Chapter 297: I was stunned!

Lee Hsien-long and He Jing sat at home, looking at each other speechlessly.

The action of Hanyu Mimeng Group is really a big blow to Singapore. It can be said that it has really hurt Singapore's foundation.

Not only this is true for Singapore countries, but it also had a huge negative impact on the Li family and Temasek under the control of the Li family.

Especially for He Jing, Zeng Lingfeng and her are old enemies. Without it, Zeng Lingfeng has ruined her good things more than once. Now that new and old hatreds are gathered together, He Jing almost goes wild.

Chinese companies and governments are already familiar with Temasek. These three words are originally transliterated in the Malay word "seaside city" and are also the old name in Singapore in the early years. They first appeared on the map brought back by Zheng He's voyage.

In 1974, Temasek became the name of a sovereign wealth enterprise that Singapore's finances use to control and preserve and increase state-owned assets. As of now, the net value of the investment portfolio managed by Temasek exceeds US$150 billion. The company's total assets have grown from approximately US$70 million at the beginning of its establishment to more than US$40 billion, accounting for 8 of Singapore's national GDP. Its operating business covers all areas of the national economy.

Before the Asian financial crisis in 1997, Temasek was able to maintain an average return rate of 18%. After the Asian financial crisis, Singapore's economy suffered a heavy blow, Temasek was in a difficult situation, and the average return rate in 2002 fell to 3%.

In 2002, Ho Jing, who was then a Singapore technology company, was appointed as the new president of Temasek by the Singapore government when she was defeated.

Ho Jing is the reincarnation of Lee Hsien Loong, son of former Singapore Prime Minister Lee Kuan Yew, and Singapore Technology is an unlisted holding company in Temasek, responsible for engineering, technology, military and real estate businesses.

Ho Jing and Lee Hsien Loong often had disagreements. Although Lee Hsien Loong was the Minister of Finance at the time, he could not make any comprehensive decisions. He was just a part of a team. Lee Hsien Loong was reluctant to become the president of Temasek. Because this meant that an embarrassing situation would arise, and his wife needed to report to herself. For this reason, Temasek specially revised the board of directors, and Ho Jing reported to a nine-person board of directors.

However, in the second year after He Jing entered Temasek, that is, in 2003, the company was estimated to have made a profit of S$7.4 billion, thirty times the profit she made in the first year after entering Temasek. He brought 10% of the contribution to Singapore's GDP. He Jing's name has also appeared frequently on the Fortune Women's Power Ranking. Temasek has become a giant with strong financial strength and can make trouble internationally.

Ho Jing made a strategic decision that seems very important now: no longer put the main investment in Singapore, only one-third is in Singapore, one-third is in Asia, and the other third is outside Asia. This is a decision that is not easy to understand for Singapore, which has just recovered after being hit hard by the Asian financial crisis. After all, every country hopes to keep investment as much as possible.

In Zeng Lingfeng's memory, Temasek's investment in China was soon gaining historic opportunities and huge rewards. The most eye-catching thing about this was that they were preparing to savor the feast of China's banking industry.

Temasek first entered mainland China in the 1980s, with various investment projects. However, it was after 2002 that it was better to get up early than to catch up. Temasek, who actively entered China, seized a great opportunity for China's financial industry reform and participated in the capital feast.

According to the framework of the agreement reached between Temasek and the Chinese government, Temasek will assist Bank of China to improve its corporate governance. Including recommending a director candidate to Bank of China. In addition to focusing on improving corporate governance, Temasek will use its network in the Asian financial industry to assist Bank of China to develop talent resources and technological foundations.

The relationship between Temasek and China's financial industry is not just a simple investment, but they have also further tried to join hands with China's financial industry to invest in the international market and carry out deeper cooperative relationships.

Although Singapore has been ruled by the People's Action Party for a long time, the operations of Temasek and Singapore government investment companies are basically not affected by government behavior. Like private enterprises, the board of directors is the highest authority for corporate decision-making. It can be said that separation of government and enterprises and market-oriented operation of state-owned enterprises is the key to the success of the Temasek model.

As a state-owned enterprise, Temasek does not have a soft budget constraint on government finance. On the contrary, through corporate operations, the company can not only pay taxes to the financial system according to corporate standards, but also transfer investment income to government investors through the rules of owner rights and interests. Based on the relationship between stakeholders, state-owned enterprises under the Temasek model essentially play a role in controlling the financial sector.

