Ho Ching, the CEO of Temasek and wife of Singapore's prime minister, revealed the scale of the impact the credit crisis had had on the sovereign wealth fund in a speech in the city state on Tuesday.
"In our Temasek Review last year, we reported an annual Value-at-Risk of almost S$40 billion ($28 billion) last March. This meant a 16% probability for our portfolio value to drop more than S$40 billion by March this year," she said. "Indeed, it had turned out to be so, and more."
Temasek was "certai
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