Good evening,

More than a year has passed since Singapore Power mandated Goldman Sachs to sell its 40 per cent stake in gas and electricity distribution giant Jemena. And now, it looks like the whole thing has been “paused”.

At least, that’s the disclosure in documents circulated by the subsidiary of Singapore’s state investment firm Temasek as part of an $S10 billion ($11.4 billion) debt issuance. The stake is worth between $6 billion and $9 billion.

Street Talk reported in September that Global Infrastructure Partners was deep in negotiations with Singapore Power and its bankers. That would have put them on the register alongside State Grid Corporation of China, which picked up a 60 per cent stake of Jemena from Singapore Power in early 2014.

People with detailed knowledge of the discussions said the “pause” was more likely permanent. GIC, however, is said to remain interested.

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Street Talk understands the chair of the specialty women’s plus-size retailer City Chic is getting on the front foot ahead of the company’s AGM with shares down 70 per cent over the past year.

The Australian sharemarket fell from a record high on Tuesday following declines in energy prices and more tariff blustering from US President-elect Donald Trump.

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