Singapore's state-owned investor Temasek Holdings' net portfolio rose to a record high of SGD 434 billion ($338 bllion) during the last fiscal, powered by the rise in share prices of its Singaporean holdings as well as assets in US, India and China, a statement said on July 8.
Temasek’s India portfolio has risen to close to around SGD 40 billion ($27 billion), representing 8 percent of the net portfolio value, and the investor has plans to invest further in areas like consumption, financial services and healthcare. "We maintain a positive outlook given India’s strong domestic market, especially in the areas of consumer, financial services, and healthcare," Temasek said. (1 SGD = 0.78 USD)
Despite the uncertain backdrop regarding global trade, Temasek said India’s growth is 'likely to remain resilient', driven by a capex focus. "It will also be accelerated by the recovery in domestic consumption, and the accelerated pace of production from supply chain reorientation," the statement added.
During the year, Temasek bought a near 9 percent stake in snacks maker Haldiram's, worth nearly $1 billion in one of India's largest private equity deals in the consumption segment. For Temasek, India remains a key geopolitical player both in the region and globally, highlighting that government is eager to 'advance and strengthen relations' with strategic partners.
Temasek's global portfolio has evolved into three major segments - its portfolio companies (TPCs), Global Direct Investment (GDIs), and through partnerships, funds and AMCs (PFAs). From over 90 percent of its portfolio comprising of TPCs in early 2000s, Temasek has achieved a 40-40-20 split across the three segments. Global Direct Investments are now 36 percent of Temasek's 2025 portfolio.
This, Temasek said, is a reflection of the 'forward-looking strategies' deployed over the years, and the investor will continue to adopt in the years ahead. Looking ahead, Temasek said it sees global policy uncertainty as a potential negative impact which will put pressure on Singapore's open economy this year.
On China, Temasek continues to believe in the longer-term prospects, and sees opportunities in green economy and life sciences innovations. It is also positive on China's leading domestic brands that are scaling up in a resilient manner.
On the US economy, Temasek said risks around immigration, tariffs and fiscal tightening has 'likely peaked', and America's world-class capabilities in AI could potentially boost economic and productivity growth. Temasek is bullish on artificial intelligence with stakes in chip majors Nvidia and Broadcom.
Temasek's books of last fiscal had closed shortly before US President Trump announced Liberation Day tariff on April 2.
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