You are here: Home » Companies » News
Adani group hits back at Hindenburg, insists made full disclosure
icon-arrow-left
Fraud can not be obfuscated by nationalism: Hindenburg on Adani's rebuttal
Business Standard

Singapore's Temasek remains invested in Adani Ports: Media report

Temasek, through its subsidiary Camas Investments, owns just over 1.2 per cent in Adani Port

Topics
Adani Group | Adani Ports | Adani Port and SEZ

Press Trust of India  |  Singapore 



Adani Ports, APSEZ

Singapore investor, Temasek Holdings (Private) Limited, remains invested in and Special Economic Zone even though the Indian conglomerate is facing criticism from a US-based forensics research institution, according to a media report.

Temasek remains invested in Adani Ports, as per their latest public shareholding disclosures, The Straits Times reported on Monday, 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 just over 1.2 per cent in Adani Port, the Singapore broadsheet reported, citing the company's shareholder information.

The stake was acquired in 2018 for around SGD 147 million.

The Temasek spokesman also said the group does not comment on market speculation.

The also runs an edible oil and food business in India called Adani Wilmar via a joint venture with Singapore-listed Wilmar International.

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, according to earlier media reports.

Media has also reported the Adani Group's talks with Singapore investors, including Temasek and the Government Investment Corp (GIC), to raise USD 10 billion to fund its USD 100 billion expansion over the next decade, USD 70 billion of which would be for clean energy, ports and cement businesses.

Group Chairman Gautam Adani had addressed the Forbes Asia's conference in Singapore on September 27, 2022, listing out his ambitious investment plans.

In his speech to the conference, he highlighted the growing global confidence in India, saying, I expect the flow of FDI into India to further accelerate and rise above USD 500 billion over the next 15 years, making India by far the world's fastest-growing destination for FDI.

On Sunday, the rebutted allegations by the New York-based forensics research firm, Hindenburg Research about stock manipulation and accounting fraud.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Mon, January 30 2023. 08:52 IST

RECOMMENDED FOR YOU

.