Singapore's Temasek hit by first loss in seven years

Singapore state investment giant Temasek Holdings said Thursday its global portfolio suffered its first annual loss since the financial crisis seven years ago, as global stock markets were hit by a series of China-linked routs. Temasek announced that the value of its global assets was Sg$242 billion ($180 billion) by March, down nine percent from last year's record Sg$266 billion. The investment company said its net profit over the past year plunged 43 percent to Sg$8.0 billion.