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From Christine Gaylican, Opalesque Asia

Despite a glaring impact in its financials in the previous fiscal year, Singapore-based investment firm Temasek Holdings Ltd. remains optimistic on Asia and other growth regions for the long term.

In a statement (source), Temasek's chief executive officer Ho Ching said: " We believe that as Asia progresses, it will continue to de-risk. We are comfortable to overweight Asia. We are also adding exposures to other growth regions like Latin America. Our portfolio exposure today is almost equally balanced between the more developed economies and the newer growth regions."

Temasek's investment portfolio as of March 31, 2009 was heavily weighted towards Asia, with almost three-quarters invested in the region -- 31% in Singapore, 43% in other Asian economies. Of the remainder, 22% is invested in OECD economies and 4% in new markets such as Latin America and Russia.

Temasek invested Hong Kong-based trading firm Li & Fung and Singapore-based commodities trader Olam International. It also had rights entitlements in existing portfolio companies, including Standard Chartered, DBS Bank and CapitaLand, that completed rights issues during the year.

Impact of global crisis

Temasek has reported a 29% decline in its portfolio value to $92 billion at the end of its fiscal year as an impact of the global fina......................

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