Following years of planning, groundwork, clear commitment to improve shareholder returns, plus a fair dose of luck from external events, companies such as DBS Group Holdings, Singapore Telecommunications (Singtel), Singapore Technologies Engineering (ST Engineering, the “stalwarts” of Temasek’s locally listed portfolio, have all outperformed the market in the past one year.
Government ‘start-ups’ have grown in the last 60 years to become economic stalwarts of today, but private heritage companies have played equally critical roles too
In recent years, Temasek has been in the news for its investments in overseas companies and start-ups. However, when Singapore’s state investment agency reported a record-high net portfolio value last month, it was its less talked about portfolio of local listed companies that were clearly shining, providing a fitting report card of sorts to mark Singapore’s 60th birthday.
