Singapore's Temasek looking at Africa and Mongolia

Reuters has reported that Singapore sovereign wealth fund Temasek Holdings wants to increase its exposure to mining in Mongolia and is also looking for opportunities to invest in the mining sector in Africa.
"We made investments in Mongolia and we are fairly bullish about Mongolia," said Nagi Hamiyeh, managing director of investments at Temasek, on the sidelines of a mining conference in Singapore on Tuesday.
"We believe that Mongolia is starting its journey in the mining space so that would be one of the many countries that we would look at."
It also holds a stake worth $150 million in Lung Ming, which owns and operates the Eruu Gol iron ore mine in Mongolia, according to its latest annual report.
"Generally we prefer to invest in corporates, but our investment could be very well to finance underlying assets," Hamiyeh told reporters.
Temasek CEO Ho Ching said last year that the state investor was interested in resources as an asset class. Energy and resources made up just 5 percent of Temasek's portfolio, as of March 2009. It managed $122 billion in total as of end-July.
Hamiyeh said Africa, on a "risk-adjusted basis", also offered some investment opportunities.

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