Singapore

Temasek Holdings is pleased to announce that it will set up two new non-profit philanthropic foundations in conjunction with the 45th anniversary of Singapore’s independence. Focused separately on nurturing talents in Singapore and on promoting international scholarship and fellowship, each foundation will oversee endowments named after Singapore’s pioneering leaders to recognise and honour their roles and contributions in nation building.

The Temasek International Foundation will promote regional scholarship and international fellowship. It will oversee the S$25 million S Rajaratnam Endowment for promoting international fellowship in ASEAN and beyond, and the S$35 million Hon Sui Sen Endowment. The Hon Sui Sen Endowment will develop future public service leaders in the financial industry in Singapore and Asia as well as foster fellowship and exchange among them.

The Temasek Education Foundation will focus on supporting education opportunities in Singapore, particularly to develop the next generation of pioneers and leaders. It will oversee the EW Barker Endowment to nurture young sporting talents, the Tay Eng Soon Endowment to advance progress in science and mathematics, and the David Marshall Endowment to cultivate talents in the arts. Each of these three endowments for education is supported by an endowment gift of S$35 million from Temasek.

Temasek’s Head of Strategic Relations, Mr Goh Yong Siang, said “As an active corporate citizen, Temasek is committed to supporting communities in Singapore and beyond. In particular, we believe it is important to help nurture the next generation who will ultimately become leaders and global citizens of tomorrow. The two new Foundations reflect our on-going commitment to support growth and development in our wider community, and give us the opportunity to honour the pioneer leaders of Singapore in their contribution to nation building as Singapore celebrates her 45th year of independence.”

A total of S$165 million will support the five new endowments under the Temasek International Foundation and the Temasek Education Foundation. These funds will be gifted to Temasek Trust, an independent trustee which oversees the management and disbursement of philanthropic endowments and community gifts.

With the latest endowment gifts, Temasek has gifted over S$800 million to Temasek Trust since 2007, to support various non-profit philanthropic organisations. These community gifts have been funded by a share of the positive wealth added that Temasek delivers whenever it achieves returns above its aggregate risk-adjusted hurdle.

Since inception, Temasek has committed over S$1 billion for community purposes in Singapore and elsewhere in Asia and beyond.

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Temasek’s New Non-Profit Philanthropic Platforms

About the Temasek International Foundation

The Temasek International Foundation or TIF aims to promote and advance regional scholarship and international fellowship and exchange. It will oversee the S Rajaratnam Endowment and the Hon Sui Sen Endowment.

About the S Rajaratnam Endowment

The S$25 million S Rajaratnam Endowment will focus on sponsoring and facilitating exchange and fellowship programmes aimed at deepening international friendship within the community of nations.

A Sri Lankan born founding father of Singapore, Mr Sinnathamby Rajaratnam was a prolific writer and thinker who championed Singapore’s independence from colonial rule in his early career as a journalist. Famously outspoken, Mr Rajaratnam was unfazed by his critics and opponents, some of whom tried to intimidate him into silence by setting his table on fire in his office. He joined politics in 1959 and helped shape the development and values of Singapore. Mr Rajaratnam was Singapore’s first Minister for Foreign Affairs from 1965 to 1980, with a concurrent appointment as Minister for Labour from 1968 to 1971, where he implemented labour laws which helped lay the foundation for industrial peace and tripartism between labour, employers and government. He was later Second Deputy Prime Minister (Foreign Affairs) from 1980 to 1985 and Senior Minister, Prime Minister’s Office from 1985 to 1988 before he retired from politics. Mr Rajaratnam believed fervently in a united and multi-racial society - he crafted the Singapore National Pledge to reflect these core values, which underpinned Singapore’s commitment to meritocracy and communal harmony regardless of race, language or religion.

A self-described “public relations man”, Mr Rajaratnam built the Singapore foreign affairs service to project the Republic’s image to the world, and established Singapore as an active member of the United Nations. Closer to home, Mr Rajaratnam worked actively with fellow foreign ministers in the region to formulate and form ASEAN as the platform for regional friendship and co-operation.

About the Hon Sui Sen Endowment

The S$35 million Hon Sui Sen Endowment will focus on developing talented individuals in the financial industry in Asia. This will include policy makers, central bankers, market regulators and financial professionals in public service, and create opportunities for them to share learning and experiences in a rapidly evolving Asia.

