Singapore

Temasek Holdings (“Temasek”) announced today that it had signed a definitive agreement to sell its entire stake of 78.4% in Changi International Airport Services Pte Ltd (“CIAS”) to Dnata, a member of the Emirates Group. This sale is part of Temasek’s continual review of its investment portfolio.

Said Ms Margaret Lui, Temasek’s Managing Director for Strategic Development – Global Investments: “We are pleased that Dnata has emerged as the successful bidder in this sale. With its strong and established presence in the ground handling, inflight catering and airport-related services industry in the Middle East, we are confident that Dnata is well-poised to take CIAS to its next level of growth. We look forward to seeing the continued success of CIAS under the Emirates Group in Singapore”.

His Highness Sheikh Ahmed bin Saeed Al-Maktoum, the Chairman of the Emirates Group commented: “We believe this is an excellent investment for Dnata. CIAS is a company with a solid reputation and superb potential – with experienced and well trained staff. There are many synergies between Dnata and CIAS and we look forward to helping to maintain Changi International Airport’s role as a major global hub”.

Dnata provides ground handling and cargo services at Dubai International Airport and is one of the largest travel organizations in the Middle East. It has 6,200 employees.

The sale is subject to the requisite government and regulatory approvals. Deutsche Bank was the financial advisor to Temasek Holdings.

About Temasek Holdings (Private) Limited

Temasek Holdings is an Asia investment company headquartered in Singapore. As an active shareholder and investor, it aims to maximise long-term shareholder value. Established in 1974, Temasek manages a diversified global portfolio, including investments in Singapore, India, Indonesia, Korea, Malaysia and the US. It has investments in a wide range of industries: transport and logistics, banking and financial services, telecoms and media, energy and resources, infrastructure and engineering, as well as pharma and biosciences. The market value of its listed companies on the Singapore Exchange is S$90 billion. Temasek-linked companies (TLCs) today include well known listed blue-chip brand names such as Singapore Airlines, SingTel, DBS Bank, SMRT Corporation, Neptune Orient Lines, Keppel Corporation and SembCorp Industries. Some of the unlisted TLCs include industrial groups such as Singapore Technologies, PSA Corporation and Singapore Power.

For more information, please visit: http://www.temasek.com.sg/

About Dnata

Established in 1959, Dnata has three very distinct business segments - Dnata Airport Operations, Dnata Cargo and Dnata Agencies.

Dnata has built up a solid reputation for quality in its 45 years of operation, continuously reinventing itself to meet new challenges of Dubai's fast-paced development.

Already a benchmark for quality services in the region, Dnata Airport Operations exports its ground handling expertise to airports in Qatar, Pakistan, the Philippines and Iran. Dnata Agencies, the retail and corporate travel services arm expanded operations into Kuwait and Saudi Arabia earlier this year. Dnata Cargo's recent innovations include the opening of a dedicated express handling centre, new capabilities for perishables handling, and an advanced cargo software that boosts efficiency and transparency for its operations in all terminals.

About Changi International Airport Services Pte Ltd

Changi International Airport Services (CIAS) Group is an integrated ground handling service provider at the Singapore Changi Airport. CIAS provides a comprehensive range of services at the Airport, which includes cargo handling, inflight catering, passenger and baggage handling, ramp handling and flight operations.

Besides Singapore, CIAS also operates ground handling services at the Guangzhou Baiyun International Airport.

For more information on CIAS, please visit www.cias.com.sg.

For media enquiries, please contact:

Rachel Lin
Associate Director, Corporate Communications
Temasek Holdings (Pte) Ltd
Tel: (65) 6828 6766
Mobile: (65) 96661855
Email: rachellin@temasek.com.sg

Serene Lee
Associate Director, Corporate Communications
Temasek Holdings (Pte) Ltd
Tel: (65) 6828 6765
Mobile: (65) 9692 0918
Email: serenelee@temasek.com.sg