Temasek invested S$49 billion in FY21, its highest ever

Temasek saw a record year with S$39 billion worth of divestments. (REUTERS) — Temasek saw a record year with S$39 billion worth of divestments. **(REUTERS)**

1 min read . Updated: 13 Jul 2021, 03:23 PM IST Swaraj Singh Dhanjal

The company reported a record net portfolio value of S$381 billion for FY21, up S$75 billion over the previous year

Mumbai: Global uncertainties caused by the covid-19 pandemic notwithstanding, Temasek invested S$49 billion in FY21, the highest it has ever invested in a fiscal, the Singapore’s state investor said in its annual report released on Tuesday. Temasek also saw a record S$39 billion worth of divestments in FY21.

Temasek on Tuesday reported a record net portfolio value (NPV) of S$381 billion for FY21, up S$75 billion over the previous year.

China at 27% and Singapore, at 24%, remain its two largest countries by exposure, followed by Americas (20%) and Europe, Middle East & Africa (12%). The Americas accounted for the largest share of new investments made during the year, followed by Singapore and China, it said.

“In India, we invested in Bandhan Bank, a microfinance provider promoting social inclusion. We also partnered Schneider Electric India Private Limited, a company focused on energy efficiency and digital transformation of energy management systems and industrial automation, to acquire India-based conglomerate Larsen & Toubro’s electrical and automation business," the investor said.

Technology, financial services, industrials and energy sectors continued to see significant investment activity. The financial services (24%) and telecommunications, media and technology (TMT) (21%) sectors remained the top two largest sectors of Temasek’s portfolio. However, their compositions have changed significantly over the last decade, partly driven by Digitisation, the investor said.

“For Financial Services, our portfolio has evolved from mainly banks to include fintech, insurance and payments. In the TMT domain, we now have a strong focus on the vibrant Technology space as Digitisation has become a mainstream enabler. This includes software, Internet, e-commerce, the sharing economy, cloud computing and digital content."

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