A unit of the Singapore government’s investment company Temasek Holdings has agreed to make an initial investment in beleaguered liner operator Pacific International Lines as part of what is essentially a state bailout.
The family-run PIL, headed by MD Teo Siong Seng, confirmed on 27 May that it was in talks with Temasek unit Heliconia Capital, as the company’s liquidity became threatened by poor performance that has been compounded by the Covid-19 pandemic.
In a statement sent to Container News,
https://container-news.com/temasek-unit-to-make-interim-investment-in-pil/