WHEN Temasek Holdings announced its results early last month, there was no hiding the stark fact that Singapore’s state investment firm was feeling the full effects of the ongoing US-China trade war.
Shareholder returns plunged to 1.49 per cent, down from 12 per cent year on year, and its portfolio value in Singapore dollar terms rose to S$313 billion (US$230.1 billion) as it made divestments of S$28 billion, compared with new investments of S$24 billion.
Beyond these top-line figures, however, Temasek appears to be following its time-tested strategy of betting big on new trends rather than sticking to old economy behemoths.
Overall, just over half of its investments are in financial services; the telecommunications, media and tech sectors; and life sciences and agribusiness. In its investments in China and India, the emphasis has been on tech companies and life sciences.
Click here for full article on SCMP website: In Singapore, Temasek’s results spark discussion of Chinese investments