Singapore state investment firm Temasek releases annual report 2021

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A signage for Temasek Holdings is displayed during a news conference following the company’s annual review in Singapore on July 9, 2019.

Bryan van der Beek | Bloomberg | Getty Images

SINGAPORE — Singapore’s state investment company Temasek said Tuesday the net value of its portfolio reached a record high in the financial year that ended March 31.

In its annual report, the investor said its portfolio grew to 381 billion Singapore dollars (around $283 billion) as of end-March. That’s compared with 306 billion Singapore dollars a year ago, when the size of Temasek’s portfolio fell for the first time since 2016.

The portfolio expansion came as Temasek’s one-year shareholder return jumped to 24.53% in Singapore dollar terms, the company said. Returns were 7% over a 10-year period and 8% over 20 years, it added. Those returns took into account all dividends paid to Temasek’s shareholder, minus any capital injections.

Temasek is owned by the government of Singapore.

During the financial year, Temasek invested 49 billion Singapore dollars and divested 39 billion Singapore dollars — record numbers on both counts.

Temasek is an active equity investor in both the public and private space. The company invested mainly in Singapore companies in its early days, but has turned into a major global investor in recent years.

The company — a closely followed investor — has invested in major regional internet start-ups such as Singapore-based Sea and Indonesia’s GoTo Group. It also has a stake in German biotech firm BioNTech, which developed a Covid-19 vaccine with American pharmaceutical giant Pfizer.

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