Temasek’s exposure to China rose to 29% of assets as of March 31, compared with 24% for Singapore, the lowest exposure for its home market since the company was formed in 1974.
SINGAPORE: Temasek Holding Pte’s holdings in China surpassed its home market of Singapore for the first time following gains in companies including Alibaba Group Holding Ltd., according to the state investor’s annual report.
Temasek’s exposure to China rose to 29% of assets as of March 31, compared with 24% for Singapore, the lowest exposure for its home market since the company was formed in 1974. The firm’s biggest local holdings, from Singapore Telecommunications Ltd to DBS Group Holdings Ltd, saw their valuations tumble this year as Covid-19 hit global markets.
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