Temasek sees S$7 billion asset fall as Covid bites

Singaporean state investment company Temasek revealed a 2.28% loss on shareholder returns and a S$7 billion drop in assets for the year to the end of March, its first since the 2015-2016 financial year, as the asset owner suffered from the impact of value drops on assets in its portfolio amid the nadir of the Covid-19 pandemic’s impact on markets.