Asset growth slows at Singapore’s Temasek due to Asian weakness

first_imgChairman Lim Boon Heng said: “This year has been one of our most active years for new investments – the most active since the global financial crisis – driven by softer Asian markets of interest, as well as the continued recovery of the global economy.”New investments last year totaled SGD24bn, half of which was in Asia where lower asset prices offered attractive investment opportunities, and two-fifths in Europe and North America.Temasek said divestments amounted to SGD10bn, giving a net investment amount of SGD14bn – double the average annual net investment level of about SGD7bn, over the past 10 years.The top three sectors for investments during the year were financial services, life sciences and energy.Towards the end of the year, the company stepped up its investment activities in the consumer sector.Investments in the financial services sector included an increase in its holdings in AIA to over 3.5%, as well as a growth in its stake in Industrial and Commercial Bank of China (ICBC) to 8.9% of its H-shares (equivalent to 2.2% of total ICBC outstanding shares). The company also bought a 1.1% interest in Lloyds Banking Group, the largest domestic UK bank by assets.In the life sciences sector, Temasek invested almost $1bn (€735m) in Gilead Sciences, a major developer of treatments for cancer, HIV and other infectious diseases; and $500m in Thermo Fisher Scientific, a provider of laboratory equipment and consumables.In energy, Temasek invested £235m (€296m) in the BG Group and about SGD2bn in Pavilion Energy, which focuses on LNG sourcing, supply and solutions.Consumer sector investments concluded since the financial year-end include a 24.95% purchase of A S Watson from Hutchison Whampoa for $5.7bn in April 2014.Among its divestments were its stake in Bharti Telecom and Seoul Semiconductor, Tiger Airways, Cheniere Energy and Youku-Tudou. Divestments were reduced to SGD10bn from SGD13bn a year earlier. Temasek Holdings’ investment assets grew at a slower pace in the year to March, weighed down by weakness in Asia, as it opened offices in London and New York to help diversify its portfolio.The assets of the Singapore state investment company increased by 3.7% to a record SGD223bn (€132bn).However, the growth is less than half of last year’s gain of 8.6%.The top three countries represented in Temasek’s portfolio are Singapore, China and Australia at 31%, 25% and 10%, respectively, as at 31 March, according to its annual review. Exposure to North America and Europe grew to over 14%, up from 12% the previous year.last_img read more

Shipa Freight: 5 Tech Trends Transforming Freight Forwarding

first_imgBy Toby Edwards, Chief Executive Officer at Shipa FreightThe logistics industry has traditionally been slow to capitalise on technology advances. This has come at a cost: issues at ports, including an influx of mega-vessels and trucking congestion, have impacted efficiency and slowed shipping times.It is imperative that freight forwarders make use of new technologies to streamline these processes, to maximize efficiency and security in the industry and to level the playing field for SME businesses across the globe who want to participate in international trade on a small, cost-effective scale. And the industry is beginning to sit up and take notice: here are the five top tech trends which are reshaping freight forwarding.Trend #1: Focus on cybersecurityIt was more than a year and a half ago that shipping giant A.P. Moller-Maersk became the victim of a cyber attack that crippled the company’s infrastructure, and caused severe disruption at ports around the globe. Since the cyber-calamity took place, freight forwarders have been shifting with the times, transitioning from traditional processes to faster, more responsive, digital solutions. They have also felt further pressure to strengthen data privacy and security due to the 2018 implementation of the European Union’s General Data Protection Regulation (GDPR).Many logistics providers that are just now starting down the path to digitization will at least be able to integrate robust cyber-security into brand new systems as they implement them, which tends to be less onerous than trying to improve protection within legacy applications and platforms.Trend #2: Making use of real-time dataThe availability of real-time information can improve scheduling and coordination, and ensure more efficient use of resources. Last year, the Port of Rotterdam and the Port of Hamburg began using technology to share information about planned and actual vessel departure and arrival times between the two ports.Ports that successfully use data-sharing tools can reduce port congestion by improving the flow of cargo, increasing efficiency by planning and deploying labour and equipment in a more targeted way.Access to real-time data can also be beneficial to customers. If forwarders aggregate shipment data from the many sources and systems involved in ocean transportation and present it clearly to customers, the customers can more easily keep track of their shipment and in turn, they can keep their customers updated.Trend #3: “Internet of Things” solutionsAfter aggregating shipment data and presenting it to customers via a single user interface, the next step is to enrich shipping data even further with the aid of the Internet of Things. For instance, shipment tracking is still mostly dependent on exchanges of electronic messages between those involved, but as logistics partners begin to add in data from solutions like the maritime Automatic Identification System (AIS) and electronic sensors (installed in ocean-shipping containers or even attached to product packaging), forwarders will be capable of more accurate tracking.If customers receive access to this data, they will be able to monitor the condition of their goods as well as gain real-time insight into their shipment’s progress. This is bound to be particularly valuable for perishables and other environment-sensitive items.Trend #4: Growing Customer-CentricityThe freight-forwarding sector, whilst catering to companies, businesses, and individuals with shipping needs, has traditionally been very process-focused. But as globalisation has taken hold and many smaller businesses find themselves in need of shipping services, freight forwarders are being forced to cast off the conventional approach and place customers’ perception of value at the forefront of modernization efforts.Forwarders are using digital solutions to enhance customers’ experience, for example by offering instant shipping quotations, developing more user-friendly websites, and deploying strategic content marketing and social media marketing strategies. As this trend progresses, we are likely to see more forwarders using strategies from the business-to-consumer playbook, such as shipping discounts and other incentives designed to secure customer loyalty.Trend #5: Blockchain adoptionBlockchain is a much-hyped and often misunderstood technology, but logistics is one of the few areas in which it is actually being adopted and is already making an impact.Maersk’s TradeLens technology, for example, is a blockchain solution currently in use to streamline and secure the exchange of information between more than 90 companies and organizations involved in global shipping activity. Participants in the TradeLens program, which relies on the execution of blockchain-driven smart contracts, include port and terminal operators, carriers, customs brokers, some freight forwarders and even customs officials.Another example is the introduction of a TEU token system by a startup called 300Cubits, which promises to solve the problem of cargo no-shows at ports and the overbookinglast_img read more

