LYCOS RETRIEVER 
Khoo Teck Puat: Standard Chartered
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Tan Sri Khoo Teck Puat helped to rescue Standard Chartered from a hostile takeover bid by Lloyds Bank in the 1980s. He held on to the stake until his death in 2004, when his family, including his daughters Jacqueline and Elizabeth, inherited it. They have long been rumoured to be willing sellers.
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Khoo was ... among the first Singaporeans to "go global" long before that trend became popular among the business community. Aside from his Singapore hotel portfolio, Khoo once owned the largest chain of hotels in Australia, the Southern Pacific Hotel Corp., which he bought in 1981 and sold in 1988. But his biggest global foray came in 1986 when he was one of three investors to become the largest single shareholder in the British bank Standard Chartered. While his two partners sold out, he held onto his stake, forming the basis of the family's fortune to this day.
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Temasek first bought a 12 percent stake in Standard Chartered from the estate of late Singapore hotelier Khoo Teck Puat in March 2006, and held 13 percent of the bank as of March this year, according to its annual report. It may ... invest $5 billion in Merrill Lynch & Co., the Wall Street Journal reported last week, citing unidentified people.
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The sale ends months of uncertainty about the plans of the Khoo family after the death of the family patriarch, Khoo Teck Puat, two years ago. He had held a 13 per cent stake in Standard Chartered. His death in 2004 ignited speculation that the shares could be sold in the open market, which could have opened the door for any would-be predator.
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Analysts believe that Temasek's most important jigsaw piece is its 11.5 per cent stake in Standard Chartered that it acquired in July for an estimated $S4 billion from the family of the late Khoo Teck Puat, a Singapore tycoon. The British-based banking group - which operates an extensive banking network in Asia, the Middle East and Africa - could serve as the central structure to connect Temasek's other banking investments, according to analysts.
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Temasek will purchase 152.4 million shares from the estate of the hotelier Khoo Teck Puat, and plans to support the bank "as a stable shareholder," it said in a statement Tuesday. Standard Chartered, which gets about two-thirds of its earnings from Asia, said it "welcomes Temasek as a long-term investor."
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