News Releases

29 Sep 2016 SMRT Scheme of Arrangement Approved by Minority Shareholders

SMRT Scheme of Arrangement Approved by Minority Shareholders

  • 84.83%  of minority shareholders present and voting in person or by proxy at the Scheme Meeting voted in favour of the Scheme, such minority shareholders represent 92.89% of the shares voted; 
  • Approval will now be sought from the High Court of Singapore to sanction the Scheme;
  • Subject to the terms of the Scheme, if the Court approves the Scheme, it will become effective and binding for all minority shareholders, and SMRT will be delisted from the Singapore Exchange
6 Sep 2016 Temasek establishes new Philanthropic Platform to better serve the evolving needs of the community

Temasek establishes new Philanthropic Platform to better serve the evolving needs of the community

  • Temasek’s new philanthropic platform ensures Foundation and endowment programmes remain relevant and beneficial for society
  • Delivers increased opportunities for collaborations and innovation
  • More than 300,000 people have benefited from programmes over the past decade
20 Jul 2016 Temasek and SMRT Jointly Undertake to Privatise SMRT

Temasek and SMRT Jointly Undertake to Privatise SMRT

  • Temasek and SMRT accept the New Rail Financing Framework (NRFF), as part of a regulatory transition;
  • However, there remain significant business risks and challenges, which are beyond the control of SMRT;
  • Despite the risk-sharing mechanism under the NRFF, there is no certainty that SMRT Trains will earn EBIT margins of 5%, compared to the last five fiscal years’ average EBIT margin of 16%;
  • Privatisation will provide SMRT greater flexibility to focus on its primary role of delivering safe and high quality rail service, without short term pressures of being a listed company;
  • The proposed privatisation Scheme provides an opportunity for minority shareholders to monetise their holdings for cash at S$1.68 per share;
  • Temasek agrees with SMRT that there will be no special dividend arising from asset sale under the NRFF - net proceeds received will substantially be used to pay part of its debt of S$762m as at 30 September 2016, and to support re-investment needs of SMRT.
7 Jul 2016 Portfolio resilience positions Temasek to meet more volatile and challenging market conditions

Portfolio resilience positions Temasek to meet more volatile and challenging market conditions

  • Resilient portfolio, valued at S$242 billion as at 31 March 2016;
     
  • Ended the year in a net cash position, with full financial flexibility;
     
  • Steady dividend income of S$8 billion last year, or about 18 times over interest expense;
     
  • Active portfolio reshaping – invested S$30 billion and divested a record S$28 billion;
     
  • One-year return to shareholder of -9.02%, reflecting share price declines of listed assets;
     
  • 6% annualised Total Shareholder Returns over 10-year and 20-year periods;
     
  • Compounded Total Shareholder Return since Temasek’s inception in 1974 is 15%;
     
  • New office to open in San Francisco in late 2016 to address technology opportunities.

Temasek Review 2016

Investment Themes

Guided broadly by our investment themes, we seek to build a portfolio that delivers sustainable long term returns.