(Singapore) – Following a tight first half year, Singapore investment banks are hoping a range of Government divestments will generate a jump in business, tempered by concerns over competition on fees.The Government’s investment agency, Temasek Holdings, is planning to sell several of its holdings in “non-strategic” sectors of the economy, including potentially Singapore Airlines, DBS Group, Singapore Telecommunications and conglomerate Keppel Corp possibly coming to market.
Many investment banks have reduced headcount in Singapore recently citing the low deal flow including Lehman Brothers, Goldman Sachs and Credit Suisse First Boston and have refocussed on North Asian markets especially Hong Kong and China.