What is the heritage
of Temasek Holdings? Why was it established?
Temasek Holdings was created in 1974 to hold and manage investments and assets previously held by our shareholder, the Minister for Finance (Incorporated). The objective was to find a way to better manage the portfolio of companies and investments accumulated by the Ministry of Finance in the first decade of nation building since 1965. The intent was for the Ministry to focus on its core role of policy making and government administration.
Governed by the Singapore Companies Act and later designated as a Fifth Schedule entity as well, under the Singapore Constitution, Temasek operates as an autonomous and professional investment house, guided by an independent board.
Endowed with an initial portfolio of S$354 million transferred from the Ministry of Finance, the market value of our portfolio has grown some 36 years later to S$186 billion (over US$130 billion) as at 31 March 2010.
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