CNA news: Temasek’s investment portfolio down 31% to S$127b as of 30 Nov 2008
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This was down S$58 billion from S$185 billion eight months earlier in light of the global financial crisis.
Senior Minister of State for Finance and Transport, Lim Hwee Hua, said: “This is less than the corresponding declines in the MSCI Singapore Index of 44 per cent and the MSCI Asia ex-Japan of 45 per cent both in Singapore dollar terms over the same period.
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She said: “They do not have to sell in panic in a market downturn, and are in fact in an advantageous position to invest in good quality assets at prices that are attractive from a long-term perspective during a downturn. The government is confident that they will continue to deliver good long-term returns within the risk limits set.”
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