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Temasek Holdings is incorporated 25th Jun 1974

An investment holding company for the Singapore government, Temasek Holdings was incorporated on 25 June 1974 to manage its investments in government-linked companies (GLCs).[1] The company has since expanded its operations to cover key areas of business in sectors such as telecommunications, media, financial services, energy, infrastructure, engineering, pharmaceuticals and the bio-sciences. As at 31 March 2013, Temasek’s global portfolio was worth S$215 billion.[2]

Temasek Holdings is wholly owned by the Minister for Finance.[3] Ho Ching, wife of Lee Hsien Loong, the current prime minister of Singapore, was appointed the company’s executive director on 1 May 2002, and has served concurrently as chief executive officer since 2004.[4]

Since March 2002, Temasek has begun diversifying its portfolio outside of Singapore such that a third of its investments are in developed markets, a third in developing countries and a third in Singapore.[5] Some of the company’s major investments in foreign companies include Standard Chartered, ICICI Bank (India), Bank Danamon (Indonesia), Telekom Malaysia and ShinCorp (Thailand).[6] Temasek’s investments in local companies include Singapore Airlines, Singtel, DBS Bank, SMRT, ST Engineering, MediaCorp and Singapore Power.[7]

In the financial year ending March 2013, Temasek Holdings posted a group net profit of S$11 billion[8] on revenue of S$83.8 billion.[9] It has been granted an “AAA” credit rating by Standard and Poor’s and an “Aaa” rating by Moody’s, marking it’s 10th year as a “Triple A” credit-rated company since the inaugural rating in 2004.[10]

References
1. Temasek Holdings (Private) Limited. (2013). Corporate Profile. Retrieved September 17, 2013, from Temasek Holdings website: http://www.temasek.com.sg/abouttemasek/corporateprofile; Temasek International (Private) Limited. (2013, July). Governance Framework. In Temasek Review  2013 (p. 52). Retrieved September 17, 2013, from Temasek International website: http://www.temasekreview.com.sg/documents/Governance_Framework.pdf
2. Temasek Holdings (Private) Limited, 2013, Corporate Profile.
3. Temasek Review 2013, Jul 2013, p. 52.  
4. Ho Ching joins Temasek board. (2002, January 17). The Straits Times, p. 9; Seah, R. (2002, May 1). The link woman. Today, p. 1; Leong, C. T. (2002, May 21). Ho Ching is Temasek executive director. The Straits Times, p. 4. Retrieved from NewspaperSG; Temasek Holdings (Private) Limited. (2012). Management Team. Retrieved September 17, 2013, from Temasek Holdings website: http://www.temasek.com.sg/abouttemasek/managementteam#s11
5. Temasek Holdings (Private) Limited. (2013). Geography. Retrieved September 17, 2013, from Temasek Holdings website: http://www.temasek.com.sg/portfolio/portfolio_highlights/geography; Temasek Holdings (Private) Limited. (2013, July 4). Temasek portfolio at record high of S$215 billion [Press release]. Singapore: Author. Retrieved September 17, 2013, from  Temasek Holdings website: http://www.temasek.com.sg/mediacentre/newsreleases?detailid=19158; Trailblazing Temasek. (2005, March 14). Today, p. 18; Velloor, R. (2005, April 30). The S'pore stake. The Straits Times, p. 5; Tee, K. (2005, June 11). Temasek goes on two-day, $1b shopping spree. The Straits Times, p. 28; Lee, B. (2008, May 28). Temasek strengthens focus on Latin America. The Straits Times, p. 44; Tan, C. (2008, August 27). Bet on Asia stays, but Temasek sheds some assets. The Straits Times, p. 4; Chen, G. (2009, September 18). Quarter of Temasek's portfolio is in China. The Straits Times, p. 57. Retrieved from NewspaperSG.
6. Temasek International (Private) Limited. (2013). Major Investments. Retrieved September 17, 2013, from Temasek International website: http://temasekreview.com.sg/#portfolio-majorInvestments
7. Temasek Holdings (Private) Limited, 2013, Major Investments.
8. Temasek Holdings (Private) Limited, 4 Jul 2013, Temasek portfolio at record high of S$215 billion [Press release].
9. Temasek Review 2013, Jul 2013, p. 25.
10. Temasek Holdings (Private) Limited, 2013, Corporate Profile.

 

The information in this article is valid as at 2014 and correct as far as we are able to ascertain from our sources. It is not intended to be an exhaustive or complete history of the subject. Please contact the Library for further reading materials on the topic.

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