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- Group net profit was a record S$18 billion, double
the year before
- Total shareholder return (TSR) by market value
for the year was 7% with lower marked-to-market gains
due to market uncertainties at the March year end.
- TSR by shareholder funds was a solid 17%,
reflecting strong operating performance of Temasek
portfolio companies and realised gains from investment
activities.
- Wealth added (WA) was S$6 billion below cost
of capital hurdle due to sharp global corrections.
- Net portfolio value grew 13% to S$185 billion,
or 24% in USD terms to US$134 billion.
- The reshaping of Temasek’s portfolio
continued. Exposure to Asia (ex-Singapore and Japan)
rose to 41% from 40% previously despite S$12 billion
worth of divestments, while investments in OECD economies
(excluding Korea) increased from 20% to 23% of the
portfolio.
- Temasek’s exposure to Singapore was
stable at S$60 billion but this accounted for a smaller
share of the portfolio – 33%, compared to 38%
last year.
- Investments post-2002, when the focus on
Asia began, are now valued at S$77 billion, delivering
a six-year compounded return of 32% per year compared
to a six-year compounded return of 16% per year for
the rest of the portfolio.
- Investments in the financial services sector
form the largest sector of the portfolio at 40%, with
telecommunications and media being the second
largest sectoral exposure at 24% of the portfolio
(versus 38% and 23% respectively in financial year
ended March 2007).
- During financial year ended March 2008, Temasek
made S$32 billion of new investments and monetised
S$17 billion of its portfolio, compared with S$16
billion of new investments and S$5 billion of divestments
the year before.
- Volatility has increased substantially. Value-at-Risk
has increased to S$40 billion on a portfolio of S$185
billion. This means a 16% probability of a value loss
of over S$40 billion on a marked-to-market basis in
the 12 months to March 2009.
- Temasek’s support for the community
is almost S$1 billion over the last decade with S$500
million of endowment to Temasek Trust. Among its principal
beneficiaries, Temasek Foundation confirmed a commitment
of S$16 million to fund 14 projects across Asia in
its first year since its formation in May 2007.
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