An Active Investor
We are a generational investor, investing for generations to come. We aim to deliver sustainable value over the long term to our stakeholders.
We are committed to our roles as an investor and owner of our portfolio, seeking to deliver sustainable returns over the long term, and make a difference in what we do.
We have evolved since our inception – from investing mostly in Singapore, to growing with the transformation of Asia and beyond. Our initial portfolio comprised companies that reflected early Singapore. Today, many have become international businesses and iconic Singapore brands.
Our investment activities continue to be guided by four investment themes and the long term trends they represent:
● Transforming Economies
● Growing Middle Income Populations
● Deepening Comparative Advantages
● Emerging Champions
We focus on intrinsic value and our core risk-return framework. We decide on investments and divestments based on bottom-up intrinsic value tests. Our investment returns are tracked against a risk-adjusted cost of capital.
As an owner, we have full flexibility to reshape and rebalance our portfolio, whenever opportunities or challenges arise. We can take concentrated positions or remain in cash. We do not set limits or targets for asset classes, countries or sectors.
We invest in unlisted assets to benefit from the listings or sales of such investments at a premium.
Our unlisted assets comprise companies and funds. Our unlisted blue chip companies, such as PSA and Mapletree, and our portfolio of high quality funds, pay steady dividends and distributions.
Our investments in funds have been instrumental in helping us gain deeper insights into new markets and have provided co-investment opportunities.
From time to time, we may express our interest to invest or divest selected positions or manage our portfolio through options and warrants.
Committed to delivering sustainable returns
The generation of sustainable returns over the long term depends on stable, well‑functioning and well‑governed social, environmental and economic systems.
We consider environmental, social and governance factors when we make decisions as an investor.
We encourage our portfolio companies to adopt responsible and sustainable practices in their businesses, operations and supply chains.