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Temasek Holdings

Temasek Holdings (Private) Limited
Company typeState-owned private limited company
IndustryInvestment management
Founded25 June 1974 (1974-06-25)[1]
HeadquartersOrchard Road, Singapore
Key people
Total assetsIncrease S$382 billion (2023)
OwnerGovernment of Singapore
Number of employees
Increase ~950 (2023)[3]
Subsidiaries
Websitetemasek.com.sg

Temasek Holdings (Private) Limited, or simply Temasek, is a global investment company owned by the Government of Singapore. Incorporated on 25 June 1974, Temasek has a net portfolio of US$287 billion (S$382 billion) as of 2023, with S$27 billion divested and S$31 billion invested during the year.[1][5][6]

Temasek's one-year total shareholder return (TSR) was 5.07%, with longer term 10-year and 20-year TSRs at 6% and 9% respectively, compounded annually. Its TSR since inception was 14%, compounded over 49 years.[7]

Headquartered in Singapore, it has 13 offices in 9 countries around the world, including in Beijing, Brussels, Hanoi, London, Mexico City, Mumbai, New York City, Paris, San Francisco, Shanghai, Shenzhen & Washington D.C..[8] It is an active shareholder and investor, with four key structural trends guiding its long term portfolio construction—Digitisation, Sustainable Living, Future of Consumption, and Longer Lifespans.[9] Temasek's portfolio covers a broad spectrum of sectors. Its key focus investment areas include Consumer, Media & Technology, Life Sciences & Agri-Food, and Non-bank Financial Services.[10]

Temasek has held overall corporate global credit ratings of “Aaa/AAA” by rating agencies Moody's[11] and Standard & Poor's[12] respectively since its inaugural credit ratings in 2004. It has also attained perfect quarterly scores[13] on the Linaburg-Maduell Transparency Index, a measure of the openness of government-owned investment funds. Temasek is primarily anchored in Asia, but with a global portfolio, with a 64% underlying exposure to developed economies.[14]

While Temasek is largely considered as being a sovereign wealth fund (SWF), there are major differences as it invests mostly in equities, is the outright owner of many assets and companies, and pays taxes like other commercial investment firms.[15]

In addition to Temasek, the Government of Singapore also owns GIC Private Limited, a traditional SWF which manages about US$744 billion (S$1.006 trillion) of assets as of 2022[16][17] and the compulsory pension programme Central Provident Fund (CPF) with assets of US$397 billion (S$540 billion),[18] giving a total AUM of US$1.64 trillion.

  1. ^ a b "Temasek Holdings is incorporated". NLB. Retrieved 27 July 2019.
  2. ^ a b "Our Leadership – About Temasek". Temasek Holdings. Retrieved 9 September 2020.
  3. ^ "Our OneTemasek Team – Institution". Temasek Review 2021.
  4. ^ "TEMASEK HOLDINGS (PRIVATE) LIMITED (197401143C) – Singapore Business Directory". SGPBusiness.com. Retrieved 30 September 2022.
  5. ^ Temasek, Holdings (12 July 2022). "Temasek Review 2022". Temasek Review 2022: So Every Generation Prospers.
  6. ^ Bala, Sumathi. "Singapore's state-owned investor Temasek reports record portfolio value". CNBC. Retrieved 9 December 2022.
  7. ^ Subhani, Ovais (12 July 2022). "Temasek portfolio surges to record high, driven by Singapore investments". The Straits Times.
  8. ^ "Temasek Review 2021: Bounce Forward". Temasek Corporate Website. 13 July 2021.
  9. ^ Chan, Genevieve (5 December 2021). "Four keys that could unlock a better, more sustainable world". The Straits Times.
  10. ^ "Temasek Review 2021" (PDF). Temasek Review. 13 July 2021.
  11. ^ "Moody's Rating Updates" (PDF). Moody's Investors Service. 28 July 2022.
  12. ^ "S&P Global Ratings". 9 August 2021.
  13. ^ "Temasek hits perfect score on transparency index". AsiaOne. 5 June 2009.
  14. ^ "Our Portfolio". Temasek Corporate Website.
  15. ^ "Temasek is different from other sovereign wealth funds and pays tax - Chairman". Venture Capital Post. 5 December 2013.
  16. ^ "Singapore's $744 Billion Fund Eyes Deals in Low-Return World". Bloomberg.com. 7 February 2022. Retrieved 9 December 2022.
  17. ^ Ramli, David; Chanjaroen, Chanyaporn (12 January 2022). "Singapore's GIC Set to Manage Extra $137 Billion in Reserves". www.bloomberg.com. Retrieved 22 January 2022.
  18. ^ "CPFB | CPF statistics". www.cpf.gov.sg. Retrieved 9 December 2022.
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