Temaek selling chartered semiconductor?

(Source)

"Singapore's Temasek Holdings is seeking to sell its stake in Chartered Semiconductor Manufacturing Ltd and has approached Taiwan Semiconductor Manufacturing Co Ltd (TSMC) (2330.TW), the Economic Daily News reported, citing market rumors."

Looks like its the end for the semiconductor industry in Singapore? Cutting losses or an attempt to save the company? Chartered recently also had a pay cut too, looks like it's a terrible time for those folks. Will they lay me off as well? gg