A robust and pragmatic governance framework provides a practical balance between accountability and responsiveness, between empowerment and organisational alignment, and between risks and returns.

We espouse the principles of commercial discipline, built on professionalism and robust processes, and reinforced through a performance incentive system that is aligned with sustainable shareholder return.

Investment, business and commercial decisions are the responsibility of our Board and management. Neither the President nor the Singapore Government is involved in directing our investment, divestment or other business decisions.

Relating to Our Shareholder

Temasek is an investment company that owns and manages its assets on a commercial basis.

We are an exempt private company¹ incorporated on 25 June 1974 to own and manage investments previously held by our shareholder, the Minister for Finance (Incorporated).

This represents a policy commitment for these investments to be managed by Temasek on a sound commercial basis, as distinct from the government’s public interest role of policy-making and market regulation. This frees the government to act in the larger interests of the overall economy.

Temasek operates under the purview of the Singapore Companies Act and all other applicable laws and regulations governing companies incorporated in Singapore. Within this regulatory framework, Temasek operates with full commercial discretion and flexibility, under the direction of our Board of Directors.