Temasek Holdings Pte’s sale of Chinese bank shares probably helped Singapore’s state-owned investment company weather losses from the European debt crisis in the past year.
The company sold shares in China Construction Bank Corp. (939) and Bank of China Ltd. in the year ended March, profiting from stakes held since their initial stock sales. Temasek, whose assets rose 3.8 percent to a record S$193 billion ($153 billion) as of March 2011, usually releases its annual report in July.
Temasek probably struggled to boost its total shareholder return beyond the 4.6 percent in the previous year as Europe’s turmoil and the lackluster U.S. economic recovery roiled markets, ..... Full story
