Al fresco dining in Chinatown that does not cost a bomb.
Merrill Lynch compensates Temasek US$2.5b
While we were all speculating on how much Temasek has lost in its bank forays, it is now reported that Merrill Lynch is compensating Temasek a sum of US$2.5b. This is about the amount Temasek has lost on paper at this point in time. So due diligence and contigency measures were built into the purchase.
And if similar terms were included in the other purchases, then things are not that dire. And this must be expected from the professional managers at Temasek.