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We are the auditors of Temasek Holdings (Private) Limited (the Company) and its subsidiary companies (the Group). We have audited the statutory consolidated financial statements of the Group for the financial year ended 31 March 2008. We have issued an unqualified audit report dated 16 July 2008 on the audited statutory consolidated financial statements of the Group for the financial year ended 31 March 2008. The audited statutory consolidated financial statements of the Group for the financial years ended 31 March 2004, 2005, 2006 and 2007 were audited by another auditor whose auditor’s reports contained unqualified opinions. Under the Singapore Companies Act, Chapter 50 (the Act), Temasek Holdings (Private) Limited is an exempt private company and is not required to publish its audited statutory consolidated financial statements. The Group publishes a Group Financial Summary, which is prepared and presented based on the audited statutory consolidated financial statements of the Group. The Group Financial Summary comprises Group Financial Highlights set out on pages 28 to 29, Group Income Statements for the financial years ended 31 March 2004, 2005, 2006, 2007 and 2008 set out on page 30, Group Balance Sheets as at 31 March 2004, 2005, 2006, 2007 and 2008 set out on page 31, Group Cash Flow Statements for the financial years ended 31 March 2004, 2005, 2006, 2007 and 2008 set out on page 32, and Group Statements of Changes in Equity for the financial years ended 31 March 2007 and 2008 set out on page 33. Our responsibility is to express an opinion on whether the Group Financial Summary has been prepared from and presented consistently with the audited statutory consolidated financial statements of the Group. We conducted our examination in accordance with Singapore Standard on Auditing SSA 800 The Independent Auditor’s Report on Special Purpose Audit Engagements. Those Standards require that we comply with ethical requirements and plan and perform the examination to obtain reasonable assurance whether the Group Financial Summary is free from material inconsistency with the audited statutory consolidated financial statements of the Group. Our work included examining, on a test basis, evidence supporting the consistency of the amounts and disclosures in the Group Financial Summary to the audited statutory consolidated financial statements of the Group. In our opinion, the Group Financial Summary is consistent, in all material respects, with the audited statutory consolidated financial statements of the Group from which they are derived. 
KPMG |
