My Dear Colleagues,

Ladies and Gentlemen,

Thank you all for joining us this evening as we extend our appreciation to Chairman Lim Boon Heng, who has served at the helm of Temasek for the past 12 years and he has touched the lives of many, including all of us in this room.

On Monday, two days ago, we had the opportunity to express our gratitude alongside Senior Minister Lee Hsien Loong, our panel members, TPC Chairmen, and other esteemed guests from around the world.

Tonight, we would like to express our heartfelt appreciation on behalf of your fellow Board members and colleagues, and all of us who have had the immense privilege of not only witnessing but also experiencing your service, your dedication, and your leadership.

I have known Boon Heng for over 30 years, from when I first entered politics in 1992. By then, he was already a very senior Member of Parliament. He had done many, many things in the NTUC. He had served already for 12 years as a Member of Parliament (MP) in Kebun Bahru, and then he actually came to my constituency – he became my MP in Ulu Pandan. And shortly after that, he became a Cabinet and Senior Minister of State, and very shortly after that, Minister and Secretary-General of the NTUC.

I have always respected his dedication, humility, and care for the people that he served. In politics, in the union movement, and also here at Temasek, we would all agree that Boon Heng has always put people first. In quiet ways, he has influenced generations, reminding us that true leadership is measured not by titles but by the trust and confidence that we show and that we leave behind.

Boon Heng has shared with us that when he first stepped into Temasek, he was struck by a framed quote on the wall: S Rajaratnam’s reminder that “we must do things today with tomorrow very clearly in our minds.” And that is a refrain which often comes to Boon Heng’s own mouth, and he reminds us of that all the time.

Another reminder adorned his own office: a framed copy of the Desiderata, with the simple injunction: “With all its sham, drudgery, and broken dreams, it is still a beautiful world. Be cheerful. Strive to be happy.”

Between these two texts lies the essence of his leadership – a duty to the future, and a spirit of hope and resilience in the present.

He has reminded us, through word and through deed, that stewardship at its core is about service: to be useful, and to pass on what we have in better shape to the next generation.

And that is why this spirit is something which we will carry forward as we face the challenges ahead, from climate change and technological disruption to geopolitical uncertainty and social divides.

These are complex times, but they are also times of opportunity: to invest in human capital, to catalyse solutions, and to build with courage for the long term. So long as we stick to our values and keep our sense of balance and sense of direction.

Boon Heng, you have my commitment that Temasek will continue building on the foundations that you and our past generations have laid, as we chart the next chapter of Temasek’s journey.

We will continue to draw on your experience and insights; your ability to reach out to build strong bridges among all those in the Temasek family; and your help to nurture our next generation to serve with dedication and commitment to fulfil the goals and ideals of Temasek.

I would like to also thank you very much for all your help, guidance and support these last few short months, to settle into Temasek and understand what’s happening. I don’t pretend to understand all that’s happening at Temasek. I still have a lot to learn. But you have given me a lot of guidance, a lot of support, and also a lot of space, to learn and to grow. And I want to thank you very much for that.

So, thank you Boon Heng. Thank you also, Florence, and may you and your family enjoy good health and happiness for many, many years to come. Thank you very much.