NIB's Spore joint venture

NIB's Spore joint venture

THE HAGUE (Reuter): Dutch Nationale Investeringsbank NV (NIB) said on Friday it would set up a joint venture in Singapore with state-owned Temasek Holdings (Pte) Ltd.

The jointly owned company will provide venture capital to Dutch companies which want to invest in China or the ASEAN member states.

It will take minority stakes in subsidiaries or projects to be set up in these countries by Dutch firms but will not be directly involved in the activities of the management.

NIB said the unit is expected to expand its investment portfolio to about US$100 million in the years ahead.

The venture will make investments ranging from $5 to $15 million or more per project and will be jointly managed by Temasek and NIB.

NIB, in which the Dutch state holds a 50.3 percent interest, is already active in Southeast Asia through its Singapore-based subsidiary De Nationale Investeringsbank Asia Ltd.