Singaporean state investor, Temasek, is looking to increase investments in the defense sector as war in Ukraine prompts European governments to boost their military spending, according to a Reuters report, citing a senior Temasek Executive on Friday.

Defense investment is part of Temasek's push into Europe, the Middle East and Africa, which account for around 12% of its portfolio, the report said.

President of global investments, Nagi Hamiyeh, said the fund has historically avoided investment in the sector but is now making an exception due to considerations around deterrence and sovereignty, the report added.

However, the state fund will mainly focus on dual-use technologies that serve both civilian and military customers, the report noted.

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