SINGAPORE: Singapore’s Temasek Holdings reported a 2.2% drop in annual net portfolio value (NPV) in a pandemic-hit year as it unveiled preliminary performance and said it was ready to invest in opportunities arising from volatile market conditions.
“Prior to the onset of the Covid-19 pandemic in the last quarter of the financial year ended 31 March 2020, Temasek’s NPV had been growing steadily and trending well,” Temasek said in a statement on Tuesday.
The drop in Temasek’s portfolio value to S$306 bil (RM938.7 bil) in the latest year compared with a 1.6% gain to a record S$313 bil in the year-earlier period. – July 21, 2020, Reuters
