Temasek's Net Portfolio Rose to US$283 Billion for Fiscal Year Ended March
By P.R. Venkat
Singapore's Temasek Holdings is cautiously optimistic on the
global economic recovery's prospects in the short to medium term,
but warns of uncertainties surrounding Covid-19 variants and
China-U.S. trade tensions.
The company's net portfolio for the year ended March rose 24.5%
to 381 billion Singapore dollars (US$283 billion), Temasek said in
its annual report on Tuesday. Temasek's fiscal year runs from April
"As a provider of catalytic capital, Temasek can help companies
thrive, and tackle the global challenges of our time," Dilhan
Pillay, chief executive of Temasek International said.
Temasek holds stakes in some of the world's largest listed
companies, including Bayer AG, Chinese medical researcher WuXi
AppTec Co. and Standard Chartered PLC. Some of the unlisted
companies in its portfolio include Singapore's PSA International
Pte. Ltd.--one of the world's largest port operators--and Mapletree
Investments Pte. Ltd., a real-estate development and investment
During the last fiscal year, the company's investments totaled
S$49 billion in sectors including technology, financial services,
industrial and energy. Divestment came to S$39 billion.
"Our aim is to build a forward-looking and resilient
portfolio--one that delivers sustainable economic growth, and at
the same time, enables the transition to a low-carbon economy,"
said Nagi Hamiyeh, Temasek's joint head of investment and head of
Temasek, which says it doesn't manage its portfolio according to
short-term market changes due to its focus as a long-term investor,
expects the U.S. to continue recording strong growth.
The company's 10-year total shareholder return stood at 7%,
while the 20-year return comes to 8%.
China remains Temasek's largest geographical exposure at 27%,
followed by Singapore at 24%. During the fiscal year, financial
services and technology sectors together accounted for 43% of its
"We are optimistic that economic growth will be strong this year
and next. Vaccination programs across the U.S., Europe and China
are likely to stimulate and sustain broad-based economic activity,"
Fock Wai Hoong, managing director, investment, telecommunications,
media & technology said.
Write to P.R. Venkat at firstname.lastname@example.org
(END) Dow Jones Newswires
July 13, 2021 03:14 ET (07:14 GMT)
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