Two multibillion dollar telecoms takeovers may be in doubt after the recent military removal of Thailand's unpopular leader.
Market observers now believe that Thailand's military-appointed interim government is more likely to follow the rules on foreign ownership of Thai firms.
The Thai government may ask Temasek to reduce its effective 96 per cent stake in Thailand's Shin Corp to below 49 per cent in line with regulations, according to a report in local daily The Nation quoting an "unidentified government source".
Shin Corp controls a mobile phone company, TV broadcasting, satellite communications and other interests in Thailand.
Temasek representatives told Thai media yesterday that they would not comment on "market rumours".
The increased scrutiny of foreign investments has apparently been fuelled by a furore over Temasek's takeover of Shin Corp earlier this year, which used various intermediaries and holding companies to bypass a 49 per cent limit on foreign control.
Shin Corp was founded by Thailand's deposed prime minister, Taksin Shinawatra, who still controlled the firm until its January sale for $1.9bn to Temasek.
The tax-free sale added to Shinawatra's unpopularity with urban and middle-class Thais, and provided further impetus for his removal in a non-violent military coup last month.
Temasek is closely linked to Singapore's president, who has the power of veto over chief executive and board member selections. Temasek's current chief executive is the president's wife.
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago