Temasek’s biggest financial assets dragged company performance


Find out who slowed the company’s returns.

According to CIMB Research, Temasek’s assets probably grew at a slower pace in the year to March because the value of some of its biggest financial assets declined.

The state-owned investment company will release its annual review today, and CIMB says that it may have increased the value of its holdings by about 4% in the year to March 31 compared to 8.6% in the previous year.

Bloomberg indicated that the top four lenders in Temasek’s portfolio include China Construction Bank and Industrial & Commercial Bank of China, and share prices of Chinese banks declined as China’s economy heads for the weakest expansion in 24 years amid rising debt and a clampdown on shadow banking.

View the report here.
 

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