{"id":246,"date":"2008-08-26T13:53:10","date_gmt":"2008-08-26T13:53:10","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/?p=246"},"modified":"2008-08-26T13:53:10","modified_gmt":"2008-08-26T13:53:10","slug":"profits-up-at-singapores-temasek","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2008\/08\/26\/profits-up-at-singapores-temasek\/","title":{"rendered":"Profits up at Singapore&#8217;s Temasek"},"content":{"rendered":"<p class=\"first\" style=\"text-align: left;\"><strong><a href=\"http:\/\/www.the-finance-zone.co.uk\/wp-content\/uploads\/2008\/08\/temasak.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-247 alignright\" style=\"float: right;\" title=\"temasak\" src=\"http:\/\/www.the-finance-zone.co.uk\/wp-content\/uploads\/2008\/08\/temasak.jpg\" alt=\"\" width=\"226\" height=\"170\" \/><\/a>Singapore sovereign wealth fund Temasek has seen its annual profits double after asset sales offset the impact of the turmoil in the credit markets.<\/strong><\/p>\n<p>Temasek, which is owned by the Singapore government, made a net profit of 18.2bn Singapore dollars ($12.8bn; \u00a36.9bn) in the year to 31 March.<\/p>\n<p>This is up from a profit of S$7.1bn a year ago, but was helped by the S$17bn sale of energy and Chinese investments.<\/p>\n<p>Temasek has billion dollar investments in banks Merrill Lynch and Barclays. <!-- E SF --><\/p>\n<p>Despite the high-profile problems in the global banking sector over the past year, Temasek said it remained committed to its investments in the industry.<\/p>\n<p>&#8220;The financial service industry is one we believe in. It&#8217;s a proxy to the economic growth.&#8221; said Temasek&#8217;s senior managing director, Manish Kejriwal.<\/p>\n<p>&#8220;We recently concentrated on US and UK primarily because we see value.&#8221; <!-- E BO --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore sovereign wealth fund Temasek has seen its annual profits double after asset sales offset the impact of the turmoil<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[50],"tags":[],"class_list":["post-246","post","type-post","status-publish","format-standard","hentry","category-wealth-funds"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=246"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/246\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}