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Temasek Holdings sets up development fund

July 2007

Temasek Holdings, the Singapore government’s investment arm, has set up a S$500million ($330m, £163m) trust to boost Asian development.

Four per cent of the trust’s endowment funds will go to Temasek’s own foundation, which supports Asian projects in healthcare, education, cultural exchange and disaster relief.

Temasek, which manages a diversified S$129billion portfolio, one of Asia’s biggest, has previously sponsored scholarships, supported disaster relief, organized youth exchange programmes and funded research through the Singapore Millennium Foundation, the Singapore Technologies Endowment Programme and the Temasek Life Sciences Laboratory, often with little public attention. These three non-profit organizations will receive S$250m in a separate donation.

The new trust is welcoming gifts from third parties, but Temasek has said it will not solicit donations.

The Chinese, Japanese and Korean governments have announced they want to follow the Singapore example.



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