Singapore Investment Company: Temasek Holdings Private Limited

Temasek Holdings Pte Ltd (hereinafter referred to as Temasek Holdings or Temasek) Temasek Holdings Private Limited， It is an investment company in Singapore, 100% of which is owned by the Ministry of Finance of the Singapore Government. Since it has never published its financial statements since its establishment to September 2004, it is considered to be one of the most mysterious enterprises in Singapore. Obtained since 2004 Moody's Investors Service and S&P Since the global rating, Temasek's overall credit rating has been respectively "Aaa/AAA". Temasek also received a perfect quarterly score on the Linaburg Maduell Transparency Index, which measures the openness of government owned investment funds. In addition to Temasek, the Singapore government also owns another sovereign wealth fund, GIC Private Limited, which manages about $440 billion in assets.

The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/temasek.html

Temasek Temasek Holdings Encyclopedia of Private Limited

Temasek is a transliteration of Temasek in Malay. Temasek was established in 1974 as a private holding company under the supervision of the Ministry of Finance of Singapore. So why did the Singapore government set up such a company in the early 1970s? What is the background of its establishment? What is its mission? What does it have to do with the Singapore government? To answer these questions, we need to briefly review the history of Singapore's economic development. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/temasek.html

Singapore gained autonomy from the United Kingdom in 1959, especially after its separation from Malaysia in 1965, when it established the Republic of Singapore. National sovereignty and economic development are entirely in its own hands. The primary task facing the newly born Singapore government is to create employment opportunities and reduce employment pressure. For this reason, Singapore has adopted the economic policy of taking the government as the leader and vigorously developing labor-intensive manufacturing industry. At that time, some basic industries in Singapore, such as transportation and shipbuilding, were state-owned enterprises set up by the government. In Singapore, such enterprises are called enterprises associated with the state, or "Guolian enterprises" for short. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/temasek.html

After nearly 10 years of recovery and development, by the early 1970s, Singapore had gained employment for all, and the government adjusted its economic development policy, that is, from labor-intensive to capital intensive and high-tech industries. Due to the oil crisis in the early 1970s, Singapore decided to develop its crude oil processing industry by taking advantage of its special strategic position. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/temasek.html

So in 1977, Singapore Petroleum Corporation (SPC) was funded by the government, and soon Singapore Chemical Group (PCS) was established. At the same time, the government has also invested in the construction of a number of high-tech electronic and computer industries. By the mid-1970s, there were more and more enterprises (namely, Guolian enterprises) set up by various government departments in Singapore. How to strengthen the management and supervision of these enterprises so that they can continue to grow in the fierce market competition, instead of lying on the government and relying on the protection and help of the government, This was a very urgent and arduous task for the Singapore government at that time. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/temasek.html

Before the mid-1970s, in order to further promote the development and management of national infrastructure, the Singapore government established some so-called "statutory bodies", which integrate government functions and enterprise operations, such as power Bureau, Post and Telecommunications Administration Bureau, Petroleum Administration Bureau, etc. (similar to China's Ministry of Power, Railway, Post and Telecommunications). Implement the unification of government and enterprises, formulate regulations and policies, and conduct industry management and operation. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/temasek.html

With the increase in the scale of industrial development and the number of enterprises, the government feels that it is more and more difficult to manage the numerous Guolian enterprises. To this end, the government gradually separated the functions of formulating industrial policies and regulations from the operation of enterprises, and merged the management agencies of relevant industries. In order not to affect the development of enterprises, ensure that the original state-owned assets are not lost, and can increase in value, in 1974, the Singapore government decided that the Ministry of Finance (Investment Department) was responsible for establishing a national asset management and management company specializing in the operation and management of the capital invested by the original country in various types of League of Nations enterprises. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/temasek.html

This company is Temasek, which is a holding company registered in a private name in accordance with the relevant provisions of the Singapore Company Law. According to the commission of the government at that time, Singapore developed bank Temasek was authorized to operate the shares of 36 Guolian enterprises (totaling S $345 million, about US $70 million). The purpose entrusted to it by the government is to "cultivate world-class companies through effective supervision and commercial strategic investment, so as to contribute to the economic development of Singapore." The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/temasek.html

