Singapore’s Temasek eyes Europe

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Chia Song Hwee, head of strategy for Temasek Holdings

Singapore’s sovereign wealth fund Temasek Holding is looking at assets in Europe as it considers dropping share values of EU companies as a result of the eurozone debt crisis an opportunitiy, according to a media briefing held by the fund in Singapore earlier this month.

Chia Song Hwee, Temasek’s head of strategy, said that Temasek’s portfolio grew around 2.6 per cent in the year ended March 2012 to $156.37 billion. But net profit fell because of tougher business for firms such as Singapore Airlines and Neptune Orient Lines, in which Temasek holds stakes.

He added that there was significant contagion risk from Europe as the euro zone debt crisis heads towards its fourth year, but the crisis would also create opportunities to invest in companies that have exposure to Asia.

In the last fiscal year, Temasek’s exposure to Europe and North America already increased to 11 per cent from 8 per cent.

“There are many good companies in Europe with significant parts of their business in Asia,” Chia said.

“Those companies we would be interested [in] and we would keep track of them,” he added.

However, Chia did not mention any specific European companies or industries Temasek was casting its eye over.

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Reading Time: 1 minute

Chia Song Hwee, head of strategy for Temasek Holdings

Singapore’s sovereign wealth fund Temasek Holding is looking at assets in Europe as it considers dropping share values of EU companies as a result of the eurozone debt crisis an opportunitiy, according to a media briefing held by the fund in Singapore earlier this month.

Reading Time: 1 minute

Chia Song Hwee, head of strategy for Temasek Holdings

Singapore’s sovereign wealth fund Temasek Holding is looking at assets in Europe as it considers dropping share values of EU companies as a result of the eurozone debt crisis an opportunitiy, according to a media briefing held by the fund in Singapore earlier this month.

Chia Song Hwee, Temasek’s head of strategy, said that Temasek’s portfolio grew around 2.6 per cent in the year ended March 2012 to $156.37 billion. But net profit fell because of tougher business for firms such as Singapore Airlines and Neptune Orient Lines, in which Temasek holds stakes.

He added that there was significant contagion risk from Europe as the euro zone debt crisis heads towards its fourth year, but the crisis would also create opportunities to invest in companies that have exposure to Asia.

In the last fiscal year, Temasek’s exposure to Europe and North America already increased to 11 per cent from 8 per cent.

“There are many good companies in Europe with significant parts of their business in Asia,” Chia said.

“Those companies we would be interested [in] and we would keep track of them,” he added.

However, Chia did not mention any specific European companies or industries Temasek was casting its eye over.

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