Temasek Holdings’ reported full-year profit surged 71% to a record S$12.8bil.Total assets rose 24% to S$129bil and Temasek posted total shareholders’ return of 24%, higher than its target of 18%.
Temasek overseas investment accounts for 56% of its assets. It also raised S$13bil from selling down stakes in companies.
That's a fantastic return on investment!
Could Khazanah Holding Bhd, Malaysia's "Temasek" perform in tandem with the origin?
As reported on June 2006, Khazanah’s net worth was RM40bil.It’s total shareholder return is 17.5% over 2 years (averaged is about 8.75% per year).
Its investment portfolio as at June 2006 was RM65bil. As at May 31, 2006, the net portfolio’s realised and unrealised gains, arising from the investments, were RM318mil.
Did Khazanah heads Temasek's way?S&P credit analyst Greg Pau wrote a report entitled, Khazanah Nasional Bhd – A Temasek in the Making.
Among others, Pau said Khazanah's investment value was only about 20% that of Temasek. Both have diversified portfolios, with holdings in more than 20 major companies and focused on similar sectors, mainly in infrastructure and industries critical to the smooth functioning and improved competitiveness of the respective economies.
According to Greg's analysis, Khazanah's portfolio was less geographically diversified, with 80% of its portfolio in Malaysia. On overseas investments, he said Temasek had focused on revenue-generating companies, preferably those with market leading positions, while leaving companies linked to it to invest in capacity expansion and greenfield projects. However, Khazanah often teamed up with connected companies in overseas investments.
Khazanah's website don't publish it's financial returns? Why?
Read more of Khazanah Nasional Bhd at Wikipedia
Temasek's report is published
Read more of Temasek at Wikipedia
Khazanah seems to be borrowing, borrowing and borrowing?
What is their gearing?
According to Greg, “Khazanah seems to be moving in the same direction of Temasek which emphasize on a performance culture, sound corporate governance and internal control, and in empowering the management of related companies.” However, the ultimate success of this approach would require Khazanah and its related companies to carefully balance commercial interests with their policy roles, and maintain discipline against excessive expansion and gearing, he said.
1 comment:
Can't really compare these two entities with different objectives.
Temasek is profit-based financial organisation with emphasis on returns whilst Kh(aput)zanah is created to make our NPLs vanishes into thin air and needs financial input(from-you-know-where) annually.
Khaputzanah is like our highly-paid sewage cleaner that we call in when sh*t hits the fan but they never seem to get the job done.
Pity though they were compare to the best. They don't stand a chance. =)
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