Singapore’s Temasek set to post record portfolio in global equities rally
SINGAPORE, July 12 (Reuters) – Singapore state investor Temasek Holdings’ portfolio value likely rebounded to scale a record in the year ending March, boosted by a rally in global markets and the public listing of some of its holdings.
Analysts expect the value of Temasek’s assets to have jumped over 20% in the year ending March, pushing up the portfolio value to roughly S$375 billion ($277.7 billion) – after dipping 2.2% to S$306 billion a year ago – which marked the first drop after three consecutive years of gains.
The long-term outlook for Temasek, one of the world’s biggest state investors, has been clouded by its support to pandemic-hit businesses. Temasek bulked up funding to Singapore Airlines (SIAL.SI) and offshore marine services firm Sembcorp Marine (SCMN.SI), among others. read…