Singapore, Tuesday 25 June 2024 — Temasek today announced a S$150 million community gift — named “T-Spring” — in line with its community objective of Advancing Capabilities. The T-Spring gift aims to build a resilient and future-ready workforce in Singapore that will enable businesses to meet the needs of a changing marketplace. The gift was announced at Temasek’s annual Community Day, which also marks the company’s 50th anniversary this year.
Working with partners, the gift embodies a catalytic approach to develop and roll out new initiatives in three areas:
To sustain efforts over the long term, 4% of the gift’s principal amount will be distributed annually.
Mr. Lim Boon Heng, Chairman of Temasek Holdings, said, “Human capital has been the driver of our journey, and plays an important role in our contribution to Singapore. As Temasek turns 50, we continue to do things today with tomorrow in mind. Our T-Spring community gift aims to enable Singapore’s workforce and organisations to better prepare for a different world and open up new opportunities for all. It reflects our commitment to this and future generations, so every generation prospers.”
Mr. Dilhan Pillay, Executive Director and CEO of Temasek Holdings, said, “Temasek’s DNA is rooted in Singapore’s history. Growing alongside the nation, we recognise that businesses cannot succeed unless societies thrive. We must not only do well, but also do right and do good. Through structured community contributions and our own staff volunteer efforts, we have continually given back to our wider community over generations. Our T-Spring gift and annual Community Day furthers our commitment to building a better and more inclusive tomorrow for Singapore.”
Skills development for workers in at-risk sectors, seniors, Persons with Disabilities (PwDs), and neurodiverse individuals (NDIs)
Artificial intelligence and longer working lives are major trends driving the need for workforce transformation. This need is especially pronounced in Singapore, which is experiencing an ageing population and shrinking workforce1.
Skills development will be a crucial lever to help older workers and those in at-risk sectors to achieve career longevity and relevancy. In addition, there is a concerted effort globally and locally to drive inclusive hiring, and this presents an opportunity to better integrate PwDs and NDIs.
Temasek takes a catalytic approach to workforce skills development and will collaborate with industry players, unions, and training providers to pilot job redesign solutions and bridge existing training gaps. The programmes will aim to help at-risk workers build competencies and encourage employers to pursue inclusive hiring of seniors, PwDs, and NDIs.
Fostering future-ready talent to bridge industry skill gaps
According to the Economic Development Board, Singapore’s potential new engines of growth include areas such as the green economy, artificial intelligence, and precision medicine2. Meeting the talent demands of these growth sectors is crucial and will require workers with emerging skills and training in STEM.
Temasek will provide tertiary scholarships to address needs for the future workforce and create pathways for personal and academic growth. Scholarships will be offered to undergraduates and postgraduates, and will prioritise applicants for STEM studies and from disadvantaged backgrounds. Temasek is targeting the AY25/26 student intake for its first batch of scholars.
Collaborating with global experts to drive innovation
Singapore continues to invest heavily in research, innovation, and enterprises, at about 1% of its Gross Domestic Product between 2021 and 20253. The country has built its innovation ecosystem on partnerships and networks, allowing organisations to crowd in fresh ideas, diverse perspectives, and innovative thinking from global leaders.
Temasek will add to those efforts with the launch of a fellowship programme to attract pinnacle industry experts to partner with Temasek and its ecosystem to drive innovation for the betterment of Singapore. They include well-regarded individuals and global leaders in fields such as artificial intelligence and sustainable solutions. The establishment of a distinguished community of Temasek Fellows will facilitate the exchange of knowledge and expertise.
Giving back as OneTemasek
Temasek’s social licence to operate as a global investor depends on its ability to create value for all stakeholders, including the communities it operates in. Since 2003, Temasek has been setting aside a portion of its net positive returns above its risk-adjusted cost of capital for community gifts, to achieve its community objectives of Connecting People, Uplifting Communities, Protecting the Planet, and Advancing Capabilities. The T-Spring gift is one of the initiatives that will be funded from this source. More details on Temasek’s community contributions and non-profit ecosystem can be found in Appendix A.
