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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

An Asean Government Investment Fund Lost RM73 Billion Last Year

Posted on 26 September 2016

One of the Asean region’s biggest soveriegn fund has been hit by its first loss in 7 years. While local detractors of Malaysia’s ruling government have continued their smear campaign against state-owned investment fund 1MDB and making it appear as a huge failure due to losses, it is Singapore’s state investment giant Temasek Holdings which announced an astounding SG$24 billion (RM73 billion) loss for its last financial year.
Singapore’s sovereign wealth-fund company Temasek Holdings reportedly lost SG$24 billion in its latest financial year report FY2016 dating March 31. The news which saw the investment arm of the country’s CPF retirement funds lost 9.02% was announced only 3 months later on July 7. Temasek Holdings lost SG$24 billion to SG$242 billion from SG$266 billion a year ago, Straits Times Review had reported earlier this year…………………………………….Full Article: Source


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