Singapore’s Temasek reports worst returns in 7 years
Singaporean state-owned investor Temasek Holdings has reported its worst returns since 2016 and warned it has slowed investment amid recession risks, higher interest rates and geopolitical tensions.
Temasek, one of the biggest and most active investors globally, said the net value of its portfolio had shrunk to S$382bn (US$285bn) in the financial year to March, as public and private equity capital markets fell and the technology sector was hit particularly hard. That compared with it being worth a record $403bn in 2022. A S$7bn loss was driven by mark-to-market accounting.
The Asian investor, which has two-thirds of its portfolio in the region and has backed some of the world’s biggest start-ups from Jack Ma’s Ant Group in China to San Francisco and Dublin-based payments processing group Stripe, reported a 5.07 per cent drop in total shareholder returns. This compared with a 5.8 per cent increase the previous year and was far below the 24.5 per cent increase in 2021. The group slowed its investment pace for the period, calling it “the most challenging year for markets over the last decade”.
这家亚洲投资者的投资组合有三分之二分布在亚洲，它曾支持世界上一些最大的初创企业，从马云(Jack Ma)的蚂蚁集团(Ant Group)，到总部位于旧金山和都柏林的支付处理集团Stripe。它报告股东总回报率为-5.07%，与之前一年5.8%的股东总回报率形成对比，且远低于2021年24.5%的股东总回报率。该集团在该财年放慢了投资步伐，称其为“过去十年来市场面临最艰巨挑战的一年”。