Saudi Gazette, 11 Feb 2009
Singapore – Falling profits, a weakened currency and decreased international travel all plagued Singarpore from its largest airline to its telecom company and its sovereign wealth fund.
The sovereign wealth fund Temasek Holdings, which helped bail out Wall Street icon Merrill Lynch, fell 31 percent over eight months last year, a minister said Tuesday, according to local radio.
Senior Minister of State for Finance Lim Hwee Hua told parliament that Temasek’s portfolio of investments fell to $84.7 billion, 31 percent down from $185 billion, in the eight months to the end of November.
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