Temasek Holdings

Temasek Holdings (Private) Limited
TypeState-owned
IndustryInvestment management
Founded25 June 1974 (1974-06-25)[1]
HeadquartersOrchard Road, Singapore
Key people
AUMIncrease S$630 billion (2021)
Total assetsIncrease S$403 billion (2022)
OwnerGovernment of Singapore
Number of employees
Increase 900 (2022)[3]
Subsidiaries[4]
Websitetemasek.com.sg

Temasek Holdings (Private) Limited, or simply Temasek, is a Singaporean state holding company owned by the Government of Singapore. Incorporated on 25 June 1974, Temasek owns and manages a net portfolio of S$403 billion as of 2022, with S$37 billion divested and S$61 billion invested during the year.[1][5] Its one-year total shareholder return (TSR) was 5.8%, with longer term 10 and 20-year TSRs at 7% and 8% respectively, compounded annually. Its TSR since inception was 14%, compounded over 48 years.[6] It also has US$484.4 billion (S$630 billion) in assets under management (AUM) as of 2021.[7]

Headquartered in Singapore, it has 12 offices in 8 countries around the world, including in Beijing, Hanoi, Mumbai, Shanghai, Shenzhen; and London, Brussels, New York, San Francisco, Washington, D.C. and Mexico City outside Asia.[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 60% underlying exposure to developed economies.[14]

While Temasek is largely attributed 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$881 billion (S$1 trillion) of assets as of 2022.[16]

  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. ^ Subhani, Ovais (12 July 2022). "Temasek portfolio surges to record high, driven by Singapore investments". The Straits Times.{{cite web}}: CS1 maint: url-status (link)
  7. ^ "Temasek Holdings (Temasek) - Sovereign Wealth Fund, Singapore - SWFI". www.swfinstitute.org. Retrieved 29 December 2021.
  8. ^ "Temasek Review 2021: Bounce Forward". Temasek Corporate Website. 13 July 2021.{{cite web}}: CS1 maint: url-status (link)
  9. ^ Chan, Genevieve (5 December 2021). "Four keys that could unlock a better, more sustainable world". The Straits Times.{{cite web}}: CS1 maint: url-status (link)
  10. ^ "Temasek Review 2021" (PDF). Temasek Review. 13 July 2021.{{cite web}}: CS1 maint: url-status (link)
  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.{{cite web}}: CS1 maint: url-status (link)
  15. ^ "Temasek is different from other sovereign wealth funds and pays tax - Chairman". Venture Capital Post. 5 December 2013.
  16. ^ 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.

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