PORTFOLIO GROWTH
Temasek expected to report 9% rise in value of investments
Singapore — Singapore state investor Temasek Holdings is likely to book a record S$300bn ($221bn) for the value of its portfolio, powered by gains in DBS Group and Chinese banks, while it steps up investment in tech start-ups. At the same time, Temasek is swooping in on opportunistic purchases with its stake buy in Swiss-based airline caterer Gategroup Holding, weeks after an announced a move to buy into Hainan Airlines. Both companies are part of China’s debt-saddled HNA Group, which has been selling part of its holdings. Analysts estimate Temasek, the top investor in about a third of companies in Singapore’s Straits Times index, to report a net portfolio value of about S$300bn for the year ended March 31, up about 9% versus a nearly 14% increase to S$275bn a year earlier. Temasek said that it would give details of its performance this week. 'S$300bn is quite doable' "Last year was a good year across all asset classes and across the world," CIMB Private Banking economist Song Seng ...
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