HutchWatch: Panama pain and PSA plans – where we stand
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By Mike Wackett
Singapore-headquartered ocean carrier PIL received loans via the country’s sovereign wealth fund, Temasek Holdings, last year, according to Alphaliner.
The consultant said the carrier had pledged its shares in the Hong Kong-listed container manufacturer Singamas as collateral; the information revealed in stock exchange disclosures which names Temasek as an “indirect” 20.56% shareholder in the box builder.
The stake is held through hedge funds controlled by Temasek and ,although it is unlike the loan it replaces and does not require PIL to disposes ...
Comment on this article
Martyn Benson
May 15, 2019 at 2:48 pmIt seems that the rumours of PIL’s imminent absorption into COSCO were somewhat premature. Good to see that Alphaliner were quick to repair their earlier speculations but it just goes to show how easy it is to add one and one and come up with the wrong result based on hearsay.
Frederik deCockBuning
May 15, 2019 at 7:40 pmPIL’s life time is over . artificial funding will not solve , its a pitty but world trade turns around.!