Tuesday, Jul 29, 2014Tuesday, Jul 29, 2014
Business
 

MOF reveals sources of $5b funds injected into Temasek last year

Published on Jul 9, 2014 12:56 PM
 
The Ministry of Finance (MOF) has revealed the sources of the $5 billion in fresh funds that it injected into Temasek Holdings in its latest financial year. -- PHOTO: ST FILE

SINGAPORE - The Ministry of Finance (MOF) has revealed the sources of the $5 billion in fresh funds that it injected into Temasek Holdings in its latest financial year.

The additional capital came from proceeds from the Singapore Government Securities (SGS), as well as government budget surpluses and the proceeds from government land sales in Singapore, the Ministry told The Straits Times on Wednesday in response to queries.

The SGS are bonds that the Government issues to develop the domestic debt market, and are traded in public markets.

Temasek had disclosed on Tuesday that it received a $5 billion capital injection from the Finance Ministry during its latest financial year ended March 31. In the past 10 years, the Government has injected capital into Temasek only a few times.

 
If you are not a subscriber, you can get instant, unlimited access here
 

Videos