By Saeed Azhar and Kevin Lim 51 minutes ago SINGAPORE (Reuters) - Singapore wealth fund Temasek warned of further contagion from the global credit crisis after it doubled its full-year profit by selling billions of dollars of assets.The fund, which poured more than $5 billion into Merrill Lynch in December, said it saw value in the banking industry, despite the U.S. subprime disaster that has forced banks to write off more than $500 billion.
"The fallout of the credit crisis will continue to dampen the global economy over the next 24 months, with sharply escalated oil and food prices beginning to test inflation expectations," Chairman S. Dhanabalan said in the firm's annual report.
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