| There was a palpable sense of self-congratulation in Temasek’s announcement of its latest results a few days ago. Taken at face value, Temasek’s latest results for the year to 31 March 2015 look pretty impressive. They announced a Total Shareholder Return for the year of 19% in Singapore $ terms and a rise in the net value of the portfolio to $266 billion.
This was better than the company’s claims, though not independently audited and highly dubious, of a return of 16% p.a. compounded since inception. However, as the Chairman himself admitted in his statement, this seemingly impressive result was largely on the back of the strong performance of their Singapore and China assets, which made up 28% and 27% of their portfolio respectively at the end of the year...............................................Full Article: Source
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