For the FY2026 ended March 31, strong performances from the TPCs helped push Temasek’s net portfolio value (NPV) to a record $518 billion on a mark-to-market (MTM) basis. TPCs made up 43% of Temasek’s total portfolio at the year-end with a consolidated revenue of about $200 billion, up from last year’s 41% and aggregate revenue of some $150 billion.
Every portfolio needs dependable assets — ones that anchor it. For Temasek, that role falls to its Temasek Portfolio Companies (TPCs), a group of household names that includes CapitaLand Investment (CLI), DBS Group Holdings, Keppel, Sembcorp Industries, Singapore Airlines (SIA), Singapore Telecommunications (Singtel) and Singapore Technologies Engineering (ST Engineering). Temasek holds controlling stakes in other smaller but high-profile listed companies such as AEM Holdings and CSE Global.
“Our TPCs are stalwarts of our portfolio that deliver good and sustainable returns over the long term,” says Temasek in this year’s Temasek Review 2026.
