Temasek delays annual report until September, citing pandemic

[The_King]

(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.

 

 

https://sg.news.yahoo.com/temasek-delays-annual-report-until-september-citing-pandemic-070517627.html

[Coffee_O]

this is what happens when ownself check ownself. nobody can question or says anything. 一手遮天

[meng.huat]

This is prime example of PAP's blank check...

 

please remind Chan Chun Sing...

[aaur4man]

Why post on FB about this kind of stuff?

 

how about the funds they raised dedicated for Covid19, where it came from

 

And their recent buy in, wonder if it will huat short term