Temasek Review 2023
logo
Resilient & Forward Looking Portfolio

How We Grew

We grew with Singapore in our early years. In 2002, we stepped out to build a second wing of growth with a transforming Asia. We have since increased our exposure outside Asia to capture global opportunities in line with our structural trends.

Our developed markets exposure is now 64% of our portfolio and our growth markets exposure is 36% of our portfolio as compared to 58% and 42% respectively in 2013.

Our initial portfolio in 1974 reflected Singapore’s early stages of industrialisation. Some of these companies, and others added since, have grown into iconic Singapore brands, such as the Singapore Zoo. Others, like DBS and Singapore Airlines, have transformed into regional and global champions. As at 31 March 2023, 54% of our portfolio comprised companies headquartered in Singapore.

We focus on trends driven by technological advances that cater to demographic shifts and sustainability objectives, transforming business models, or shifting consumption patterns.

We continue to seek companies that create new opportunities through innovative and sometimes disruptive solutions.

As at 31 March 2023, our net portfolio value was S$382 billion.

Relation between Net Portfolio Value and Total Shareholder Return