Temasek Posts First Annual Drop in Portfolio Value Since Global Debt Crisis
Temasek Holdings registered an annual drop for the first time in the value of its portfolio since the global financial crisis, due to falls in share prices of its holdings in financial and resources companies. Temasek said its total assets declined 9% to SGD$242 billion in the year ended 31st March from SGD$266 billion a year earlier. Its net profit fell 43% to SGD$8 billion.
“Its total assets declined 9% to SGD$242 billion in the year ended 31st March from SGD$266 billion a year earlier.”
The fund which holds stakes in Standard Chartered PLC. China Construction Bank and Singapore Airlines warned that the current financial year which ends in March 2017 could prove to be challenging.
About China Construction Bank
China Construction Bank (Asia) Corporation Limited [“CCB (Asia)”] is the retail and commercial business platform of China Construction Bank Corporation [“CCB”] in Hong Kong. As of April 30, 2016, CCB (Asia) has 50 branches in Hong Kong and offers a wide array of banking products and services to customers, including consumer banking services, commercial banking services, corporate banking services, private banking services and cross-border financial services, etc.
Visit: China Construction Bank
The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals. Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.
Get The Wealth Insider Daily
- For Press Release, please contact email@example.com
- For Media-related enquiries, please contact firstname.lastname@example.org
- For Advertisement, please contact our official ad agency