08.07.2015 - Singapore’s Temasek Shrugs Off China Volatility
Singapore’s state investment firm Temasek Holdings Pte. Ltd. on Tuesday played down concerns about slowing economic growth and volatile equity markets in China, its second-largest investment destination, as it reported a sharp jump in net profit for its most recent fiscal year. Temasek said net profit rose to 14.5 billion Singapore dollars (US$11 billion) in the year ended March, up 32% from the year before, largely thanks to strong performance from its holdings in a range of domestic companies and Chinese banks. Its portfolio value grew 19% to a record S$266 billion, in the most active year for the company since the global financial crisis, when it bought stakes in high-profile Western banks such as Barclays PLC and Merrill Lynch...............................................Full Article: Source
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