SINGAPORE – Singapore’s state investment company Temasek Holdings’ net value of its portfolio reached a record high in the financial year that ended March 31, buoyed by a global equities rally and the public listing of some of its holdings.
The investor, in its annual report said its portfolio grew to S$381 billion (RM1.18 trillion) as of end-March, up S$75 billion from the previous year.
The size of Temasek’s portfolio fell for the first time since 2016 last year, when it recorded a net portfolio value of S$306 billion.
“The portfolio expansion came as Temasek’s one-year shareholder return jumped to 24.53%,” the company said.
“Returns were 7% over a 10-year period and 8% over 20 years.”
Those returns took into account all dividends paid to Temasek’s shareholder, minus any capital injections.
During the year, Temasek invested S$49 billion and divested S$39 billion, record numbers on both counts.
“Sustainability remains at the core of all that we do. We aim to reduce the net carbon emissions of our portfolio to half the 2010 levels by 2030. This signals our ambition for net zero carbon emissions by 2050.”
Temasek is owned by the governme`nt of Singapore and is an active equity investor in both the public and private space.
The company invested mainly in Singapore companies in its early days, but has turned into a major global investor in recent years.
It was to invest in a RM1.3 billion business outsourcing project with the Penang government but that was cancelled in 2019 due to “market conditions”.
Its other investments are in major regional internet start-ups such as Singapore-based Sea and Indonesia’s GoTo Group. It also has a stake in German biotech firm BioNTech, which developed a Covid-19 vaccine with American pharmaceutical giant Pfizer. – The Vibes, July 13, 2021