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Economy

Staff Reporter

, Singapore

Published:

2 years ago

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Cloud, IoT deals shield Temasek from big impacts of FTX write off

The Singapore-based firm said it would write off a $275 investment from FTX.

Temasek Holdings Limited, a Singapore investment firm, recently said it would write off $275m investments in the embattled crypto exchange, FTX, with its exposure to the company less than 0.1% of net portfolio value.

But analytics firm, GlobalData, said the diversity of Temasek's deal activity in 2022 includes other investments such as digital media, cloud, and IoT, which helps it mitigate the impact of business issues such as FTX's filing for bankruptcy.

GlobalData said Temasek had the most deal value around the said digital tools. It has been involved in almost 100 deals so far in 2022.

Rinaldo Pereira, the business fundamentals analyst at GlobalData, said, the company’s deal value for cloud and IoT in 2022 grew year on year.”

Its cloud investments are Chinese cloud-gaming company Well-Link Technologies and Indonesian cloud-based warehouse management systems provider, PT Tibeka Logistik.

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