LYCOS RETRIEVER 
Khoo Teck Puat: Standard Chartered
built 655 days ago
In 1986, an opportunity arises when as a white knight, Khoo made a dramatic acquisition of a 5% stake in Standard Chartered Bank. He subsequently grew his stake to 11% to become the single largest shareholder. In 1990, Khoo made a contribution of S$10 million to the Singapore Government's 25th anniversary charity fund - to help children, the elderly and the disabled. He was listed as Singapore based richest businessman by Forbes magazine in 2003.
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The Khoo stake has long been regarded as a stumbling block to any potential bidder such as Citigroup, the world's biggest financial group. However, Standard Chartered looked to nip any bid speculation in the bud and insisted the Singaporeans, who recently tried to buy the ports operator P&O, were long-term investors but not after overall control.
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Speculation has swirled around Temasek's intentions towards its investment in Standard Chartered since it acquired the Khoo family stake, with Barclays tipped as a prospective partner in an all-British banking merger. Although Barclays has its hands full in the fight for ABN, such a move might be credible if it loses out to the rival consortium led by Royal Bank of Scotland.
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