“As a long-term investor seeking to deliver sustainable returns, we have had to navigate volatility and uncertainty over the years. But the environment we are in today is the most complex that we have seen in five decades,” he adds.
Geopolitics and disrupted supply chains have dominated headlines as countries grapple with new power dynamics. Even so, financial markets have reached new highs, and along with this, Temasek Holdings has chalked up another record year for its portfolio, thanks largely to another strong year from its Singapore-based portfolio companies and realised gains from divestments.
“We're not simply in a ‘Vuca’ world; we're in a polycrisis world,” says CEO Dilhan Pillay. For him, Vuca, which refers to volatility, uncertainty, complexity and ambiguity, is nothing new.
