Singapore's Temasek reports $6bn loss as portfolio value shrinks

State investor says it will stay cautious amid bleak global conditions

20230711 Temasek Holdings

Temasek logged a one-year total shareholder return of minus 5.07% in Singapore dollar terms for the year through March, compared with a positive 5.81% annual return a year ago. © Reuters

DYLAN LOH, Nikkei staff writer

SINGAPORE -- Singapore state-owned investor Temasek on Tuesday reported a $6 billion net loss for the year through March, as it warned global economic and geopolitical headwinds are weighing on investment activities.

The company, which answers to the city-state's finance minister as its sole shareholder, also said it logged a one-year total shareholder return of minus 5.07% in Singapore dollar terms, compared with a positive 5.81% annual return a year ago. It last saw a negative return, of minus 2%, in 2020.

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