Temasek closes its fiscal year with upbeat results

Temasek Holdings Pte, a Singapore-based investment company -photo source AFP

Accordingly, the company saw its net portfolio value rose 19.2 per cent to S$266 billion ($193.3 billion), more than double the portfolio value of S$103 billion 10 years ago.

The company also announced a one-year return to shareholders of 19.2 per cent, underpinned by strong performance of Singapore and China portfolios.

Its three-year total shareholder return (TSR) was set at 9.62 per cent, longer term 10-year and 20-year TSRs were 9 per cent and 7 per cent, respectively.

Temasek ended the year in a net cash position.

In its fiscal year, the company registered new investments reaching S$30 billion, almost half flowing in growing Asia, followed by recovering North America and Europe. It also saw record divestments of S$19 billion, capitalising on liquidity-driven market rallies.

“This was the most active year for us since the global financial crisis,” Temasek chairman Lim Boon Heng commented.

Besides to business activities, the company has made contributions to community development.

To date, it has made 16 endowments, including Temasek Emergency Preparedness Endowment Fund which was launched last year as part of Temasek’s 40th anniversary commemoration.

In total, the company’s non-profit philanthropic organisations have touched the lives of over 240,000 people in Singapore and Asia.

For example, over 13,000 disadvantaged and vulnerable children in Singapore were provided with standard masks and micro ventilators under a Temasek Cares Stay Prepared initiative in April 2015. This followed Temasek Cares’ initiative to distribute quality masks to all households in Singapore a year ago.

In line with efforts to build resilience and prepare for emergencies and recovery,
Temasek Cares also initiated a programme in 2014 to train counsellors in Singapore to support children who have experienced trauma.

Commenting on future economic outlook, Ravi Lambah, senior managing director, Investment, noted, “We are cautiously optimistic for the next few years. The US economic recovery, while uneven at times, remains on track. In China, growth is taking place at a more sustainable rate.”

“At Temasek, we embrace the future and all that it brings,” Temasek chairman Lim Boon Heng concluded, “we continue to look to tomorrow, as we have always done, working together to turn bold dreams into enduring reality.”