The value of Temasek’s portfolio has declined for the first time in seven years, with the sharp fall for Standard Chartered, the UK bank, in the past financial year while China’s economic slowdown dented Asian investments.
Over the 12 months to March 2016, the value of its holdings had fallen S$24bn to S$242bn (US$180bn), the Singapore state investment company said yesterday. It was Temasek’s first annual decline since 2009.
Total shareholder return was minus 9 per cent, reflecting declines for its listed investments. Net profit, excluding non-controlling interests, fell 42 per cent year on year to S$8.4bn.
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