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Temasek Portfolio Lost $39.91 Billion

Wall Street Journal Original article ›

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Singapore's state owned investment company Temasek Holdings lost $39.9 billion dollars in the 8 months from March 2008 to November 2008, or half its portfolio gains of the previous 5 years 2003-2008, according to Singapore's finance minister. Temasek lost $4.6 billion in its investment in Merrill Lynch alone. This may be understated as equities have recovered some of the losses between November 2008 and March 2009, a deterioration in the market could mean higher losses for Temasek.


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