Aug. 26 (Bloomberg) -- Temasek Holdings Pte, Singapore's $130 billion sovereign wealth fund, said full-year profit doubled as sales of energy and Chinese banking assets countered slowing returns from stock market investments.Net income rose to a record S$18.2 billion ($12.8 billion) in the year ended March 31, up from S$9.1 billion a year earlier, Temasek said in its annual report released today. The company sold Tuas Power for S$4.24 billion in March.
Profit exceeded the average 18 percent annual return on investment since Temasek's inception more than three decades ago. The fund attracted more money to buy stakes in companies including Merrill Lynch & Co. and Barclays Plc, whose shares tumbled as the credit market collapsed and about $9 trillion was erased from global stocks in the past year.
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