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    BAYN   DE000BAY0017


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Temasek's Net Portfolio Rose to US$283 Billion for Fiscal Year Ended March

07/13/2021 | 01:14am EDT

By P.R. Venkat

Singapore's Temasek Holdings is cautiously optimistic on the global economic recovery's prospects in the short to medium term, but warns of uncertainties surrounding Covid-19 variants and China-U.S. trade tensions.

The company's net portfolio for the year ended March rose 24.5% to 381 billion Singapore dollars (US$283 billion), Temasek said in its annual report on Tuesday. Temasek's fiscal year runs from April to March.

"As a provider of catalytic capital, Temasek can help companies thrive, and tackle the global challenges of our time," Dilhan Pillay, chief executive of Temasek International said.

Temasek holds stakes in some of the world's largest listed companies, including Bayer AG, Chinese medical researcher WuXi AppTec Co. and Standard Chartered PLC. Some of the unlisted companies in its portfolio include Singapore's PSA International Pte. Ltd.--one of the world's largest port operators--and Mapletree Investments Pte. Ltd., a real-estate development and investment company.

During the last fiscal year, the company's investments totaled S$49 billion in sectors including technology, financial services, industrial and energy. Divestment came to S$39 billion.

"Our aim is to build a forward-looking and resilient portfolio--one that delivers sustainable economic growth, and at the same time, enables the transition to a low-carbon economy," said Nagi Hamiyeh, Temasek's joint head of investment and head of portfolio development.

Temasek, which says it doesn't manage its portfolio according to short-term market changes due to its focus as a long-term investor, expects the U.S. to continue recording strong growth.

The company's 10-year total shareholder return stood at 7%, while the 20-year return comes to 8%.

China remains Temasek's largest geographical exposure at 27%, followed by Singapore at 24%. During the fiscal year, financial services and technology sectors together accounted for 43% of its portfolio.

"We are optimistic that economic growth will be strong this year and next. Vaccination programs across the U.S., Europe and China are likely to stimulate and sustain broad-based economic activity," Fock Wai Hoong, managing director, investment, telecommunications, media & technology said.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

07-13-21 0314ET

Stocks mentioned in the article
ChangeLast1st jan.
BAYER AG 0.13% 45.27 Delayed Quote.-5.99%
DJ INDUSTRIAL -1.78% 33970.47 Delayed Quote.13.00%
MSCI SINGAPORE (GDTR) 0.30% 6486.843 Real-time Quote.12.58%
STANDARD CHARTERED PLC -6.63% 412.7 Delayed Quote.-11.78%
WUXI APPTEC CO., LTD. 5.72% 152.4 End-of-day quote.35.75%
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Sales 2021 42 596 M 49 953 M 49 953 M
Net income 2021 860 M 1 009 M 1 009 M
Net Debt 2021 40 534 M 47 535 M 47 535 M
P/E ratio 2021 26,8x
Yield 2021 4,50%
Capitalization 44 474 M 52 194 M 52 156 M
EV / Sales 2021 2,00x
EV / Sales 2022 1,90x
Nbr of Employees 99 439
Free-Float 100,0%
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