Temasek unit in talks to invest at least $400m in struggling Pacific International

Temasek unit in talks to invest at least $400m in struggling Pacific International

Ships in Singapore waters. Photo: Hanson Lu/Unsplash

A unit of Temasek Holdings Pte. is in talks for a potential investment of at least $400 million in Singapore shipping tycoon Chang Yun Chung’s Pacific International Lines Pte., according to people familiar with the matter.

Heliconia Capital Management Pte., a wholly owned subsidiary of Singapore’s state investment firm, could take a combination of equity and debt in the struggling shipping line, the people said, asking not to be identified as the process is private. Heliconia is keen to take a stake in Pacific International in part to secure logistics for food supplies to Singapore amid the coronavirus pandemic, they said.

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