Temasek Temasek Holdings Private Limited History Encyclopedia

Temasek Holdings is the most well-known of several companies wholly-owned by the Singapore government, but it has always remained mysterious. As an exempted private enterprise, Temasek Holdings does not have to disclose its annual financial statements like a listed company, so rumors about the company have been going on all the time. The company controls Singapore Telecom, Singapore Airlines, Jetstar Asia Airlines, DBS Bank, Singapore Metro, Singapore International Port Group, Singapore Power, Keppel Group and Raffles hotel Almost all of Singapore's most important enterprises with the largest turnover have been estimated by foreign media that the market price of shares held by Temasek Holdings accounts for 47% of the entire Singapore stock market, which can be said to almost dominate the economic lifeline of Singapore. Because of this, Singapore's economic model is called "state capitalism", that is, to invest through private enterprises controlled by the state and dominate the capital market dominated by private enterprises. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/temasek.html

In addition to investing in the local market of Singapore, Temasek Holdings also regards the Asian market and the developed country market as the investment destination. At present, about half of its assets are located outside Singapore. Major investments include Malaysia Telecom ICICI Bank in India Optis, Australia's second largest telecommunications company. In recent years, the company has increased its investment in the Chinese market and showed interest in Minsheng Bank, the first private bank in China. The article originates from the home of American stocks | encyclopedia of American stocks | account opening and investment of American and Hong Kong stocks- https://www.mg21.com/temasek.html

In 2002, He Jing, the wife of the then Deputy Prime Minister and the current Prime Minister of Singapore, Lee Hsien Loong, was appointed as the executive director and CEO of Temasek Holdings, which caused a storm in the international media. Many people criticized and alluded to the improper motivation of this appointment. The public investment was basically controlled by the Lee Kuan Yew family.

In October 2004, the company released its financial statements for 2003 for the first time. This measure is considered to prepare for the initial issuance of enterprises bond Instead, prepare. The report shows that in the past 30 years, the overall return on investment of the company was 18%, but in the past 10 years, the return on investment was only 3%. With total assets of 90 billion US dollars, it is the largest enterprise in Singapore, and its scale is comparable to that of General Electric of the United States. In terms of performance in 2003, the company's return on investment was as high as 46%, which was considered to be the result of He Jing's bold expansion after becoming CEO. Two international rating agencies S&P And Moody's Investors After the financial statements were published, Temasek Holdings was given the highest AAA credit rating.

In February 2010, it was confirmed that a global investment company had been established, and the expected size of "Seatown Holdings International" was about US $3 billion (about HK $23.4 billion).

On July 5, 2010, Temasek sold 1.5 billion H shares of China Construction Bank and 5.19 billion H shares of Bank of China, realizing 9.53 billion and 19 billion yuan, totaling 28.53 billion yuan. Temasek still holds 15.406 billion shares of CCB and 5.281 billion shares of BOC, respectively 6.41% and 6.95%.

On November 1, 2010, Temasek Holdings announced to inject US $400 million into the Brazilian oil and gas service company (OOG) and will hold 14.3% of the company's equity. Odebrecht is Largest in Latin America And its oil and gas service company has been working with Petrobras Maintain partnerships.

In June 2013, Temasek Holdings and Alibaba Group Jointly participated Fanatics Inc. $170 million in private equity investment.

On September 13, 2013, Temasek sold 7.7 million shares (or 21.3%) through its subsidiary Sennet Investments at $23.8 to $24 per share Youku potato Is no longer the largest single major shareholder of Chinese capital.

