Good governance in and of itself does not deliver value, but it can help assure the sustainability of an institution beyond the contributions of any individual or team.

Our governance framework emphasises substance over form, and long term over short term. It provides for accountability and a robust balance between empowerment and compliance.

We espouse the principles of commercial discipline, built on a culture of meritocracy, excellence and integrity. Our commitment to deliver sustainable long term value as one Temasek team is supported by an incentive philosophy which emphasises sustainable returns to align our staff as co-owners.

As an investment company, Temasek owns and manages its assets on a commercial basis. Investment, divestment, and business decisions are directed by our Board and management.

Under Singapore’s Constitution and laws, neither the President of Singapore nor the Government is involved in our investment, divestment or other business decisions, except in relation to the protection of Temasek’s past reserves.

For further information on corporate governance, please see Governance Framework in Temasek Review 2011.