The Temasek merry go round has started.
Shortly after announcing that LTA will take back the operation of the trains from SMRT, Temasek announced that they will privatize SMRT.
Sometimes we always question whether Temasek is in such a great financial position.
Privatization of SMRT is not a move to enhance shareholders of Temasek because it is a good company. More so, it is a nationalization move to heal a problem by not always being scrutinized.
This means it is no accretive to the shareholders of Temasek.
This morning Temasek and Singtel (Dividend Yield 4.1%) announced that Singtel have entered a conditional share purchase agreement to purchase 21% of InTouch Holdings, which owns Thailand’s AIS and 7.39% of Bharti Airtel for, SG$2.4 billion dollars.
