Scribd
Upload
49 views2 pages

2022 Investor Factsheet - EN

Temasek is a Singapore-based global investment company that is wholly owned by the Singapore Ministry of Finance. It has a portfolio valued at S$403 billion as of March 2022, with 48% in liquid listed assets. Temasek has a stable credit profile with strong credit ratings and low debt levels. It has a well-distributed debt maturity profile with outstanding bonds totaling S$20.3 billion and a weighted average maturity of over 19 years. Temasek's top 10 investments make up 37% of its portfolio and include stakes in DBS Group Holdings, China Construction Bank, Alibaba Group, and Singapore Telecommunications.

Uploaded by

Ras Alt
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
49 views2 pages

2022 Investor Factsheet - EN

Temasek is a Singapore-based global investment company that is wholly owned by the Singapore Ministry of Finance. It has a portfolio valued at S$403 billion as of March 2022, with 48% in liquid listed assets. Temasek has a stable credit profile with strong credit ratings and low debt levels. It has a well-distributed debt maturity profile with outstanding bonds totaling S$20.3 billion and a weighted average maturity of over 19 years. Temasek's top 10 investments make up 37% of its portfolio and include stakes in DBS Group Holdings, China Construction Bank, Alibaba Group, and Singapore Telecommunications.

Uploaded by

Ras Alt
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

INVESTOR FACTSHEET

(For the financial year ended 31 Mar 2022)

ABOUT TEMASEK
▪ Singapore Headquartered Investment Company – 12 offices in eight countries across the world
(Singapore, Belgium, China, India, Mexico, United Kingdom, United States and Vietnam).
▪ Government Owned – Wholly-owned by the Singapore Minister for Finance1.
▪ Commercial Mandate – Owns and manages its own assets on a commercial basis to deliver sustainable value
over the long term. Investment, divestment and business decisions are directed by its Board and management.
▪ Professional Board & Management Team – Professional management team guided by its own Board,
comprising majority non-executive independent private sector business leaders.

CREDIT PROFILE
▪ Credit Strength2 – Overall corporate credit rating of Aaa (Stable) by Moody’s and AAA (Stable) by S&P.
For year ended 31 Mar 2022, total debt was 5% of net portfolio value, total debt was 19% of liquid assets 3 and
interest expense was 5% of dividend income.

Debt Issuance Programmes and Ratings


▪ Temasek Bonds increase Temasek’s financing flexibility and expand its stakeholder base to include both
international and Singapore bondholders.

Duration Programme Moody’s S&P


Long term US$25b Guaranteed Global Medium Term Note (MTN) Programme Aaa AAA
Long term S$5b Guaranteed MTN Programme Aaa AAA
Short term US$5b Euro-commercial Paper Programme P-1 A-1+
Note: The Singapore Government does not guarantee Temasek’s debt.
Credit Ratios2
Total Debt Total Debt Interest Expense
5% of Net Portfolio Value 19% of Liquid Assets3 5% of Dividend Income

19%
5% 5% 5% 12% 12% 3% 4% 5%

20 21 22 20 21 22 20 21 22

(As at or for year ended 31 Mar)

DEBT MATURITY PROFILE


▪ Well Distributed Debt Maturity
Profile – As at 31 Mar 2022, 23
MTN bonds outstanding4
totaling about S$20.3b
(US$15.0b5) with a weighted
5

average maturity of over 19


years, and S$1.5b (US$1.1b5)
Euro-commercial Paper
outstanding with a weighted
average maturity of above two
(As at 31 Mar 2022)
months.
1 The Minister for Finance, which is a body corporate constituted under the Singapore Minister for Finance (Incorporation) Act 1959.
2 Based on the financial information of Temasek as an investment company, namely Temasek Holdings (Private) Limited (THPL) and its investment
holding companies rather than the consolidated group of THPL and its subsidiaries.
3 Mainly cash and cash equivalents, and sub-20% listed assets.
4 Post-31 March 2022, Temasek redeemed £200 million of T2022-GBP Temasek Bond on 26 July 2022 and US$1.2 billion of T2023-USD Temasek Bond
on 23 January 2023. Additionally, Temasek issued €750 million of T2027-EUR and €750 million of T2033-EUR Temasek Bonds on 15 February 23.
5 Exchange rates as at 31 Mar 2022.
TEMASEK’S PORTFOLIO
▪ High Quality and Liquid Portfolio – Temasek’s portfolio provides a steady cash flow of dividends and distributions.
As at 31 Mar 2022, 48% of S$403b (US$297b5) portfolio was in liquid and listed assets.

4 5 2 5
12 8 23 3
27 28 7
9 By
14 By Currency
Geography6 By Sector6 52
By Liquidity of 49
(%) 15 (%) (%) Denomination
8 (%)
22 34
21 22
18 12

Singapore Financial Services Liquid & sub-20% listed Singapore dollars


China Transportation & Industrials assets7 US dollars
Americas Telecommunications, Listed large blocs Hong Kong dollars
Rest of Asia Media & Technology (≥20% and <50% share) Indian rupees
Europe, Middle East Consumer & Real Estate Listed large blocs British pounds sterling
& Africa Life Sciences & Agri-Food (≥50% share)
Others
Australia & New Zealand Multi-sector Funds Unlisted assets
Others (including Credit)
(As at 31 Mar 2022)

TOP 10 INVESTMENTS (37% OF S$403B PORTFOLIO)

Listed / Listed / Unlisted / Listed / Unlisted /


29% stake 51% stake 100% stake 55% stake 100% stake

TJ Holdings (III)
Pte. Ltd.8
Unlisted / Unlisted / Unlisted / Unlisted / Listed /
100% stake 100% stake 25% stake 100% stake 51% stake
(As at 31 Mar 2022)

INVESTMENTS AND DIVESTMENTS


▪ An Active Investor – Temasek invested S$61b and divested S$37b for year ended 31 Mar 2022.

5 Exchange rates as at 31 Mar 2022.


6 Distribution based on underlying assets.
7 Mainly cash and cash equivalents, and sub-20% listed assets.
8 TJ Holdings (III) Pte. Ltd owns a 100% equity interest in CLA Real Estate Holding Pte. Ltd., which in turn holds a 100% equity interest in CapitaLand Group
(“CLG”) following a restructuring exercise that was completed in September 2021. Prior to the restructuring, CLG was known as CapitaLand Limited. CLG has
a privately held property development arm, CapitaLand Development, and a 52% stake in CapitaLand Investment Limited (the real estate investment
management business of CLG, which is listed on the SGX-ST).

Temasek Holdings (Private) Limited


60B Orchard Road
#06-18 Tower 2
The Atrium@Orchard
Singapore 238891
www.temasek.com.sg Investor enquiries: [email protected]

You might also like