Apart from community gifts, Temasek staff actively volunteer for community activities throughout the year. Temasek’s incorporation date, 25 June, is designated as its annual Community Day where staff give back to the community as one. This year, to commemorate its 50th anniversary, more than 500 staff volunteers from Temasek, Temasek Trust, Temasek Foundation, Temasek Trust Asset Management, and Stewardship Asia Centre participated in Temasek’s Community Day. Together with 16 community partners, volunteers gathered to 1) enhance a HDB void deck space through mural wall painting and engage the community through a care pack distribution; 2) refresh the homes of disadvantaged seniors living in one-room flats; 3) support biodiversity and combat climate change with a tree planting session; and 4) prepare youths for employability through learning visits. More details on the activities and partners can be found in Appendix B.
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About Temasek
Temasek is a global investment company headquartered in Singapore, with a net portfolio value of S$382 billion (US$287b, €264b, £232b, RMB1.98t) as at 31 March 2023.
Our Purpose “So Every Generation Prospers” guides us to make a difference for today’s and future generations.
Operating on commercial principles, we seek to deliver sustainable returns over the long term.
Temasek has overall corporate credit ratings of Aaa/AAA by rating agencies Moody’s Investors Service and S&P Global Ratings respectively.
We have 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and London, Brussels, Paris, New York, San Francisco, Washington DC, and Mexico City outside Asia.
For media queries, please contact:
Grace Loi Tel: +65 9658 5480 |
Woo Jia Min Tel: +65 8319 0945 |
APPENDIX A – Temasek’s Community Contributions
Temasek’s journey in building social capital started over 20 years ago, when it adopted a deliberate and structured approach, anchored on the twin pillars of governance and sustainability, to give back to communities.
Since 2003, Temasek has been setting aside a portion of its net positive returns above its risk‑adjusted cost of capital for community gifts.
These are approved by the Temasek Board and then donated to partners to achieve Temasek’s community objectives of Connecting People, Uplifting Communities, Protecting the Planet, and Advancing Capabilities.
Temasek Trust (TT) has been the primary beneficiary of Temasek’s gifts. TT disburses grants for programmes to be developed and delivered by Temasek’s non-profit ecosystem, including Temasek Foundation, Temasek Life Sciences Laboratory, Stewardship Asia Centre, and Mandai Nature. Temasek’s non-profit ecosystem has evolved over the years to better handle multi-faceted and complex social challenges.
To date, Temasek’s gifts to TT have impacted about 3.7 million lives across Singapore and beyond.
APPENDIX B – Temasek’s Community Day 2024
Temasek’s incorporation date, 25 June, is designated as its annual Community Day where staff give back to the community as one. This year’s Community Day is especially special as Temasek commemorates 50 years of Resilience, Growth, and Purpose and showcases its continued commitment to Do Well, Do Right, and Do Good.
This year’s Community Day features Temasek’s first-ever expanded programme, in collaboration with 16 community partners, and brings together staff volunteers from Temasek, Temasek Trust, Temasek Foundation, Temasek Trust Asset Management, and Stewardship Asia Centre. Over the course of the day, staff volunteers will support four parallel activities in line with Temasek’s community objectives of Connecting People, Uplifting Communities, Protecting the Planet, and Advancing Capabilities, impacting more than 700 beneficiaries across Singapore.
Temasek’s Community Day 2024 Activities |
Community Partners |
Connecting People Enhancing a HDB rental block's void deck in Clementi through a botanical-themed mural painting artwork in partnership with Temenggong Artists-In-Residence, to help improve the residents’ well-being and sense of belonging. Care packs will also be distributed to the rental block residents as well as senior residents living in nearby blocks. |
Clementi Citizens’ Consultative Committee (CCC) is a Grassroots Organisation under the People’s Association (PA). It plans and leads major grassroots activities within Clementi Constituency, including local assistance programmes, major fund-raising projects and national campaigns. These initiatives support PA’s mission – to build and bridge communities in achieving One People, One Singapore. Lions Befrienders Service Association (Singapore) was founded in 1995 with the goal of providing holistic care for seniors to age healthily in place with community participation, enabling them to enjoy purposeful and meaningful lives. Today, it actively engages about 10,000 seniors, catering to their social, emotional, mental, physical and spiritual needs. Temenggong Artists-In-Residence is a non-profit arts company and an Institute of a Public Character. It strives to inspire arts, heritage and cultural appreciation to the public through curated exhibitions, talks, workshops and community activities. It shares and increases multicultural exchanges, participation, and learning through strategic partnerships. |
Uplifting Communities Refreshing the homes of disadvantaged seniors living in Central Singapore District’s one-room flats — in partnership with Central Singapore Community Development Council and Chinatown Active Ageing Centre — to provide them with a healthy, safe, and clean living environment and promote their mental and physical well-being.
