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Temasek opens New York office, signals confidence in US economy

Published on Jun 27, 2014 10:13 AM

NEW YORK - Singapore investment company Temasek Holdings opened its first United States office in New York on Thursday, a signal of its confidence in the long-term prospects of the US economy.

This confidence stems from the US' resilience and dynamism, together wtih the indomitable American spirit of possibility, Prime Minister Lee Hsien Loong said at the launch of the office.

He noted that the world's largest economy is picking up again after the global financial crisis five years ago, with more jobs being created, falling unemployment rates, rebounding business confidence and the resurgence of the US manufacturing industry.

"Above all, Americans never say die, and are always chasing the next opportunity," he told a crowd of about 300 business leaders and Temasek executives at the Waldorf-Astoria hotel, near Temasek's new quarters. Mr Lee was in the US on a week-long working visit.

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