Singapore

To commemorate its 35th anniversary, Temasek Holdings (Temasek) today announced the establishment of Temasek Cares CLG Limited (Temasek Cares), an Institution of a Public Character that will focus on supporting the community in Singapore.

To this end, Temasek will commit to an endowment of S$100 million to Temasek Trust, which will be earmarked for Temasek Cares. In conjunction with this, Temasek Chairman, Mr S Dhanabalan, today presented a deed of gift to the Temasek Trust. The deed of gift was received by Mr Lee Seng Wee, representing the Temasek Trust.

Mr Dhanabalan said that Temasek Cares is the latest addition to Temasek’s long-standing commitment to support the community. “As a long term investor, we have an interest in the lives of the people in the countries in which we invest. Successful communities are part and parcel of the economic and social well-being of a nation. They enhance the long-term prospects for businesses and investors.”

He noted that as Temasek commemorates its 35th anniversary on 25 June 2009, it was an appropriate occasion to contribute to the local community, which has played a significant part in Temasek’s growth and development. “To-date, we have committed and contributed around S$1 billion directly and indirectly to the communities in Singapore and around Asia over the 35 years since our inception.”

Temasek Cares will partner non-profit and charitable organisations in the Singapore philanthropic community to develop programmes or deliver services, particularly to cover those who are under-served by existing programmes. It will aid and assist underprivileged individuals and families and promote community building through broad-based programmes.

The organisation will be governed by a Board of seven distinguished individuals, representing the broad spectrum of Singaporean society. Its founding Chairman is Mr Richard R Magnus, who is currently Chairman of the Casino Regulatory Authority. The other founding Board members include; Mdm Halimah Yacob, Ms Pang Cheng Lian, Ms Rajamanickam K Vemala, Mr Mohd Salleh Marican, Mr Benedict Cheong and Mr Goh Yong Siang.

Mr Dhanabalan also thanked the Board members of Temasek Cares for their generosity in volunteering their time to guide the organisation with their wisdom and experience.

Temasek Cares

Temasek Cares is an Institution of a Public Character established in 2009. Supported by a S$100 million endowment from Temasek Holdings to the Temasek Trust, Temasek Cares is also a reflection of the volunteer spirit of the staff of Temasek.

The focus of Temasek Cares is to help improve the lives of the underprivileged or disabled, poor and needy individuals, families and communities in Singapore, or their caregivers. Temasek Cares supports them through four main thrusts:

• Building People, through support with dignity for individuals and families in times of need;
• Building Capability, through education, training and other initiatives to improve opportunities for livelihood;
• Building Community, through fostering racial and religious harmony and promoting dialogue and learning across cultures and languages;
• Rebuilding Lives, through a helping hand for another chance for the disadvantaged individuals, families or communities. Mr Magnus added: “I would like to take this opportunity to thank Temasek for their commitment to support the underprivileged, poor and needy individuals and families, or their caregivers, in Singapore.”

“This is a gift set up as an endowment and meant to be used carefully. We hope to complement and partner other VWOs, NGOs or other institutions to make a difference in the lives of Singaporeans.”

Temasek Cares has a disbursement target of S$2 million a year to fund its programmes.

Temasek Trust

Set up in 2007 with an initial endowment of S$500 million from Temasek, the Temasek Trust institutionalises the commitment of Temasek to share the fruits of its labour, and play a constructive role in the continued development and growth of the communities and people in the region.

Temasek Cares complements the philanthropic organisations supported by the Temasek Trust. They include the Temasek Foundation, Singapore Technologies Endowment Programme, Singapore Millennium Foundation and Temasek Life Sciences Laboratory.

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 Additional Information

• Speech by Mr S Dhanabalan, Chairman, Temasek Holdings, at the establishment of Temasek Cares Singapore

• Opening Remarks by Chairman of Temasek Cares, Mr Richard Magnus

• Frequently asked questions