Temasek Holdings Issues Warning about Scammers Impersonating the Company in China
Singapore’s Temasek Holdings has issued a warning about scammers posing as representatives of the company’s office in Shenzhen, China. The scammers are allegedly trying to sell financial investment products or instruments to unsuspecting individuals.
In a statement released on Wednesday, Temasek stated that the scam involves the impersonation of the company in Shenzhen, using the registered office name ‘Temasek Holdings Advisors (Shenzhen) Co., Ltd.’ / ‘淡马锡投资咨询 (深圳) 有限公司’. The company clarified that it does not directly sell any investment products or financial instruments in China and has not authorized any third party to do so on its behalf.
Temasek, with a net portfolio value of 382 billion Singapore dollars ($284.5 billion) as of March 31, is one of Singapore’s state-owned investment companies. It is an active investor and shareholder with three offices in mainland China in Beijing, Shanghai and Shenzhen, as well as 13 offices in nine countries outside of Singapore.
The company emphasized that the fraudulent claims made by the scammers are not associated with Temasek in any way. It also stated that it reserves the right to pursue legal action and remedies against any individual or company that impersonates Temasek and infringes on its intellectual property.
This warning comes as China continues to grapple with a prevalence of counterfeits, ranging from fake Apple and Ikea stores to counterfeit milk powder, medicine, and food, which have had adverse health effects and swindled victims out of significant amounts of money in recent years.
In related news, Chinese state news agency Xinhua reported that Myanmar has transferred 31,000 suspects to Chinese authorities in a crackdown on phone fraud originating from northern Myanmar targeting mainland Chinese.
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