Senior Burnout

first_imgWhen you start to read this, you will think that I am just repeating an earlier blog.  However, I thought about this and I think I have a little more insight into what is going on.  I still do not agree with a senior who does not compete in a spring sport that they have been in their previous three years in school.  I think they owe it to their teammates to compete in their fourth year.  Their leadership and experience is needed for a championship team.  Where I sympathize with the kid is the fact that after getting up at 5 a.m. for four seasons of sports such as football and basketball, they are simply tired.   I know the coaches of these major sports I just mentioned are tired as well of the year-round rat race, but they are forced to do it because the competition is doing it.  If they cut back, you can guess what the results will be for their programs.  The IHSAA and other state organizations must do something to stop the madness.   Any senior who has gone through one of these programs (football,  basketball, and recently added to this are soccer and volleyball) comes to the spring and realizes he/she only has a few months of high school remaining as just a student.  This is why they don’t want to participate.  Most spring sports are not 12-month sports, and therefore, can just be enjoyed.  So, seniors, just go out and have fun–you will help your team while having a ball!last_img read more

Men’s basketball: Happ’s 32 points salvage Badgers at Madison Square Garden

first_imgThe University of Wisconsin men’s basketball team returned to Madison after an overtime thriller Saturday at Madison Square Garden in New York, where the Badgers overcame improbable Rutgers University in a defensive showdown.Head coach Greg Gard acknowledged the offensive woes, but was also proud of the way his team kept playing loose and confident throughout the entire game.Wisconsin scored fewer points than minutes expired through the first 36 minutes of play, and with 3:22 on the clock the Badgers faced a seemingly insurmountable nine-point deficit (41-32).Women’s hockey: Badgers set NCAA attendance record at Kohl Center amid three-game homesteadWisconsin routed Minnesota State University, Mankato to cap off a three-week homestead that featured an NCAA record-setting attendance for a women’s Read…The Badgers trailed for most of the second half until a bucket by sophomore forward Ethan Happ tied the game 45-45 with less than three seconds on the clock to force overtime.“We struggled to score and put the ball in the basket,” Gard said. “[The players] did a good job of staying loose.”The Badgers had one of their worst three-point shooting games of the season against the Scarlet Knights, but Gard offered up some of his best jokes as evidence of how he kept the players loose and upbeat during the rough offensive performance.“Why did the cookie go to the hospital?” Gard joked. “He was feeling crummy.”Jokes like this one and relentless effort from senior leader Zak Showalter helped the Badgers stay and do just enough to force an overtime period. Gard complimented Zak Showalter for his efforts throughout the game.“It was the energy and toughness plays,” Gard said. “[Showalter] contributes in a lot of ways.”With the rebound momentum from Saturday’s win at Madison Square Garden, the Badgers travel to Champaign to take on the University of Illinois. The Fighting Illini have proven to be much better at home than away this year, presenting a tough challenge for a Badger team trying to stay tied atop the Big Ten standings.“They are a much more potent team, for whatever reason, at home,” Gard said.Hayes: Biegel, Clement could use 2017 Reese’s Senior Bowl to climb NFL draft boardsWhile their careers on the field for Wisconsin may be over, Badger seniors Corey Clement and Vince Biegel have one Read…Gard was also asked about the release of the first four seeds from every region on Feb. 11 and seemed to reflect the attitude many have had since the early projections were announced.“We play two to three times a week, it could change tomorrow,” Gard said. “In terms of our approach, it does not change.”The newly crowned No. 10 Badgers will attempt to continue their ascent up the polls Tuesday night with an 8 p.m. tip at Illinois.last_img read more