Singapore sovereign wealth fund should end up owning 51% on Friday. : Singapore sovereign wealth fund Temasek will emerge as majority shareholder in an enlarged CapitaLand Group following anticipated shareholder approval of its S$11bn (€7.2bn) merger with Ascendas-Singapore on Friday. Post-transaction, Temasek, which currently owns about 40.8% of CapitaLand’s shares, will increase its holding to 51%. CapitaLand and Ascendas-Singbridge announced in January that they had agreed to merge to form Asia’s largest diversified property group, with assets under management of S$123bn. Under the terms of the agreement, Temasek, which owns Ascendas-Singbridge, will effectively receive S$6bn.