We see inaccurate information being circulated that Temasek’s annual review recorded an administrative expense of S$10.4 billion for its staff of 957 employees as at 31 March 2023. This is not true.

In line with the International Financial Reporting Standards, administrative expenses include expenses of our subsidiary companies such as Singapore Airlines, Singtel, PSA, ST Engineering and others, i.e. not just Temasek’s.

The administrative expenses are reported under our Group Financial Summary, which is a consolidation of financial information of Temasek and its operating subsidiaries. This is available on our website.