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Temasek Holdings

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Temasek Holdings
Country: Singapore

Chairman: S Dhanabalan

CEO: Ho Ching


Inception: 1974

Origin: Non-commodity


Assets: $60 billion

Website: http://www.temasekholdings.com.sg/

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

See Temasek's contacts

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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