Salem Radio Network News Friday, July 23, 2021

Business

Singapore’s Temasek reports record portfolio value, boosted by market rally

SINGAPORE (Reuters) – Singapore’s Temasek Holdings reported a 25% rise in its portfolio value to a record S$381 billion ($282 billion) in the year ended March 2021, with gains powered by a global equities rally and the public listing of some of its holdings.

The gain in its portfolio value came after a 2.2% drop in the previous year, with the state investor notching up record investments and divestments in the latest year, Temasek executives told a news conference on Tuesday.

Ranked among the biggest investors in the world, Temasek is anchored in Asia, with a 64% exposure to the region as measured by underlying assets of its portfolio companies, most of which are in China and Singapore.

($1 = 1.3505 Singapore dollars)

(Reporting by Anshuman Daga and Aradhana Aravindan; Editing by Christopher Cushing)

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