Singapore :Singapore investment giant Temasek Holdings said Tuesday the value of its global portfolio reached a record high last year but will temper investments this year owing to brewing trade and geopolitical tensions.
Net global holdings expanded to Sg$308 billion ($235 billion) in the financial year ended March 31, up 12 percent from the year before in local Currency terms, the company said in its annual report.
Temasek, one of the city-state’s two main investment vehicles, said it invested Sg$29 billion over the past year and divested Sg$16 billion.
“This record net portfolio value… was up Sg$33 billion from last year, bolstered by good global economic momentum and buoyant equity markets,” chairman Lim Boon Heng said in the firm’s annual report.
He added however that “we are tempering our investment pace in the year ahead”, citing downside risks including “rising trade and geopolitical tensions, plus monetary and financial stresses in some key economies”.