A Temasek logo is seen during the Temasek annual review in Singapore July 7, 2016. REUTERS/Edgar Su

SINGAPORE, July 12 (Reuters) – Singapore-based Temasek Holdings is planning to slow investment as the global economy deteriorates, after posting a nearly 6% rise in the value of its portfolio to a record high of 403 billion Singapore dollars ($286.5 billion) by March 2022.

The cautious stance comes as global stock markets have lost more than $20 trillion since hitting record highs in January, as major central banks struggle to stem soaring inflation without derailing the budding growth.

The expected slowdown in investment comes amid weakening global growth, rising inflation and economic disruption caused by Russia’s war in Ukraine, Temasek leaders told a conference on Tuesday. hurry.

Ranked among the world’s top 10 investors, Temasek is rooted in Asia, with 63% exposure to the region, measured by the underlying assets of its portfolio companies, most of which are in Singapore and China.

“The economic outlook is not looking very good. We are still seeing a decline in the markets,” said Temasek’s chief investment officer, Rohit Sipahimalani.

He said the global economic slowdown is expected to extend this year and potentially into 2023. “We are more cautious than we would have been a year ago.”

Sipahimalani, however, said most regulatory headwinds in China have mostly passed and the country remains an important market for Temasek.

In recent months, Beijing has softened its stance in the face of a wide-ranging crackdown that began in late 2020 with authorities abruptly ending fintech giant Ant Group’s mega IPO and then spreading to several sectors, including technology, private education and real estate.

Along with other global investors, Temasek had invested in Ant.

Temasek’s major public holdings include DBS Group (DBSM.SI), Singtel (STEL.SI), China Construction Bank (601939.SS) and Standard Chartered (STAN.L).

His unlisted holdings reached a record 52% of his portfolio as of March 31. Unlisted assets include property developer Mapletree Investments, port operator PSA International and Singapore Power Group.

Temasek executives said the portfolio value of its unlisted holdings had roughly quadrupled to S$210 billion over the past decade. ($1 = 1.4069 Singapore dollars)

Reporting by Anshuman Daga and Joe Brock; Editing by Jacqueline Wong

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