At a time when China and the US entangled in a heating trade war, Temasek, the sovereign wealth fund of Singapore, now has a bigger explosure to China than it is in Singapore its home market.
Now 29% of Temasek’s assets come from China thanks in large part to its longterm bets in the country and gains from Chinese tech conglomerates such as Alibaba (NYSE: BABA; HKEX: 9988). Temasek also holds stake in China’s ICBC, the world’s largest bank by assets managed. In comparison, its exposure to Singapore now stands at 24% of assets, the lowest level since its inception almost five decades ago, according to its annual report.
This year, Temasek transferred some of its Alibaba shares from the US to Hong Kong, while the investment body bought in e-commerce operator Pinduoduo (NASDAQ: PDD) for the first time.
More on Temasek please read: Technology has redefined the way we produce food: Q&A with John Vaske, head of agribusiness at Temasek
This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.
