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SINGAPORE: Singapore investment fund Temasek Holdings has set up a new investment company called Seatown Holdings.
The company said in a statement that its senior managing director and chief strategist, Charles Ong, will be the chief executive of the new company.
Mr Ong said Seatown is a global investment company, wholly-owned by Temasek Holdings.
It is not immediately clear how Seatown's mandate will be different from Temasek's own investment role.
A spokesman said he had no further details beyond the statement.
Temasek said it has seconded a small core team and is still in the process of building up the Seatown team.
Earlier, Dow Jones reported that the new company will have an investment capital of around US$3 billion and would focus on investments in emerging markets with an emphasis on Asia.
- CNA/yb
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