GSIC cuts investments in tech companies

SINGAPORE - The Government of Singapore Investment Corp (GIC) has pared down its interests in Malaysia's technology sector in the face of sluggish US demand for the country's electronics products.

A week ago, the investment arm of the Singapore government disposed of its remaining stake in Malaysian Pacific Industries (MPI), a listed chip-maker in Quek Leng Chan's Hong Leong stable.And earlier in Mar 2001, GIC cut its holding in Mesiniaga, the listed distributor of IBM products in Malaysia. It