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Sustainable Business

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Breakingviews - Temasek MAC attack draws Singapore’s bailout line

Singapore’s Temasek is asserting itself as a provider of patient rather than reckless capital. The sovereign investment vehicle has escaped a $3 billion deal to increase its stake in rig-builder-to-property conglomerate Keppel, citing a “material adverse change” clause. It draws a valuable line on how far the Asian city state is willing to bend as it bails out strategic sectors amid the pandemic.

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