On March 21, 2014, Temasek invested HK $44 billion in cash to hold 24.95% of the indirect equity interests of Watsons Group. After the completion of the transaction, Watsons Group became the holding company of the overall retail sector. Hutchison Whampoa still holds 75.05% of the equity of Watsons Group, and still retains the control of Watsons Group and the retail sector. The transaction reflected that the valuation of Watsons Group was about HK $177 billion, accounting for about HK $41.50 per share of Hutchison Whampoa.

On March 21, 2014, Temasek agreed to subscribe the convertible bonds of the company with a total amount of 150 million US dollars (about 1.164 billion Hong Kong dollars) through its Baytree, and can convert them into common shares of the company at an initial exchange price of 7.0 Hong Kong dollars per share. Assuming that the company has not issued any new ordinary shares, Temasek will indirectly hold 8.32% of the issued share capital of the company after the convertible bonds are fully converted at the initial exchange price.

On December 8, 2014, Temasek will invest 180 million dollars to acquire high-frequency traders headquartered in New York Virtu Financial Inc Nearly 10% equity.

In 2014-2015, Temasek participated in Snapdeal Round E financing of US $105 million and the next US $500 million.

For the fiscal year ended March 31, 2016, the annual dividend income was S $8 billion, the 10-year return on equity was 6%, and the total value of the Group's investment portfolio was about S $242 billion.

On June 9, 2016, Temasek announced to transfer its shares of Neptune Orient to France Dafei ocean shipping Group. This amount was up to 3.38 billion US dollars compared with the transfer amount, and because the ownership of Delta Marine in Neptune Orient exceeded the upper limit of 90%, the company was required to Singapore Exchange Downtown.

In 2016, Temasek sold 21% of the shares of Intouch Holdings, a Thai telecommunications group formerly known as Shin Corp.

On August 2, 2017, Sportswear Company, the parent company of Italian high-end menswear brand Stone Island, announced that it had sold 30% of the equity of Stone Island to Temasek, but did not disclose the specific transaction amount.

In November 2017, Temasek followed the investment Bolt Threads Inc. Round D financing of US $123 million.

In March 2018, Temasek followed the investment Zipline Inc. 70 million USD round C financing.

On April 16, 2018, Bayer, Germany Selling 3.6% equity to Temasek to raise 3 billion euros (about 3.7 billion dollars) for acquisition monsanto To prepare for the transaction.

In 2018, Temasek participated in Phononic Round F financing of $40 million.

For the fiscal year ended March 31, 2019, the annual dividend income was S $9 billion, the 10-year return on equity was 9%, and the total value of the Group's investment portfolio was about S $313 billion (US $231 billion).

On June 28, 2019, Dahlia Investments Pte, an indirect wholly-owned subsidiary of Singapore sovereign fund Temasek Holdings, invested US $300 million (about HK $2.34 billion) in dividends of about 21.7% of the equity of Li&Fung Logistics under Feng.

In June 2019, Temasek Holdings led the investment of Commonwealth Fusion Systems $84 million in A+round financing.

In December 2019, Temasek Holdings led the investment of General Fusion Inc. The round E financing of 65 million US dollars continued to increase investment in nuclear fusion technology.

In February 2020, Temasek announced that it would freeze the salaries of senior managers and voluntarily reduce their salaries throughout the company, partly for the purpose of reducing Covid-19 The affected community plan provides funding.

In April 2020, Temasek Holdings led the investment Alan SA 50 million euros round C financing.

In June 2020, Temasek Holdings led the investment Tropic Biosciences UK Ltd. $28.5 million round B financing.

In July 2020, Temasek invested Canada Pension Plan Investment Board Leading investor Perfect Day, Inc. C+round financing of 160 million US dollars, Horizons Ventures Follow up.

In July 2020, Temasek Holdings exclusively invested BlueVoyant US $67 million round C financing.

In October 2020, Temasek followed the investment of Dock $170 million in private equity investment.

In November 2020 and September 2022, Temasek Holdings participated in the InnovaFeed The latter is a French company that produces insect protein for the feed industry Biotechnology Company 。

In November 2020 and August 2021, Temasek participated in Battery Developer's Form Energy, Inc. Investment.

