Temasek's portfolio growth slows; holdings hit record $179 bln
SINGAPORE, July 8
SINGAPORE, July 8 (Reuters) - Singapore state investor Temasek Holdings Pte Ltd said its portfolio grew by 3.72 percent in the last financial year, slower than the previous year, due to a drop in the value of its bank holdings which include Standard Chartered PLC.
Temasek reported on Tuesday its portfolio size had increased to a record S$223 billion ($179 billion) in its last financial year that ended in March. Last financial year, Temasek's portfolio grew 8.6 percent.
It also said the U.S. central bank's decision to slowly cut its monetary stimulus, and moves by China to rein its debt-fueled growth, were positive for global economic growth in the longer-term. ($1 = 1.2458 Singapore Dollars) (Reporting by Saeed Azhar and Anshuman Daga; Editing by Miral Fahmy)