Temasek Delays Annual Report Until September, Citing Pandemic
(Bloomberg) -- Singapore's state-owned investor Temasek Holdings Pte. has made the rare decision to delay its annual report until September, blaming Covid-19 for hampering the global flow of financial information.
Temasek Holdings Chief Executive Officer Ho Ching announced the delay in a Facebook post Thursday. The company, which managed S$313 billion ($224.6 billion) as of March 2019, was set to release the report this month.
The delay comes at a difficult time for Temasek, which saw its public equity holdings take a beating in the first quarter. It's also made several major commitments to support portfolio companies such as Singapore Airlines Ltd.
In her post, Ho blamed Covid-19 for forcing companies around the world to delay their financial results, noting that many of Temasek's portfolio companies have multi-national operations.
“Although we didn't anticipate a Covid pandemic, the economic indicators had become worrisome since last year,” she wrote, adding the company had made plans to build up its balance sheet. “Clearly Covid is now a bigger problem than we had expected.”
Ho is the wife of Singapore Prime Minister Lee Hsien Loong, who is seeking a new term for his ruling party in national elections set for July 10.
©2020 Bloomberg L.P.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
