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Singapore's Bling; The government's wealthy investment arm is moving billions offshore--and taking Singapore Inc. global.(Cover Story)
Byline: George Wehrfritz and Sonia Kolesnikov-Jessop (With Sudip Mazumdar in New Delhi)
You've heard of Singapore airlines. You've heard of Raffles hotels, and the telecoms giant SingTel. But have you heard of Temasek Holdings? It's the enigmatic and little-known state holding company that funded and built the global brands above. It's also largely responsible for Singapore's rise from swampland to superefficient First World city-state. Established in 1974 to oversee government-led modernization, Temasek has nurtured strategic industries like electronics and transport, built state-of-the-art power and telecommunications grids, and even bought the local zoo. Today ...
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