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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 Singaporean state-owned conglomerate 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] Headquartered at Orchard Road, 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 and Washington D.C.[7]

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.[8] 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.[9]

Temasek has held overall corporate global credit ratings of “Aaa/AAA” by rating agencies Moody's[10] and Standard & Poor's[11] respectively since its inaugural credit ratings in 2004. It has also attained perfect quarterly scores[12] 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.[13]

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.[14] 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.[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 publicly known AUM of approximately US$1.64 trillion.

  1. ^ a b "Temasek Holdings is incorporated". NLB. Archived from the original on 9 June 2019. Retrieved 27 July 2019.
  2. ^ a b "Our Leadership – About Temasek". Temasek Holdings. Archived from the original on 23 November 2021. Retrieved 9 September 2020.
  3. ^ "Our OneTemasek Team – Institution". Temasek Review 2021. Archived from the original on 13 July 2023. Retrieved 13 July 2023.
  4. ^ "TEMASEK HOLDINGS (PRIVATE) LIMITED (197401143C) – Singapore Business Directory". SGPBusiness.com. Archived from the original on 30 September 2022. Retrieved 30 September 2022.
  5. ^ Temasek, Holdings (12 July 2022). "Temasek Review 2022". Temasek Review 2022: So Every Generation Prospers. Archived from the original on 3 July 2018. Retrieved 10 July 2018.
  6. ^ Bala, Sumathi. "Singapore's state-owned investor Temasek reports record portfolio value". CNBC. Archived from the original on 9 December 2022. Retrieved 9 December 2022.
  7. ^ "Temasek Review 2021: Bounce Forward". Temasek Corporate Website. 13 July 2021. Archived from the original on 21 September 2021. Retrieved 16 July 2021.
  8. ^ Chan, Genevieve (5 December 2021). "Four keys that could unlock a better, more sustainable world". The Straits Times. Archived from the original on 12 August 2022.
  9. ^ "Temasek Review 2021" (PDF). Temasek Review. 13 July 2021. Archived (PDF) from the original on 18 April 2022. Retrieved 16 July 2021.
  10. ^ "Moody's Rating Updates" (PDF). Moody's Investors Service. 28 July 2022. Archived (PDF) from the original on 14 August 2022. Retrieved 12 August 2022.
  11. ^ "S&P Global Ratings". 9 August 2021. Archived from the original on 14 August 2022. Retrieved 12 August 2022.
  12. ^ "Temasek hits perfect score on transparency index". AsiaOne. 5 June 2009. Archived from the original on 20 December 2019. Retrieved 2 December 2019.
  13. ^ "Our Portfolio". Temasek Corporate Website. Archived from the original on 27 November 2021. Retrieved 16 July 2021.
  14. ^ "Temasek is different from other sovereign wealth funds and pays tax - Chairman". Venture Capital Post. 5 December 2013. Archived from the original on 9 July 2018. Retrieved 6 April 2015.
  15. ^ Subhani, Ovais (12 July 2022). "Temasek portfolio surges to record high, driven by Singapore investments". The Straits Times. Archived from the original on 12 July 2022. Retrieved 12 July 2022.
  16. ^ "Singapore's $744 Billion Fund Eyes Deals in Low-Return World". Bloomberg.com. 7 February 2022. Archived from the original on 28 November 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. Archived from the original on 11 March 2022. Retrieved 22 January 2022.
  18. ^ "CPFB | CPF statistics". www.cpf.gov.sg. Archived from the original on 9 December 2022. Retrieved 9 December 2022.

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