Arab Today, arab today temasek global portfolio reaches record high 169 bn
Last Updated : GMT 10:59:27
Arab Today, arab today
Arab Today, arab today

Temasek global portfolio reaches record high $169 bn

Arab Today, arab today

Arab Today, arab today Temasek global portfolio reaches record high $169 bn

Singapore - AFP

Singapore state investment giant Temasek said Thursday the value of its global portfolio rose to a record high of Sg$215 billion ($169 billion) in the year to March thanks to a rebound in stock markets. The firm said in a statement its holdings jumped 8.6 percent from the previous financial year, and are more than three times larger than at the height of the SARS scare 10 years ago. Temasek -- which has stakes in global names including Standard Chartered bank, Spanish energy giant Repsol and DBS bank -- was boosted by an equities rebound last year as the US economy picked up and eurozone fears abated. \"Last year, there were some signs of recovery in the global economy. The severe disruptive risks from the global financial crisis subsided,\" Temasek chairman S. Dhanabalan said in a statement. However, he warned \"structural risks have not been completely resolved\". \"Despite the turmoil over the last decade, the Temasek portfolio value more than tripled from a trough of Sg$61 billion in March 2003, when the SARS epidemic hit Asia,\" he added. Temasek executive director Ho Ching said however that the value of the company\'s portfolio would depend on the performance of global stocks each year. \"We are almost entirely invested in equities,\" she said in a statement. \"This means a lot more year-to-year volatility, as we have seen over the last 10 years,\" she added. The company said it invested Sg$20 billion in the financial year ending March 31, with the bulk of the investments going into energy and resources firms. It said it divested Sg$13 billion. However, financial services continue to make up a sizeable chunk of its portfolio, accounting for 31 percent, including stakes in the Industrial and Commercial Bank of China, the world\'s biggest lender by market capitalisation. Temasek also said Asia remained the anchor of its investments, with the region accounting for 71 percent of underlying assets. Singapore accounts for 30 percent of its total investments and China 23 percent, while exposure to North America and Europe was at 12 percent. Temasek, one of Singapore\'s two sovereign wealth funds, said its three biggest holdings were in Singapore Telecom, China Construction Bank, and Standard Chartered PLC. Stakes in the three firms make up 29 percent of Temasek\'s global portfolio. Chia Song Hwee, head of Temasek\'s investment Group, said at a news conference that while Temasek would continue to be anchored in Asia, it would seek new opportunities in North America and Europe despite the market uncertainty in both regions. \"North America continues to be the centre stage for innovation... and Europe has many good and steady companies and we stand ready to assess them,\" he told reporters. China\'s current liquidity crisis would not affect the Chinese banks Temasek had stakes in as they were well capitalised, Chia said. \"We invest in banks as a proxy to their underlying economies. Our view of the economy in China at least over the next 15 to 20 years continues to be positive mainly because of the demography,\" he added. Desmond Chua, market analyst at CMC markets in Singapore, said China\'s ongoing economic reforms and a potential end of massive stimulus measures in the United States this year could hamper Temasek\'s growth opportunities. He said the firm\'s rate of return could slow to at least 6.0 percent in the current fiscal year from 8.86 percent in the year ended March 2013. But he added \"it won\'t matter to them since they think long-term\". Temasek said it was looking to expand it stake in industries such as clean technology, life sciences and consumer technology.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today temasek global portfolio reaches record high 169 bn Arab Today, arab today temasek global portfolio reaches record high 169 bn

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom, China plunges into snow biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom, China plunges into snow biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues

GMT 05:34 2017 Monday ,27 February

Brexit sows seeds of doubt for British farmers

GMT 06:38 2017 Sunday ,26 February

US rig count increases

GMT 06:01 2017 Sunday ,26 February

BRIC funds see inflows amid emerging equity boom

GMT 05:43 2017 Sunday ,26 February

Al-Gergawi quits Dubai Holding to focus on govt role

GMT 05:14 2017 Sunday ,26 February

Oil prices to average $50-$70 through 2022

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday