Telekom stake sold to Temasek

Singapore’s state-owned investment company Temasek Holdings has purchased a 5% stake in Telekom Malaysia from the Malaysian government’s investment arm Khazanah Nasional, paying around MYD1.6 billion (USD421 million). The move is thought to be a sign of increasing ties between Malaysia and Singapore, which have historically squabbled over issues such as territorial claims and the use of military airspace.