SINGAPORE - A consortium linked to Singapore state investor Temasek Holdings on Friday proposed buying media and real estate company Singapore Press Holdings Ltd (SPH) for about $3.4 billion, seeking to out-bid conglomerate Keppel Corp. The new offer has set the stage for a potential bidding war among investors eyeing SPH's property assets, which include malls, student accommodation and facilities.
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Dilhan PIllay will be helming one of the world’s biggest investors
Temasek Holdings on Tuesday announced that Dilhan Pillay will succeed Ho Ching as chief executive of the Singaporean state-backed firm, while also taking over her seat as an executive director on the board.
Pillay, who is keeping his title as CEO of investment arm Temasek International, will assume his new posts on 1 October this year. Ho, the wife of Singapore Prime Minister Lee Hsien Loong, will retire from Temasek and step down from its board on the same date, the company said in a release.
Ho has served as an executive director of the firm, which controls CapitaLand, Mapletree and other real estate giants, since 2002 and as CEO since 2004. Temasek chairman Lim Boon Heng praised Ho for her role in ensuring a smooth transition.