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Softbank Investment (SBI) and MacRitchie Investments Pte Ltd (MacRitchie), a wholly-owned subsidiary of Temasek Holdings, an investment company in Singapore, have in-principle agreed to set up a US$100m fund, named New Horizon Fund, to invest in promising China companies. SBI and MacRitchie will have equal commitment in the Fund.

The Fund will invest in companies with leading market positions and strong management teams. The establishment of the Fund underscores SBI and MacRitchie’s optimistic view of the potential of the Chinese economy.

About Temasek Holdings

Temasek Holdings is an Asia investment company headquartered in Singapore. It is committed to maximising long-term shareholder value as an investor and shareholder of successful enterprises.

Established in 1974, it manages a diversified global portfolio of S$90 billion, (JPYen 580 billion) spanning Singapore, Asia and the OECD economies. Its investments are in a range of industries: telecommunications and media, financial services, property, transportation and logistics, energy and resources, infrastructure, engineering and technology, as well as pharmaceuticals and biosciences.