Temasek annual report shows rebound
Singapore SWF Temasek Holdings' portfolio rebounded to S$186 billion ($134.4 billion) by the financial year ending March 31st 2010 - a figure that is slightly above 2008's S$185 billion ($133.7 billion), and well above 2009's S$130 billion ($94 billion), the SWF announced in its annual report.
Temasek claims a total shareholder return of more than 42% for the financial year that just ended, with S$10 billion ($7.2 billion) invested or recapitalized; S$3 billion ($2.16 billion) divested; and a S$5 billion ($3.6 billion) net profit. The report also noted that Temasek has now rebalanced its portfolio toward Asia, including Singapore, to the extent of up to 80% of underlying exposure.
"We kept our cool, and focused on what we needed to do as a long-term investor," said Simon Israel, Temasek Executive Director. "We maintained a liquid posture, kept our powder dry, made sure the home base was secure, and invested and divested steadily." Israel also indicated that Temasek CEO Ho Ching will remain in office for the present, with no immediate plans for a successor.
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