Net Income Temasek fell

Net income Temasek Holdings Pte, Singapore's state investment firm, fell 26 percent in the year to March 31, to S$4.6 billion from S$6.2billion a year earlier because of lower profit contributions from some portfolio companies that were hurt by the financial crisis.

Temasek's assets climbed 43 percent to S$186 billion ($135 billion) in the year to March 31, surpassing the previous peak of S$185 billion reached two years earlier, the firm said in its
annual report yesterday.

That offset last year's S$55 billion plunge, when it posted losses on bank stakes during the financial crisis. Asian investments outside Singapore and Japan expanded to almost half of Temasek's portfolio and the value of its energy and resources investments rose 72 percent as it tapped the appetite for raw materials in China and India.

Temasek, which aborted the appointment of Charles Chip"s Goodyear last year to replace Chief Executive Officer Ho Ching, 57, has named former Singapore Exchange Ltd. CEO Hsieh Fu Hua an executive director and president to handle succession planning.
Last July, the company reversed its appointment of 52-year- old Goodyear, the former head of BHP Billiton Ltd. BHP Billiton is the world's largest mining company.

Ho Ching, the wife of Singapore Prime Minister Lee Hsien Loong, remains in charge.

Temasek's made S$10 billion in investments, including spending more than S$3 billion in the financial year buying additional shares of companies such as Jakarta-based PT Bank Danamon Indonesia Tbk and Singapore's Neptune Orient Lines Ltd.

Temasek's participation in rights offerings by companies in its portfolio bolstered its assets as the shares advanced. Temasek also injected S$1.5 billion into Singapore Power in October to support its growth plan, and added investments in South Korea and India.

Temasek sold its stakes in Charlotte, North Carolina-basedBank of America Corp. and London-based Barclays Plc at losses in the previous year.
The value of Temasek's investments in resources firms rose to S$11.2 billion, or 6 percent of its total portfolio, from S$6.5 billion, or 5 percent. It invested in Calgary-based oil and natural-gas explorer Niko Resources Ltd. and Singapore-based agricultural commodities supplier Olam International Ltd.
Temasek also added assets in Latin America, investing in Amyris Biotechnologies Inc., the U.S. parent of a Brazilian biofuels producer, and Santiago-based LAN Airlines SA, Latin
America's biggest carrier by market value.