Singapore state-owned global investment company, Temasek has increased its stake in US-based e-commerce giant, Amazon.com and China-based agriculture-focused technology platform, Pinduoduo.
According to a securities filing released on 16 May, Temasek boosted its stake by more than 15%.
It was reported that the investment company first disclosed its purchase of Amazon shares in 2017 and Pinduoduo shares in 2020.
Temasek, one of the largest investors in the world, is known for its major investments in Singapore Airlines and DBS Group.
The report mentioned that Temasek's recent added portfolios include Grab, Robinhood Markets, Nvidia, S&P Global, and 1Life Healthcare during the quarter.
However, the filing showed that the company has sold all of its shares in chip manufacturer, Intel as well as Draftkings just months after purchasing a stake in the sports betting company.
The investment firm also cut its stake in home rental company, Airbnb and US-based telecommunications firm Lumen Technologies.
