Temasek Holdings grew its net portfolio value by S$43 billion to a fresh record of S$266 billion for the year ended March 31, the Singapore investment company announced on Tuesday during its annual performance review.
One-year total shareholder return (TSR) was 19.2 per cent. One of the key measures of Temasek's performance, TSR for 10 years and 20 years were 9 per cent and 7 per cent respectively. Since its inception in 1974, Temasek's return to its shareholder - the Ministry of Finance - has been 16 per cent.
Singapore state investor Temasek Holdings said Chief Executive Ho Ching will return in her role after her three-month sabbatical ends later this month. Neil McGregor, a senior managing director at Temasek, said the board looks at succession policies each year, but didn't give any specific details on Ms Ho's long-term plans.
Online real estate portal SRX Property has launched a free application on its website targeting Singapore's 1.4 million homeowners and renters. The app service provides free personalized, monthly updates on changes in the computer-generated market value, rent, and rental yield of a subscriber's home, it said on Tuesday.
Singapore's advance estimates for gross domestic product (GDP) for the second quarter of 2015 will be released at 8am on July 14, the Ministry of Trade and Industry (MTI) said on Tuesday. The Monetary Authority of Singapore (MAS) in its quarterly survey in June showed that economists expect GDP to expand by 2.7 per cent on a year-on-year basis in the April-June quarter.
Malaysia's central bank intervened for a third successive trading day on Tuesday to support the ringgit currency, traders said, as corruption allegations swirled round Prime Minister Najib Razak, raising doubts over his grip on power. Thanks to Bank Negara's damage limitation, the ringgit has lost only 0.8 per cent since the political storm broke on Friday, but it has weakened past an old currency peg of 3.80 per dollar, fixed in September 1998 during the Asian financial crisis and scrapped in 2005.
Providing prolonged financial support to the family is leading Singapore retirees to strike at least one thing off their bucket list, a study has found, as budget constraints eat into their retirement goals. The HSBC Future of Retirement report, released on Tuesday, also found that the impact of 'giving while living' is creating a chasm between Singaporeans' desire to leave an inheritance for their next of kin and their ability to do so.