“Asia is at an inflexion point, poised to open its markets and create opportunities for more than half of mankind,” said Gan Chee Yen, senior managing director for investments at Temasek. “Standard Chartered, with its outstanding leadership, is well-positioned to capture this growth. Investing in the company is consistent with our strategy of investing in Asia’s financial services sector, and it is an important part of our ongoing efforts of achieving a balanced portfolio.”
Standard Chartered offers retail and institutional customers a range of banking services, including structured products and derivatives. Last year, the bank made $2.7 billion in profits, up 19% on its 2004 results.