Temasek says exposure to Russia 'insignificant', will comply with government sanctions

SINGAPORE investment firm Temasek said its underlying exposure to Russia and Ukraine is "insignificant", but added that it will comply with legal and regulatory obligations - including sanctions - under the jurisdictions it invests and operates in.

"We have a nominal legacy exposure to a couple of third-party funds in Russia, and have no active investment activity in Russia or Ukraine. Some of our portfolio companies have holdings in the region, though we understand these are not material in value," a Temasek spokesperson said in response to queries by The Business Times.

As at Mar 31, 2021, only 12 per cent of Temasek's net portfolio value of S$381 billion is based in Europe, the Middle East and Africa (EMEA). Nearly two-thirds of the investment company's underlying assets are based in Asia, with the majority in Singapore and China.