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Temasek holdings profits up

SINGAPORE: Temasek Holdings on Thursday announced that the value of its portfolio assets hit a new record of S$193 billion in its financial year ended March 2011. 

That was an increase of 3.8 per cent from S$186 billion in the previous year. 

Group net profit was S$13 billion, more than double the S$5 billion a year ago. 

Temasek said that was due to higher contributions from investment activities and improved profits from its portfolio companies. 

From the shareholder perspective, total returns to Temasek’s shareholder for the year was a modest 4.6 per cent.

The Singapore investment firm said it has been continuing its 2002 strategy of steady and active international investment, particularly in Asia. 

That was when Temasek began shifting its portfolio weight towards the region. 

Its investments made after 2002 delivered annualised returns of 21 per cent over the last nine years, or over 5.5 times returns for the period. 

For the portfolio of earlier vintage investments made before March 31, 2002, comprising mainly Singapore-based investments, they delivered annualised returns of 11 per cent over the last nine years. 

Temasek ended the year with an underlying portfolio exposure of 77 per cent in Asia, including 32 per cent in Singapore. 

Mature economies of Australia & New Zealand and North America & Europe comprised a steady 20 per cent, while Latin America and other growth regions made up three per cent.

Temasek added that it remains optimistic on the longer term outlook in Asia and other growth economies.  

Adapted from channelnewsasia

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