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Temasek’s preliminary total shareholder return falls 2.3% amid Covid-19

Jeffrey Tan
Jeffrey Tan • 1 min read
Temasek’s preliminary total shareholder return falls 2.3% amid Covid-19
Given the impact from the novel coronavirus (Covid-19) pandemic, Temasek Holdings has announced a weaker set of preliminary results as at March 31, 2020.
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SINGAPORE (July 21): Given the impact from the novel coronavirus (Covid-19) pandemic, Temasek Holdings has announced a weaker set of preliminary results as at March 31, 2020.

It recorded total shareholder return (TSR) of -2.3%, compared to 1.5% last year.

Its preliminary net portfolio value (NPV) fell 2.2% y-o-y to $306 billion from $313 billion a year ago.

Yet Temasek says it has ended the year in a net cash position with a strong balance sheet.

According to Temasek, the preliminary portfolio performance is based on unaudited consolidated financial statements during the year, due to delays in receipt of the audited results of companies and associates in its portfolio.

This was the result of various measures to curb the pandemic across the globe, including lockdowns, Singapore’s circuit breaker measures and other business and community restrictions, it explains.

Temasek says the audit of the group consolidated financials and portfolio data is expected to be finalised in September.

It notes that the final portfolio performance is not expected to be “materially different” from the preliminary portfolio performance.

See also: Temasek Holdings to delay annual reporting to September, and Temasek portfolio may be worth 'north of $300 bil', says CEO Ho

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