21 Feb '11, 2pm

New financial institution to have billion dollar coffer

SINGAPORE: Analysts said that the new financial institution that will help Singapore companies undertake long-gestation projects overseas would need strong financial firepower. Some economists estimate the new institution, which was announced by Finance Minister Tharman Shanmugaratnam in his budget speech last Friday, to have a billion dollar coffer. Irvin Seah, Economist and Vice President of DBS Group Research, said: "I think for a start, probably a fund size of S$1 billion should be enough, but then again we should adjust this according to demand and the needs for the companies." Water desalination projects, roads and dams - experts said these types of infrastructure projects, in huge demand in Asian economies such as Indonesia, India and Cambodia, will likely attract funds from the new project finance institution. Mr Seah said: "I think this is in line with the governm...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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