Temasek declared results for the fiscal year to March 2009 last week, showing a net portfolio value of S$172 billion $121 billion, down 7.5% from S$185 billion in fiscal 2008.
The Singapore-based investment firm earned a consolidated group net profit of S$6 billion during the year, one-third of the S$18 billion it posted for the previous financial year. Temasek attributed the drop in net profit to lower contributions from portfolio companies, as well as losses on investments.
We have been building up our liquidity methodically over the last two years with a net cash position as we were mindful of a possible downturn, Ho Ching, Temasek's chief executive officer, said in a written...
¬ Haymarket Media Limited. All rights reserved.
