It began without any fanfare; just a familiar name quietly appearing on social media platforms, first Twitter – now X – then Facebook. Over time, YouTube, Instagram and TikTok ​were also ​added to the list.

“Temasek was no longer a small investment company that could fly under the radar, and social media was not something that could be ignored,” says Stephen Forshaw, then-Head of Public Affairs. “As the firm grew, more people were paying attention to us, so our communication strategy had to evolve. We decided to tell our story, in our own voice.”

It was the early 2010s, and few corporations had made the leap into social media. Of those who had, some had made more than a few digital stumbles, leaving a trail of awkward interactions and deleted posts in their wake. 

Despite this, Temasek remained convinced of both the potential and necessity to engage on social media. It offered a unique opportunity to speak directly to its audience – to tell them who Temasek was and how it pursued its objectives. When the challenge – dubbed Project Nike – was put to the team, they embraced the spirit embodied by the sportswear giant’s tagline to “Just Do It”, Stephen recalls. However, the team didn’t simply launch from the starting block. They opted for a thoughtful approach, testing ideas and building on what worked. 

“We focused on doing it well,” says Stephen. “We knew that once we started, there would be no turning back. We would have to continue populating our social media channels with a steady stream of content, and that content had to be interesting and informative.”

A high point came when its growing base of followers began not just commenting on, but sharing its content. “I remember the first time we got a share. There was a bit of excitement,” Stephen says. “It marked a shift. Our audience was beginning to respond, and even if they were sometimes provocative, they were engaged. To us, it was meaningful, because it was genuine.” 

Today, Temasek has over 250,000 followers on its social platforms.

“One thing Temasek has always been very good at is recognising ​quickly ​when things are changing,” he says. “The firm identifies trends and acts on them. That’s what we did here.” 

From ​reactive to proactive​

Stephen, a veteran communicator who had worked for brands like Singapore Airlines and Microsoft, joined Temasek in 2011. It was a time of massive change – the firm was rapidly growing, both in size and portfolio, and its focus had shifted from emerging Asia to the world.

However, beyond its role as an investor, little was known about Temasek, and that needed to change, he says.

“We had to make our narrative clear – who we were, what we did, and why. A lot of our media engagement was transaction-based, but there was so much more we could say about what we stood for as a forward-looking institution, and all we did for the communities we worked with as a trusted steward.”

Over the next few years, he built a digital newsroom within Temasek and grew its social media team, which soon included former journalists, visual storytellers, and marketing and analytics professionals. They shaped how Temasek spoke about itself, and worked closely with teams across the firm, from investment and technology to community stewardship and talent development, to develop content that was worth sharing. 

As Temasek built its social media presence, it also listened intently – engaging with those who commented, and responding when misinformation was spread. 

It was empowering – the firm had a chance to tell stories not just about doing well, but also about how it was doing right and doing good. By the time the 2018 Temasek Review (TR) was launched, it was “social first” rather than “social follows”, says Stephen.

“We had videos, photos, infographics, animations, and charts online, all of which helped to bring the Temasek story to life. We achieved more reach than we had ever had. Our audience was taken on a journey that allowed them to not just understand our financial results but the values we embodied and the mission we were driving towards. It was clearly making a difference to what people understood about Temasek.”

Temasek continues to make a concerted effort to take its audience behind the numbers of its annual disclosure exercise, explaining the thinking behind investments, discussing significant trends, and demonstrating the impact of Temasek’s community initiatives.

The power of connection 

By the time Stephen left the firm and moved to Australia in 2022, public communication had become a critical part of Temasek’s personality and the way it did business. 

“There will never be a shortage of critics, and criticism is something we should listen to and learn from,” he says. “However, we’ve created a channel that allows us to engage, ensuring that the public has a greater understanding of what Temasek does and can form its own views, and is reassured that even at the most challenging times, it will step up and support the community in ways that are distinctive and genuine.”

That was apparent in efforts made during crises like the ​​2014 haze and the COVID-19 pandemic, and in its purpose statement, So Every Generation Prospers, which Stephen helped crystallise between 2020 and 2021. 

“These four words embody what Temasek, as a firm, and all its people, stand for. They connect all three pillars of what the firm does into one overriding ambition. Prosperity is about more than just returns. It's about sustainability, community health, living standards, social cohesiveness, and leaving no one behind. It reinforces the notion that social prosperity is on par with financial prosperity. What Temasek does has real meaning, both financially and for communities.”

This is a story Stephen hopes Temasek will keep telling. 

“Demystifying an organisation like Temasek does not happen overnight. It takes constant engagement, strong storytelling and being open about what Temasek does. It’s a journey – and one I was really happy to be a part of.