Saturday, July 02, 2016

Asia Capital Re put up for sale

Asia Capital Re was set up in 2006 with a large capital from Temasek Holdings and other shareholders. At that time, it was considered to be a bold venture and a key player in the reinsurance world.

I understand that it had a very difficult time and could have incurred large losses. The financial statement for the year ended 31 March 2015 showed an accumulated loss of US $75 million against a share capital of US$765 million. It lost 10% of its capital in 10 years. Did the shareholders receive any dividend during the past years?

It has been put up for sale for a price tag of $1 billion.

This seemed to be another bad investment for Temasek Holdings. 

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