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Temasek Holdings is Positive for China's Long-Term Development

February 10, 2021 5:04 am

Beijing (PingWest)—Temasek Holdings continue to be "positive" on the long-term trajectory of Chinese markets, Dilhan Pillay Sandrasegara, the newly appointed CEO of the Singapore's state-owned investment firm said.

Pillay was named to replace Ho Ching, who will step down in October after 17 years as head of the $230 billion firm.

Speaking at a briefing held by the state investor on Tuesday, Feb. 9, Dilhan was responding to a media query on Temasek's future strategy, in light of China being its largest portfolio, and recent events such as the Chinese government's crackdown on tech giant Alibaba.

“China has always had that long-term potential for us, going back to even before I joined Temasek to the decade where I have been very much involved in our strategy,” Pillay said, highlighting its biotech, consumer and enterprise sectors as emerging areas of interest.

Temasek is a leading investor in China with deals running the gamut from fast-growing startups and technology giants to banking institutions. China accounts for the bulk of Temasek's investments (29%) as of the end of March 31, 2020, followed by Singapore (24%). Temasek was also an early investor in Alibaba's fintech affiliate Ant, whose record initial public offering was scrapped by regulators on the eve of the November listing.