It is reported that both GIC and Temasek have invested in Xiaomi. Why is both our sovereign wealth funds investing in the same company ? Should not they target different companies instead ? It is not common sense not to put all our eggs in one basket ?
We have seen what happened to the likes of Nokia, Motorola, Sony Ericsson and BlackBerry - all once upon a time 'giant' in the mobile phone scene. They have become dwarfs now. Xiaomi may be the next future 'dwarf'.
GIC and Temasek past investment records have many ugly spots. They got burnt by different companies. So now they want to share the same black spot ?