Temasek’s net portfolio value reaches all-time high of $283b

Temasek announced that its net portfolio value (NPV) reached an all-time high in the financial year that ended on March 2021. The Singapore state-owned investment firm recorded an NPV of S$381 billion (US$283 billion) for the year, a jump of S$75 billion (US$55 billion) from the previous year.

In early 2020, the company’s NPV fell by 2% to S$306 billion (around US$214 billion).

Photo credit: Temasek

Despite the Covid-19 pandemic and the resulting travel restrictions, Temasek said it was an active year for the firm. In the 2021 financial year, it invested S$49 billion (US$36 billion) and divested S$39 billion (US$29 billion) – both record numbers for the company.

A bulk of Temasek’s investments continue to be in China and Singapore, which make up 27% and 24% of the firm’s portfolio, respectively. However, the largest share of new investments Temasek made in the last year went to the Americas.

Temasek performance review / Source: Temasek

Financial services and telecommunications, media, and technology remained the top investment sectors for Temasek. It counted US-based online entertainment platform Roblox, UK cybersecurity firm Snyk, Singapore fintech startup Nium, and publicly listed Sea Group in its portfolio.

Its two portfolio firms in Indonesia, ecommerce giant Tokopedia and super app Gojek, recently announced a merger to form a single entity called GoTo Group.

Temasek aims to cut its portfolio’s net carbon emissions to half of 2010 levels by 2030, eyeing net-zero carbon emissions by 2050. The firm maintained that it was carbon neutral last year.

Currency converted from Singapore dollar to US dollar: US$1 = SG$1.34