In the latest financial year result as of March 31, Singapore’s sovereign wealth fund company Temasek Holdings announced that it is currently holding S$266 billion in net portfolio.
Temasek Holdings also revealed that S$30 billion was invested in the previous financial year, with about half going to investments in Asia, followed by North America and Europe. The top three sectors they invested in are consumer, financial services, life sciences and agriculture. Only 28% of its total investment are invested in Singapore market, while the China market is its biggest foreign investment at 27%.
The sovereign wealth fund company handles assets mainly from Singaporeans’ retirement scheme, the Central Provident Fund (CPF), and is managed as a privatized company by the wife of the Singapore Prime Minister, Ho Ching.
Recent calls for transparency and accountability have pressured Temasek Holdings to reveal more about its financial performance. However the private company and the Singapore Government are unwilling to do so and that fueled speculations of corruptions and unreported losses. The Singapore Government has been especially defensive with the recent notable case where the Prime Minister Lee Hsien Loong himself came out to personally sue a CPF blogger, Roy Ngerng, for defamation when he asked questions about the CPF and the performance of Temasek Holdings.