The Jakarta Post | Tue, 02/10/2009 5:11 PM | Business
Singapore state investment company Temasek says it lost about US$39 billion, or 31 percent of its holdings, in eight months last year as big bets in the financial sector went sour.
The revelation comes after Temasek announced last week that Chief Executive Ho Ching would step down and be replaced by former BHP Billiton CEO Charles Goodyear.
Senior Minister of State for Finance and Transport Lim Hwee Hwa says Tuesday in Parliament that Temasek Holdings' portfolio of investments fell to 127 billion Singapore dollars ($85 billion) as of November 30 from SG$185 billion on March 31.
A Temasek spokesman confirms the figures.