On July 9, 2019, a sign for Temasek Holdings is displayed at a news conference in Singapore following the company’s annual review. Getty Images/Bryan van der Beek/Bloomberg Singapore (Singapore) — Temasek, Singapore’s state investment firm, announced Tuesday that the net value of its portfolio hit a new high in the fiscal year that ended March 31. As of end-March, the investor’s portfolio had grown to 381 billion Singapore dollars (about $283 billion), according to its annual report. This compares to Temasek’s portfolio size of 306 billion Singapore dollars a year earlier, when it shrank for the first time since 2016. Temasek’s one-year shareholder return increased to 24.53 percent in Singapore dollar terms as a result of the portfolio expansion, the company said. Over a 10-year period, returns were 7%, and over a 20-year period, they were 8%, according to the report. All dividends paid to Temasek’s shareholders, excluding any capital infusions, were included in those returns. The government of Singapore owns Temasek. Temasek invested 49 billion Singapore dollars and disposed 39 billion Singapore dollars during the financial year, both of which were new highs. Temasek is a venture capital firm that invests in both public and private companies. In its early years, the corporation focused on Singapore enterprises, but has since evolved into a major global investor. The corporation, which is well-known as an investor, has backed big regional internet start-ups like Singapore’s Sea and Indonesia’s GoTo Group. It also owns a share in BioNTech, a German biotech company that collaborated with Pfizer to create the Covid-19 vaccine./n
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