Temasek portfolio value jumps by a fifth to be worth $ 197 b

SINGAPORE (Reuters): Singapore state investor Temasek Holdings Ltd. said the value of its portfolio jumped by almost a fifth to be worth a record S$ 266 billion ($ 197 billion), helped by stock gains for China banks and Singapore companies.

Temasek also said it made new investments of S$ 30 billion in the last financial year, the biggest annual amount since the global financial crisis.

Its portfolio value grew by S$ 43 billion or 19.3% in the year that ended in March, its biggest gain in five years.

Stocks in China surged last year after the country moved to open up its equity markets with a stock trading link between Hong Kong and Shanghai. Recently, however, Chinese stocks have tumbled, prompting authorities to unleash a slew of support measures.

In its previous financial year, Temasek’s portfolio grew 3.7%.

Singapore and China firms account for more than half of Temasek’s portfolio, but increasingly it has begun to focus on opportunities in the United States and Europe, where it has set up new offices.