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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[caption id="attachment_4004" align="alignleft" width="187"] Chia Song Hwee, head of strategy for Temasek Holdings[/caption] 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...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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