Providing catered lunch to the senior rental unit residents and hosting a separate luncheon for the other neighbouring senior residents at a nearby restaurant. |
Central Singapore Community Development Council (CDC) serves close to one million residents living in the 23 divisions across Central Singapore District. It envisions itself as a Do-Good District, with a focus on helping residents live The Better Life. Chinatown Active Ageing Centre is a drop‑in social recreational centre that extends support to seniors living within the Chinatown Precinct. It is also a go-to point for seniors to build strong social connections, take part in recreational activities, access community health services, and contribute to the community. |
Protecting the Planet Supporting biodiversity and combating climate change with a tree planting session under NParks’ registered charity and IPC, Garden City Fund’s Plant-A-Tree programme, as part of Singapore’s OneMillionTrees movement.
Participating in a workshop by Edible Garden City, together with students across three schools, to learn about the importance of food resilience in Singapore and how to start an edible garden at home. |
Edible Garden City is dedicated to creating social change through community-centric agriculture. They are a diverse group of local farmers united in helping cities become more self-sufficient, while growing food in a manner that is healing to the environment. The social enterprise hires inclusively and employs therapeutic horticulture to empower elderly and at-risk communities. Metta School offers special education to students with Mild Intellectual Disability (MID) and students with mild autism who function within the IQ range of MID. National Parks Board (NParks) launched its OneMillionTrees movement in 2020. This is a nationwide effort to plant a million more trees across Singapore by 2030, bringing the number of trees in Singapore to more than 8 million. Pasir Ris Secondary School fosters eco‑stewardship among students through initiatives like the eco-garden, teaching urban farming for food security. Their programme promotes environmental respect and love, guided by the 3H approach: Head, Heart, and Hands. Springfield Secondary School's EcoSTEM Club students and Environment Ambassadors are poised as future-ready innovators dedicated to advancing environment sustainability through the school’s robust programme, and in partnership with the broader community. |
Advancing Capabilities Partnering with Temasek’s portfolio companies (CapitaLand Investment, Singapore Airlines, and SMRT) as well as Riding for the Disabled Association of Singapore (RDA) to curate a learning journey for students from NorthLight School. The aim is to provide them with a view of the industry landscape and to showcase future-related initiatives and skillsets applicable for their respective vocational courses. |
CapitaLand Integrated Commercial Trust (CICT) is the first and largest real estate investment trust listed on SGX-ST. CICT is managed by CapitaLand Integrated Commercial Trust Management Limited, a wholly owned subsidiary of CLI. CapitaLand Investment (CLI) is a leading global real asset manager with a strong Asia foothold. It is headquartered and listed on Singapore Exchange Securities Trading Limited (SGX-ST). NorthLight School caters to students who are less academically inclined by preparing them for lifelong learning and employability. With the school's experiential approach in teaching and learning, it provides students who benefit from a hands-on, applied curriculum with the means of reaching their fullest potential. RDA Singapore provides free equine‑assisted therapeutic sessions to children and adults with physical and mental disabilities. Singapore Airlines is a global company dedicated to providing air transportation services of the highest quality, and is committed to the constant enhancement of the three main pillars of its brand promise: Service Excellence, Product Leadership, and Network Connectivity. SMRT Trains is the first and largest train services provider in Singapore. As a subsidiary of SMRT Corporation, it manages and operates the North-South Line, East‑West Line, the Circle Line, the Bukit Panjang Light Rail Transit system, and the new Thomson-East Coast Line. With Respect, Integrity, Safety and Service, and Excellence as its core values, SMRT Trains is committed to provide safe, reliable and comfortable service for its commuters. |
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1 It is estimated that by 2030, there will only be 0.7 local workers entering working-age for every one worker exiting in Singapore. Source: Kok Ping Soon, “Reimagining Productive Longevity,” Ethos, no. 20 (2019): 6.
2 Economic Development Board, EDB attracts investment commitments expected to create 20,045 jobs over the next 5 years; aims to strengthen economic competitiveness amid a challenging global environment, 30 Jan 2024
3 National Research Foundation, Research, Innovation and Enterprise 2025 Plan, 11 Dec 2020
