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Look at things at the center. Fan Xin naturally understands that many things are not easy to do.

But this time the Singapore government itself exposed the fox's tail and openly occupied the leading edge, which naturally gave him a good opportunity to make a move, after all, Fan Heng was affected by his son Fan Wuxi, and he has always had no good impression of the Singaporeans who have a lot of money in China's financial industry.

If you want to deal with the Singapore government, the first thing you can't get around in China is Temasek

。

Over the past 20 years, Temasek has relied heavily on investment and business partnerships with its affiliates to participate in China's economic exhibitions, with a focus on real estate, hospitality and services-related sectors in the 80s, and now investing in a wide range of sectors, from finance and manufacturing to ports, transport and logistics, and increasing its own direct investment.

However, after the Asian market has become cautious about Temasek, whether it can follow the established strategy mentioned above will require more delicate operations, especially in terms of personnel layout before business layout.

Now the top management has arranged for Fan Heng to sit in Hong Kong. The main thing is to see how the Singapore side reacts. Will Wu Zuodong make some private explanations because of his wild words?

Temasek is already familiar to Chinese companies and governments, and these three words are a transliteration of the Malay word for "seaside city", which was also Singapore's old name in the early years, and first appeared on the map that Zheng He brought back from his voyage.

In 1974, Temasek became the name of a sovereign wealth enterprise that Singapore's treasury uses to control, preserve and increase the value of state-owned assets, and to date, Temasek has a net portfolio under management of over US$60 billion.

Before the Asian financial crisis, Temasek was able to maintain an average return of 18 per cent, but after the Asian financial crisis, Singapore's economy suffered a severe setback, and Temasek was in a difficult situation, with an average return falling to 3 per cent last year.

Last year, Ho Ching, then a Singaporean technology company, was appointed by the Singapore government as the new chief executive of Temasek when he was defeated.

Ho Ching is the wife of Lee Hsien Loong, son of former Prime Minister Lee Kuan Yew, an unlisted holding company of Temasek that is responsible for engineering, technology, military and real estate.

Ho Ching and Lee Hsien Loong often disagree. Lee Hsien Loong was finance minister at the time. But he can't make any one-sided decisions, he's just part of a team. Ho Ching became Temasek's chief executive, and Lee Hsien Loong's boss was reluctant. Because it means that there will be an awkward situation. My wife needs to report to herself. To this end, Temasek has amended its charter to report to a nine-member board.

However, in Ho Ching's second year at Temasek. This year, the company is expected to generate a profit of S$7.4 billion, 30 times the profit she made in her first year at Temasek. 10% contribution to Singapore.

Ho Ching made what now appears to be an important strategic decision for Temasek: to move away from major investments in Singapore, leaving one-third in Singapore, one-third in Asia, and the other third outside of Asia. This is a decision that is not easy to understand for Singapore, which has been hit hard by the Asian financial crisis and has recovered its net to regain its yuanmao, after all, every country wants to retain investment as much as possible.

Surprisingly, Temasek's investment in China quickly reaped historic opportunities and huge returns, most notably in the face of China's banking industry.

Temasek's earliest entry into China's Big 6 was in the 80s of the last century, and there are a variety of investment projects. However, it was only after last year that Temasek seized the opportunity to reform China's financial sector and participated in the capital feast.

Under a number of agreements, Temasek will assist Bank of China to improve its corporate governance. In addition to focusing on corporate governance, Temasek will leverage its network in Asia to help Zhongxian Bank develop its talent resources and technology foundation.

Temasek's relationship with China's financial sector is not just a simple investment, but it is also a further attempt to join forces with China's financial sector to invest in the international market.

This is despite the fact that Singapore has long been governed by the People's Action Party. However, Temasek and GIC's operations are largely unaffected by government actions, and like the private sector, the board of directors is the highest decision-making authority for companies. It can be said that the separation of government and enterprise and the market-oriented operation of state-owned enterprises (SOEs) are the key to the success of Temasek's model.

As a state-owned enterprise, Temasek does not rely on soft budget constraints on government finances. Opposite. Through corporatization, the company is not only able to pay taxes to the financial system according to corporate standards. In addition, the rules of ownership equity can be used to transfer investment income to government investors. Based on stakeholder relationships, the state-owned enterprises (SOEs) under the Temasek model essentially act as government control over the financial sector.

One of the core ideas of the Temasek model is the wholly owned holding company by the government. Through the platform of the holding company, the government invests in the enterprise with financial resources, reflecting the rights of the government as the largest stakeholder of the enterprise.

