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Temasek Gets a Little Boost

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Singapore at sunset

Singapore’s Temasek Holdings got a little boost, moving up to a S$ 223 billion net portfolio value. Temasek marks its 40th anniversary; however, returns struggled with a 1.5% total shareholder return in Singapore dollars. The previous fiscal year, the sovereign fund inked 8.9%. The reason for lowered performance given in Temasek’s annual report is weakness in key Asian markets.

View the Profile of Temasek Holdings

Lim Boon Heng, the chairman of Temasek Holdings, mentioned in the press release, “This year has been one of our most active years for new investments – the most active since the Global Financial Crisis – driven by softer Asian markets of interest, as well as the continued recovery of the global economy.”

Sovereign Wealth Centering on Dollar Assets

Despite recent major Asian investments like the investment in A.S. Watson Group, Temasek is betting big on America investing in numerous sectors. To adapt, manage investments and find more attractive deals, Temasek is sending boots to the ground in London and New York. Recently, Temasek Holdings flew out its CEO Ho Ching to open up the New York office, along with the Prime Minister of Singapore (whose wife is Ho Ching). The opening fanfare was courted with CEOs and U.S. policymakers. A giving signal for more U.S. investments is the shift in Temasek’s currency holdings. Temasek’s currency mix in assets in U.S. Dollars started at 6 percent in 2013 to 12 percent in 2014.

Investment Wins Over Divestment

In over a decade, Temasek has invested S$ 180 billion while divesting S$ 110 billion. For March 2014 end, Temasek had net investment of S$ 14 billion, compared to S$7 billion in both 2012 and 2013. The last time net investment crossed S$ 10 billion was in 2008 at S$ 15 billion.

Group Net Profit – Temasek Holdings

Period Group Net Profit
31 March 2014 S$11 billion
31 March 2013 S$11 billion
31 March 2012 S$11 billion
31 March 2011 S$13 billion
31 March 2010 S$5 billion
31 March 2009 S$6 billion
31 March 2008 S$18 billion
31 March 2007 S$9 billion
31 March 2006 S$13 billion
31 March 2005 S$8 billion

Source: Temasek Holdings

QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Discloses Investment in Khairat Bahrain

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Bahrain Mumtalakat Holding Company disclosed an investment in Sudan called Khairat Bahrain. This is an agricultural investment in Sudan. The food and agriculture sector is key investment sector for many Gulf-based state investors. Khairat Bahrain is located in the world’s richest expanse of groundwater (the Nubian Sandstone Basin) occupying an area of approximately 100,000 feddans (400 square kilometers). The Nubian Sandstone Aquifer System is the world’s largest known fossil water aquifer system.

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Temasek Acquires Cybersecurity Firm Sygnia

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Singapore’s Temasek Holdings agreed to acquire Sygnia, Inc., an Israeli cybersecurity technology and services provider. Unverified estimates of the deal amount are around US$ 250 million. Sygnia runs out of Tel Aviv, but has an office in New York. Sygnia assists companies respond to cyber threats.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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