In April 2021, Temasek followed suit Arrive Logistics LLC $300 million in private equity investments.

In April 2021, Temasek Holdings launched an online service for India education company upGrad Education We made an exclusive investment of 120 million dollars.

In April and July 2021, Temasek Holdings participated in Nium $21 million exclusive investment and $200 million round D financing.

In July 2021, Temasek led the investment in India's social media and social networks service company ShareChat $145 million in Series F financing.

In July 2021, Temasek Holdings led the investment of iCapital Network $440 million in round C financing, Goldman Sachs 、 The Carlyle Group 、 Kohlberg Kravis Roberts 、 J.P. Morgan Chase and other 20 institutions follow the investment.

In July 2021, Temasek Holdings led the investment Woebot Labs 90 million USD round B financing.

In August 2021, Temasek participated in Hopin Ltd 450 million USD round D financing.

In August 2021, Temasek led the investment Unacademy $440 million round H financing.

In September 2021, Temasek participated in Tiger Global Management Leading investor Snyk Limited Round F raised 530 million US dollars.

In October 2021, Temasek led the investment Open Financial Technologies Round C financing of US $100 million.

In October 2021, Temasek participated in FTX A round of B+investment of 420 million US dollars.

In November 2021, Temasek participated in Farmer's Business Network, Inc. We also participated in the company's round F (2020.8) and round D (2017.11) financing.

In November 2021, tencent and Temasek Lead investment Quotations from Chairman Mao Zedong $500 million in Series E financing.

In December 2021, Temasek Holdings led the investment of Shiprocket $185 million in Round E financing.

In January 2022, Temasek participated in PortalOne, Inc. Round A financing of 60 million US dollars.

In February 2022, Temasek led the investment Celestial AI Inc. $56 million in Series A financing.

In April 2022, Temasek led the investment Upside Foods $400 million round C financing.

In August 2022, Pavilion Capital under Temasek participated in Zilliz We previously participated in Zilliz's USD43 million round B financing in November 2020.

In October 2022, Temasek participated in Solugen Round D financing of US $200 million. Previously, Temasek also participated in Solugen's US $350 million round C financing in September 2021.

In November 2022, Temasek Holdings led the investment Healthkart $135 million in Series H financing.

In December 2022, Temasek participated in Svante Temasek also led the investment in Svante's round D financing of $100 million in March 2021.

In March 2023, Temasek followed Stripe $6.5 billion in Series I financing.

In June 2023, Temasek participated in GetYourGuide Temasek also participated in the financing round F of 85 million US dollars in May 2019 GetYourGuide 484 million dollars in round E financing.

In September 2023, Temasek exclusively participated in India Ola Electric Mobility $140 million in venture capital.

In September 2023, Temasek led the investment in sustainable battery material developers Ascend Elements 460 million USD round D financing.

In October 2023, Temasek participated in Electric Hydrogen Co.(EH2) $380 million in Series C financing.

In December 2023, Temasek Holdings led the investment Twin Health, Inc. 50 million USD round D financing.

Temasek Holdings Private Limited partial investment/shareholding

• China Construction Bank - 17878.67 million shares, 7.15% H shares
• Minsheng Bank - 10%, purchased with 400 million dollars
• Bank of China - 13.79%, a total of 10.48 billion shares, purchased at 1.52 billion US dollars on February 17, 2006
• Standard Chartered Bank - 19.11%, 369.5 million shares
• Barclays - 2.1%
• CITIC Resources - 11.47%, totaling 694 million shares.
• ICICI-7.28%， India's second largest commercial bank
• Fullerton Fund Management
• Fengshu Industry Private Limited
• Indonesia Bank Danamon-69.5% shares
• Indonesia International Bank (BII) - 56.9% shares
• Permata Bank Indonesia
• Yushan Financial Holding - 15%
• Shin Corp-96.12%
• Industrial and Commercial Bank of China 3.55 billion shares 5.3%
• Markit $500 million 10% equity
• Watsons - 24.9%

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