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Singapore's Temasek portfolio jumps to record $198bn


SINGAPORE -  Singapore state investment giant Temasek Holdings' global portfolio has netted a record high valuation, the fund said Tuesday, in a sharp turnaround from the previous year as global markets regain momentum.

Temasek -- a strategic investor that stresses long-term performance rather than year-on-year gains -- holds among its portfolio telecoms group SingTel, Singapore Airlines and banking giant China Construction Bank.

Last year it also took full ownership of Singapore's embattled public transport operator SMRT Corp in a deal worth Sg$1.2 billion ($866.3 million).

The company announced that its global assets were worth $198 billion (Sg$275 billion), its largest portfolio value ever. It was an increase from $180 billion in 2016, which saw the fund?s portfolio shrink for the first time in seven years.

"While the global recovery is gaining momentum, there are still uncertainties, both in the medium as well as longer term," said Temasek chairman Lim Boon Heng.

Net profit increased 66 percent year-on-year to $10 billion compared to the previous year's $6.0 billion, Temasek said in its annual report.

Investors worldwide are grappling with the global economy's sluggish recovery, with Singapore's sovereign wealth fund GIC warning Monday that it was digging in for a long period of uncertainty.

Michael Buchanan, Temasek's head of strategy and managing director of the portfolio strategy & risk group, said global growth is expected to continue.

"There are some political and geopolitical risks on the horizon, as well as some downside scenarios, but overall, we are cautiously confident that the various key economies will weather their medium term challenges," he added.



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Muslim Global: Singapore's Temasek portfolio jumps to record $198bn
Singapore's Temasek portfolio jumps to record $198bn
Muslim Global
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