Temasek Holding’s Disappointing Financial Results For Last Year

As a result of the global financial crisis,Temasek Holdings which is owned by the Government Singapore registered very disappointing financial results for its last year financial statement ending March:- 

• Net profit plunged 67 percent to six billion Singapore dollars (4.25 billion US) in the year to March. Net profit fell from the record 18 billion dollars achieved in the financial year ending March 2008.
• The value of its worldwide investment portfolio also fell 30 percent to 130 billion dollars as of end-March from 185 billion dollars the previous financial year.  

The losses are mainly due to generally weaker operating performances of  Temasek’s portfolio companies plus realised gains and losses from its divestments.According to sources quoted by Dow Jones Newswires,the hugh realized losses came particularly from its divestment of  its investments in two banks namely Merrill Lynch and Barclays which is estimated to be more than 5.4 billion US dollars.

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