strategic direction [such parks can help to boost the manufacturing sector in India which he says India needs. India also needs a substantial amount of manufacturing investments he claims] … the Indian economy is at a stage where it needs a considerable amount of investments, especially in infrastructure. Singapore companies have capabilities to handle some of these projects.”

But despite his bullishness (see here for the CNA report), Rohit Sipahimalani, co-chief investment officer of Temasek, told The Economic Times: “There’s a lot of uncertainty, but times like these also create opportunities. We will take advantage of the uncertainty, but will remain cautious.”

Can’t blame Temasek, given things like this in India

  1. To me,the main achievement of PM Lee was to clear Singapore as shady “black money” centre.
    Prime Minister Lee Hsien Loong has responded to allegations made by a White Paper published in India about Singapore being used as a conduit for round-tripping of Indian ‘black money’ into India.
    The White Paper on ‘Black Money’ was tabled in the Indian Parliament on May 21 this year. For some strange reasons, the authors of the paper were not sued for defamation by PM Lee or the Singapore government.
    Speaking to the Singapore and Indian media in New Delhi on Thursday,PM Lee explained that Singapore is a financial centre with good standing so there was no reason for Singapore to do such shady business.

  2. Any plans to comment about 158 B$ restatement to surplus reserves? Saw your comment on another website that you’re only watching and waiting……..thanks

    • Na at present. I don’t see why I shld do what Lucky Tan and KJ have done, help Chris Balding with his “research”. To me, if want to do research, do it properly. Not slip shod. There is an official explanation of the restating of reserves, I believe. Whether he believes it or not is another matter. But he shouldn’t behave as though it doesn’t exist.

      • Chris Balding calls it “the $158 billion Singapore Budget Accounting Fraud”
        He based his statement all based on Temasek/government given public figures.
        I would expect TH to come up with a proper clarification since it manages our money,we are the stake holders.
        Chris Balding must wiithdraw his statement once Temasek/Government come up with a different set of figures.

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