Daily Briefing: Temasek portfolio value hits all-time high at $313b; Mixed-development Hoa Nam Building put up for en bloc sale at $160m

And digital banking software provider Moneythor joins Mastercard’s Start Path programme.

From Bloomberg:

Temasek Holdings held onto gains in its portfolio amidst global trade uncertainties after selling $28b (US$20.6b) of holdings as US equity markets hit record highs and its unlisted assets outperformed.

The Singapore state investor’s net portfolio value rose 1.6% to $313b (US$231b) in the 12 months ended 31 March. In US dollar terms, the portfolio value fell by 1.7%. One-year total shareholder return for the period was 1.49%, whilst three-year TSR came in at 8.88% in Singapore dollar terms.

Investors globally are facing a tough environment as the trade war between China and the US clouds the market outlook and potentially disruptive events like Brexit could dent returns. Singapore’s sovereign wealth fund GIC last week said overhyped valuations in developed markets were also a concern. London’s Sovereign Wealth Center and CIMB Private Banking economist Song Seng Wun had expected Temasek to report a decline in its net portfolio value for the period.

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From PropertyGuru:

Freehold mixed-development Hoa Nam Building at 27 Foch Road has been put up for en bloc sale, carrying an asking price of $160m.This works out to $1,866 psf based on the property’s gross floor area (GFA) of 85,744 sqft, said marketing agent Huttons Asia.

The figure is 4.0133 times the 21,365 sqft site area – exceeding the site’s plot ratio of 3.0 under the 2014 URA Master Plan.

The 83-unit Hoa Nam Building currently features 36 residential apartments, 33 retail units and 14 office units.

The site, which is zoned for commercial and residential use, could be redeveloped into a new commercial and residential project with the GFA similar to the existing development, revealed Huttons Asia’s Stephen Tan, who is marketing the en bloc sale.

The potential buyer could also keep the existing building and give it modifications and alterations works.

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From e27:

Singapore-based digital banking software provider Moneythor today announced that it has been selected to join the Mastercard Start Path programme, which is a part of the Mastercard Labs, the company’s R&D arm that aims to innovate in payments solutions.

The company was one of the 10 global later stage fintech startups that have been chosen to join the programme and is the only Singapore-based startup in the list.

Apart from Moneythor, the other Asia-based startup in the list if Bangalore-based Nuclei, which builds an omnichannel digital banking platform.

Founded in 2013, Moneythor develops software that aims to provide more intelligent and contextual digital banking for customers and enhanced marketing and analytics for financial institutions. Their products are delivered as APIs that enable banks and fintech firms to improve the functionality and user experience of their digital banking services.

Read more here.