On the other hand, the government does not directly intervene in the corporatized operation of enterprises, nor does it directly intervene in the market. Through the price mechanism, enterprises can make profits in the market. At that time, the income will be distributed through the channel of the holding company, forming a virtuous circle.

Temasek's unique model and successful investment operations in China have objectively nurtured high-level financial talents for China, and invisibly played a role as a training base.

But the business idea of these people. It has also been severely affected by Temasek, which has actually jeopardized China's national interests.

At this time, Pham Heng had only been in Hong Kong for a day, and news had already come that despite Singapore's Prime Minister Goh Chok Tong's aggressive rhetoric, Temasek had begun to operate privately. An attempt is made to alleviate the possible backlash from the Chinese side through donations.

"The news received by the journal network. Temasek, along with six of its Singaporean companies, intends to donate 20 ventilators for use in hospitals and two thermal imaging scanners for use by the Directorate General of Civil Aviation. Fan Heng said to his son Fan Wuxi, "And He Jing also wrote to Vice Premier Wu, saying that they were very encouraged to see the fight against the poisoners, and hoped to express their confidence and support for this important task of China." ”

"Cut, it's worth a few bucks." Fan Wuxian said disdainfully, "Let Wu Zuodong say what he said in reverse, I will give him back two hundred ventilators, which is enough for him to use his grandson!" ”

Fan Heng continued, "In addition to this, they also promised that after the crisis is basically resolved. Temasek's lead in the largest ever launch in China and Singapore in Shanghai shows their confidence in China, and plans to bring together global investment representatives from the US, UK, Europe, Australia and the Middle East. ”

"There's nothing unusual about this, it's just popularity, and I don't need to make any effort to do it, even now, I don't see sincerity or remorse in it, but what does the top mean?" Fan Wuxian asked.

"There are some differences of opinion at the top level, and it is obvious that the interference of the Xiyi Realm is more serious." Fan Heng replied, "Presumably, Goh's former secretary will come to Hong Kong to explain the matter." If the central government feels that it is inappropriate to offend Singapore, it is estimated that this matter will be revealed. Fan Ting replied with a frown, "And Temasek is said to be planning to pay $1.5 billion in exchange for a 5 percent stake in the Bank of China." In this matter, it has not yet been decided. ”

"So cheap?! Sell state-owned assets cheaply! As soon as Fan Wuxian heard this, he immediately jumped up and shouted loudly, "Sell it to me, can I pay two billion dollars?!" ”

In fact, Temasek's appetite is huge. Relying on his connections in the Big 6, under the pretext that he is proficient in the management of the financial industry, he wantonly and frantically plundered the equity of several large state-owned banks, but the price spent was very much Fan Wuxian had heard of this in his previous life, and when he encountered this opportunity in front of him, he naturally wanted to kick Temasek away and go into battle himself.

When it comes to capital, management team, and management experience, how can Temasek compare to Fan's Investment Group? Fan's annual earnings are several times higher than Temasek's total assets, and there is no comparison between the two.

Now that Singapore has taken the initiative to turn its other cheeks with China, China no longer has to think about Singapore when considering these economic construction projects, and it is completely just for the sake of its own interests, and no one can think of making irresponsible remarks about it.

Moreover, China and Southeast Asian countries only need to deal directly with each other, and they do not necessarily go through ASEAN, and the existence of ASEAN has actually become a stage for Singapore to dance and raise its value, and it will not do much good to China and other countries except for Singapore.

Since then, China has quietly put ASEAN aside and directly dealt with relevant countries, actually dismantling Singapore's Taiwan and reducing the chances of this charlatan to deceive, which has harmed no one. If the Kra Isthmus Canal project or the Burma Route 6 transportation project can be completed, the feasibility of the United States using Singapore as a base to blockade China will be greatly reduced, and the importance of the United States using Singapore base will be reduced accordingly.

As a result, Singapore can't sell its base at a good price.

Even if it were sold, the county's main purpose would be not so much to deal with China as it was to deal with the surrounding Muslim countries, which naturally would not fail to understand this. That's it. The country that wants to clean up Singapore has its own people, and there is no need for China to say or do anything.

After thinking about it for a while, Fan Wuxian felt that this time it was better for the media to take the lead, the economy to take charge, and kick Temasek out of China.

What's more, the shares of several large state-owned banks are better off than giving away to outsiders for nothing. At the very least, it can be sold at a good price, and the loss of state-owned assets will be a little less.

One one... Today's No.: It is also sent to "One Continent (to be continued) on the cat pounce without pop-ups."