Singapore — Singapore's state-linked investment firm Temasek Holdings said yesterday its net profit in the last fiscal year fell 15.4 per cent to Sg$11 billion ($8.7 billion) amid a slower global economy.
However, Temasek said the net value of its worldwide portfolio went up 2.6 per cent to Sg$198 billion in the year ended March 31 from the previous financial year.
The net profit decline was due largely to a fall in contributions from companies in which Temasek holds stakes, the firm's annual report showed.
Contributions from associated companies, partnerships and joint ventures amounted to Sg$10.17 billion, down from Sg$13.44 billion in the previous financial period.
Singapore Airlines, in which Temasek has a 56 per cent stake, saw its net profit for the year to March slump by 69 per cent due to high oil prices and global economic uncertainty. Full story
