What prompted Temasek Holdings to launch Temasek Cares?

•  Temasek Cares was established to commemorate our 35th anniversary. Temasek Cares complements other existing philanthropic organisations supported by Temasek through the Temasek Trust, such as the Temasek Foundation (TF), Singapore Technologies Endowment Programme (STEP), Singapore Millennium Foundation (SMF), Temasek Life Sciences Lab (TLL).

•  Temasek has continually given back to the wider community through direct donations and through our sponsorship of other philanthropic organisations; our staff have also been consistent and quiet volunteers over many years, contributing their time and energy to the underprivileged in Singapore .

•  Temasek Cares reaffirms our commitment to the Singapore community; it also reflects the volunteer spirit and efforts of our staff.

•  We have made a commitment several years ago that for each year of positive Wealth Added (WA)*, we will put aside a share for community contributions.

•  Temasek has had several years of positive wealth added and has been putting aside provisions for community contributions during those years when we have positive wealth added. This gift comes from part of those provisions which we have put aside in past years.

*WA is a measure of returns above a risk-adjusted hurdle on the opening market value of our portfolio, excluding net capital movements.

•  The Board of Temasek Cares comprises very experienced people who have an interest in serving the community in the different ways.

•  They will be responsible for setting the policies and approving the relevant programmes within the mandate of Temasek Cares to build people, build capabilities, build community and rebuild lives.

•  The aim is to help make a difference in the lives of Singaporeans and add to the opportunities for the Singapore community. In particular, Temasek will work in partnership with other agencies and service providers, including both private and public institutions. We would like to identify and support causes and programmes that are meaningful and effective but which could do with more support.

•  Temasek Cares targets to disburse S$2 million a year to fund its programmes.

•  We will determine programmes to support based on their impact to the Singapore community, their feasibility as well as our partners' expertise, resources and ability to mobilise community support.

•  We welcome partnerships with corporate donors and the public, which align with our objectives.

•  We believe that working with partners to develop a manageable, sustainable and meaningful list of programmes to support over a period of time would better ensure that funds are allocated efficiently towards our objective.

•  As with all grant-makers and foundations, we will work with partners for a reasonable reporting structure.

•  We do recognise however, that the reporting structure must not impose a heavy burden on the Company, to the extent that its ability to fulfill its mandate and contribute to the wider community is diminished.

•  As an Institution of a Public Character, we will be audited and will prepare our set of accounts for scrutiny.

•  We are accountable to our Board and the Commissioner of Charities.