LYCOS RETRIEVER
Khoo Teck Puat: Tan Sri Khoo Teck Puat
built 655 days ago
Speculation ... surrounded East-Asian focused banking group Standard Chartered following the death of Tan Sri Khoo Teck Puat, its largest shareholder. Analysts said Mr Khoo was a major block on takeover activity involving the bank. The shares rose 2.3 per cent at the open.
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The Econometric Studies Unit was established in 1981 with a private endowment from Tan Sri Khoo Teck Puat, with the objective of undertaking applied research work in econometrics. The main activities of ESU at present include building and maintaining a large-scale macroeconometric model, forecasting, and policy research. Apart from the research activities, the ESU organizes regular conferences and conduct courses.
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Temasek bought an 11.5% holding in Standard last year from the family of the late Tan Sri Khoo Teck Puat. He acquired it in the 1980s after emerging as a white knight to defend it from Lloyds TSB. The stock-market value is £23.4bn.
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The Standard Chartered stake was acquired from the estate of Tan Sri Khoo Teck Puat, the late Malaysian-born billionaire, who died two years ago. Temasek will buy 152.4 million shares in the bank, which focuses on emerging markets, ending two years of speculation that the stake would be snapped up by Citigroup or JPMorgan Chase as a platform to launch a bid for Standard Chartered.
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The gift announced Wednesday is from the estate of Tan Sri Khoo Teck Puat, a Singapore banker and hotel owner who died in 2004. Before his death, Forbes magazine estimated his fortune at $2.6 billion.
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