A core idea of ​​the Temasek model is to invest in enterprises through the holding company platform through the government wholly owns the holding company, reflecting the government's rights as the biggest stakeholder of the enterprise.

Through the influence of holding companies on the board of directors of various companies, the government's indirect control of the economy in the market is achieved.

On the other hand, the government does not indirectly interfere with the company's corporate operations, nor does it indirectly interfere with the market. Through the price mechanism, enterprises can make profits in the market. At that time, they will obtain profits through the pipeline of the holding company, forming a virtuous cycle.

Temasek's unique model and its successful investment operations in China objectively cultivated senior financial talents for China and invisibly played the role of a training base.

However, the operating philosophy of these people has also been severely affected by Temasek, which actually endangers China's national interests.

It is precisely because Zeng Lingfeng got this understanding that as soon as he learned the news, he instructed the core enterprise of Hanyu Mimeng Group, the world-renowned bank Hanyu Mimeng Bank, to make a fuss and ruin the matter.

In any way, Temasek is not comparable to Hanyu Mimon Bank.

So, Temasek acquired 8.8 shares of China Construction Bank and acquired 10 shares of Minsheng Bank for US$400 million to acquire 10 shares of Minsheng Bank and acquired a combined shares of Bank of China. All of them failed.

These failed actions failed to make their plan worth more than 50 billion US dollars for billions of dollars, which was a heavy loss for Temasek.

Of course, this loss is only for Temasek. For Hanyu Mimon Group and the Chinese, it is just to protect state-owned assets from being sold at a low price.

Because of these actions, the Hanyu Mimon Group has already formed a mortal enemy with Temasek and He Jing.

Moreover, since 2007, Temasek's investment in European and American banking industries has begun to suffer heavy losses. According to Temasek's public information, the loss of more than S$40 billion in the last fiscal year ended March 2009 is approximately USD. Immediately, Temasek Chairman Danna Banan issued an important statement, saying that Temasek would introduce a new leader. Soon, Temasek announced that Gu Zhibo, former president of BHP Billiton, will replace He Jing as president of Temasek on October 1, 2009.

It can be said that He Jing's resignation has an indirect relationship with Zeng Lingfeng. If Zeng Lingfeng had not intervened this, Temasek would have successfully bought the excellent capital of several Chinese banks. Temasek would not have lost so much in this new round of subprime mortgage crisis, and she would not have been forced to be dismissed.

Although He Jing did not get out of the position of Temasek as president because of a new motion within Temasek, this incident still touched her a lot and became a thorn in her heart. Just thinking about it can be understood that He Jing, a strong woman, was almost kicked away by the company. How could she feel?

What He Jing hates the most is not the people on the Temasek board of directors, but Zeng Lingfeng who indirectly formed all this.

Now Hanyu Mimon Group is working with Thailand to dig the Kara Canal. This is simply to kill Singapore. Is it tolerable?

Lee Hsien-long looked at his wife who was gritting teeth on the other side and felt very upset.

"A Jing, I said at the beginning, don't mess with the Chinese and Hanyu Mimo Group, you don't believe it. Now, this will bring a catastrophe to the entire country," Lee Hsien-long said with some angrily.

It turned out that Singapore wanted to take advantage of the opportunity of Cold Yumeng Group and the Chinese government to build a fusion-powered aircraft carrier to isolate China around the world. He Jing came up with the idea of ​​"Ho Jing"

Indeed, if this matter is really achieved, not only will the Chinese government be isolated, but it will be able to achieve development potential. Even the Hanyu Mimon Group will be boycotted by the whole world. In this way, she not only has a strong enemy for the country, but also has avenged personal revenge, which is a bad idea to kill two birds with one stone.

However, He Jing overestimated Singapore's influence around the world and underestimated Zeng Lingfeng and Hanyu Mimon Group's courage to fight back.

Her attitude towards the Chinese government may be very correct.

In her opinion, the Chinese government only makes some painless remarks at most, and she will never dare to really attack Singapore.

The same is true in reality. After this incident, the Chinese government did not even make any official protests, but only acquiesced to the protests of domestic public opinion media, which made He Jing very happy for several days.

However, what came immediately made her stunned. The Hanyu Mimom Group reached an agreement with Thailand to dig the Kara Canal without any warning. This was simply trying to kill Singapore.

Chapter 297: I was stunned!

Chapter 297: I was stunned!
Chapter completed!