We usually talk about the closing numbers on the SGX at this hour, but today is a special day because we’re going to take you through the latest performance of Singapore’s state investor Temasek, out just a couple of hours ago. 

Temasek is no stranger to Singaporeans. Founded in 1974, the global investment company has a network of 13 offices across nine countries. 

The company has a long term investment horizon, where activities are guided by its views on long term structural trends. It also invests off its own balance sheet, which means that the firm is not constrained by the so-called ‘fund life’. 

In its latest Temasek Review 2024 out today, the company said its performance over the long term remained resilient, with its net portfolio value having steadily grown over the past two decades across market cycles. 

Its net portfolio value or NPV stood at S$389 billion for the financial year ended 31 March 2024, and marking its unlisted portfolio to market would provide a value uplift of S$31 billion and bring its Mark to Market NPV to S$420 billion.

Temasek said the increase in portfolio value was largely due to investments returns from the US and India, while Chinese capital markets weighed on its performance. 

Meanwhile, the state investor also noted that its 20-year and 10-year Total Shareholder Return (TSR) remained stable. But how does Temasek assess its overall performance, and where is it investing next?

On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Connie Chan, Head of Financial Services, Temasek.