Temasek posts worst returns in 7 years as it eyes AI, green transition

Singapore state investment company Temasek has posted its most disappointing one-year shareholder returns since 2016, recording a drop of 5.07% in Singapore dollar terms. The value of its portfolio also slipped, from S$403 billion (US$300 billion) to S$382 billion (US$284 billion), a decline of 5.2%. The company attributed the lacklustre results for its 2022-23 financial year to higher interest rates and lower equity valuations in both the public and private markets. Gary Smit…