20151214 Are Temasek’s Singapore investments worth only $74 billion?

In the 2015 Temasek Review (TR), Temasek disclosed its exposure to Singapore has increased by only $24 billion from 2005 to 2015. (below)

Strangely, Temasek bothered to emphasise the increase in dollar term for Singapore investments but provided only percentages for other relevant data. Courtesy of likedatosocanmeh, the data in dollar term is shown in the table below.

Country/Location 2005 (%) S$ 2015 (%) S$
Singapore 49 50 28 74
Asia ex-Singapore 20 21 42 112
Rest of the world 31 32 30 80
Total 100% 103 Bil 100% 266 Bil

At 28% of total portfolio value, investments in Singapore are worth only $74 billion. This is a shockingly low figure.

Name % shares $
Singtel 51 35.6
DBS 29 14.6
PSA 100 10.6
Mapletree Inv 100 9.3
Spore Power 100 8.5
Capitaland 39 5.9
Kep Corp 20 3.2
Total . 87.7

From the table above, the value of its 8 largest investment is $87.7 billion: including all investments, the value is more than $100 billion.

There is too huge a discrepancy which I hope Temasek will be able to clarify. Investments in Singapore are worth more then $100 billion, not $74 billion.

This entry was posted in TEMASEK. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s