Temasek Holdings
From Taighde
| Temasek Holdings | |
|---|---|
| |
| Country: | Singapore
|
| Chairman: | S Dhanabalan
|
| CEO: | Ho Ching
|
| Inception: | 1974
|
| Origin: | Non-commodity
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| Assets: | $60 billion
|
| Website: | http://www.temasekholdings.com.sg/
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| Reports | Sovereign Wealth Funds Contact and Information Report |
Temasek Holdings is a Sovereign Wealth Fund based in Singapore. Temasek has over $60 billion in assets and it is the 6th biggest SWF. It was created in 1974 with S$354 million
Although Temasek Holdings is accountable to its shareholder, the Singapore government, for overall performance, investment, business and commercial decisions are the responsibility of the Temasek Holdings board and management. However, Temasek does not consider itself a Sovereign Wealth Fund. According to a spokesman, "Temasek is not a sovereign wealth fund...Temasek has to sell assets to raise cash for new investments and doesn't require the government to give approvals.[1]"
Contents |
Management
Board of Directors
| S Dhanabalan | Chairman |
| Kwa Chong Seng | Deputy Chairman |
| Simon Israel | Executive Director |
| Ho Ching | Executive Director & CEO |
| Teo Ming Kian | Director |
| Koh Boon Hwee | Director |
| Goh Yew Lin | Director |
| Lim Siong Guan | Director |
| Kua Hong Pak | Director |
| Marcus Wallenberg | Director |
Directors
| Vijay Parekh | Senior Managing Director | Chief Operating Officer |
| Tow Heng Tan | Senior Managing Director | Chief Investment Officer |
| Png Chin Yee | Managing Director | Investments |
| Cheo Hock Kuan | Senior Managing Director | Organisation & Leadership |
| Leong Wai Leng | Senior Managing Director | Chief Financial Officer |
| Charles Ong | Senior Managing Director | Chief Strategist |
| Rohit Sipahimalani | Senior Managing Director | Investment, India |
| Gan Chee Yen | Senior Managing Director | Co-Chief investment officer |
| Hiew Yoon Khong | Senior Managing Director | Special Projects |
| Lena Chia Yue Joo | Managing Director | Legal & Regulations |
Former Employers
See full list of former Employees
| Frank Tang | Senior Managing Director for Investment, China | Left in November 2007 to start his own investment fund, FountainVest |
| Jimmy Phoon | Senior Managing Director and Chief Investment Officer | Left in September 2007 for personal reasons. |
Investments
By year
By sector
Oil & Gas · Basic Materials · Industrials · Consumer Goods · Health Care · Consumer Services · Telecommunications · Utilities · Financials · Technology
Capital Raising
Temasek had to raise investment capital in 2009 by selling bonds. Temasek held its first bond sale in four years on October 20, 2009. It sold $1.5 billion of 10 year bonds. Temasek had its second bond sale in November 2009, selling $500 million worth of 30 year bonds at a 5.441% rate. Speculation of a new large capital raising came up in January 2010. According to the Wall Street Journal, Temasek wants to raise capital by a bond sale in the range of $2 billion to 3 billion. [2] Another bond sale occurred in early February 2010 which raised $703.7 million (S$1 billion). The 10 year bond was offered at 40 basis points above Singapore dollar swap offered rate. The bond, which is rated tripe A, will yield 3.265%.
Temasek is rumored to be starting a new bond program in the latter half of 2011. [3]
| Date | Amount | Length | Coupon |
|---|---|---|---|
| November 2009 | S$500 million | 30 years | 5.441% |
| February 8, 2010 | $703.7 million (S$1 billion) | 10 year | 3.265% |
| March 5, 2010 | $357 million (S$500 million) | 15 year | 3.785% |
| March 5, 2010 | $357 million (S$500 million) | 25 year | 4.0475% |
| July 17 | £200 million[1] | 12 year | |
| July 17 | £500 million[1] | 30 year | |
| July 22, 2010 | $726 million (S$1 billion) | 40 year | 4.2% |
| October 2011 | $635 million (S$800 million) | 3 | 0% [1] |
| December 2011 | $467 million (S$600 million) | 0% [1] |
Euro Commercial Paper Programme
Temasek Holdings has a euro commercial paper programme. The programme allows Temasek to raise capital quickly. The paper or bonds would generally last no longer than 9 months and be priced in euros. The programme was announced in February 2011. [4][5]
Offices
Will open an office in Brazil during 2008.
Notes
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