It seems that Temasek Holdings, which in September posted a record 67 percent drop in net profit for the year ended March 31, can’t get no satisfaction from its investments these days.Singapore Airlines, which is majority owned by the sovereign wealth fund, reported a worse-than-expected quarterly loss as the global economic slowdown affected profit margins but said the outlook had improved.
The report comes amid tough times for Temasek, which owns 55 percent of the airline. The wealth fund reported a record 67 percent drop in net profit for the year ended March 31, as a collapse in credit markets drove down the value of its stakes including holdings in Bank of America and Barclays.
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