A quiet, humble and modest Penang born Hakka who preferred to work in the background, Mr Hon Sui Sen was pivotal in the formulation and implementation of Singapore’s national economic development strategy. He was the first chairman of the Economic Development Board or EDB from 1961 to 1968, and then Chairman and President of the Development Bank of Singapore, now DBS, between 1968 and 1970, where he strongly supported the development of the Asian Dollar Market, and finally Singapore’s Minister for Finance from 1970 to 1983. As Minister for Finance, Mr Hon held the view that Temasek should develop the capability to also be an active investor of successful companies overseas. As EDB’s chairman, Mr Hon oversaw the transformation of the Jurong swamps into a thriving centrepiece of Singapore manufacturing for multinational and local companies. He also set up many other companies as part of the conversion and commercialisation of British military bases in the late 1960s. Several of these are now successful enterprises in the stable of Temasek-linked companies.

As Finance Minister, Mr Hon laid the foundation for Singapore’s tourism industry, including the transformation of a southern island into Sentosa Island, which today houses one of the two Integrated Resorts in Singapore. He was named the Economic Minister of the Year in 1982 by Euromoney magazine.

About the Temasek Education Foundation

The Temasek Education Foundation or TEF supports education opportunities, particularly to develop the next generation of pioneers and leaders. TEF will oversee the EW Barker Endowment, the Tay Eng Soon Endowment, and the David Marshall Endowment.

About the EW Barker Endowment

The S$35 million EW Barker Endowment will focus on seeking to nurture talented Singaporeans and Asians aspiring to be athletes, coaches, therapists and specialists through scholarships in sports development, academic studies and related programmes.

Mr Edmund William (“Eddie”) Barker, a statesman, scholar, sportsman and supporter of sports, entered politics and became the Speaker of Singapore’s Legislative Assembly in 1963, and was Singapore’s Law Minister from 1964 to 1988. One of the longest serving Law Ministers in the Commonwealth, Mr Barker drafted the Proclamation of Singapore that announced the separation of Singapore from Malaysia on 9 August 1965. In his 25 years of service to the nation, Mr Barker was a strong promoter of sound governance, and held a range of ministerial duties in addition to being Minister for Law. He was Minister for National Development from 1965 to 1975, Minister for Home Affairs in 1972, Minister for the Environment from 1975 to 1979, Minister for Science and Technology from 1977 to 1981, and Minister for Labour in 1983.

A Queen’s Scholar and a top athlete during his student years, Mr Barker was a strong promoter of sports and served as the President of the Singapore National Olympic Council for two decades. Mr Barker is widely remembered as the driving force behind the construction of the National Stadium in Kallang, persuading the government to allocate the land and financial resources required for the iconic structure.

About the Tay Eng Soon Endowment

The S$35 million Tay Eng Soon Endowment will focus on the advancement of young individuals gifted in the field of science and mathematics.

A rational man who believed passionately in well rounded education, Dr Tay Eng Soon had a life long interest in inspiring and encouraging young students to take an interest in science. Dr Tay entered politics in 1980 as Member of Parliament for River Valley and represented the constituency until 1984. He was Singapore’s Minister of State (Education) from 1981 to 1988, Minister of State (Ministry of Information and Arts) from 1985 to 1986, and Senior Minister of State (Education) from 1988 to 1993. A pioneer in shaping the science and technical education system in Singapore, Dr Tay moulded the foundation of technical and polytechnic education, and laid the foundation for the development of polytechnics which are widely recognized today as best-in-class institutions. During his term, Dr Tay established Singapore’s fourth polytechnic, Nanyang Polytechnic, and the Singapore Open University Degree Programme. His interests ranged from promoting swimming and outdoor activities for school students to identifying and training school principals with potential. A university lecturer trained in nuclear physics in his early career, Dr Tay was tapped in 1971 by Dr Goh Keng Swee, then Minister of Defence, to head Project Magpie, a secret project to develop Singapore’s defence technology capabilities. The unit was later renamed Defence Science Organisation, now known as DSO National Laboratories, which Dr Tay continued to head till he joined politics in 1980.

Students in the 1970s may remember him as the “original” quizmaster of the Science and Industry Quizzes organised by Radio & Television of Singapore (RTS), the forerunner of Mediacorp, which helped to promote interest in science and technical education among students in the early years of industrialisation in Singapore.

About the David Marshall Endowment

The S$35 million David Marshall Endowment will aim to cultivate talented students with the passion and gift for the arts.

Born in Singapore into an orthodox Jewish family of Iraqi ancestry (“I am both a Jew and an Asian”), Mr David Saul Marshall became Singapore's first elected Chief Minister in 1955. During his term, Mr Marshall led the early efforts to win self-government for Singapore, while dealing with crises such as the Hock Lee bus riots and strikes. He was also instrumental in passing the Labor Ordinance in 1955 to end long work shifts and quell labor unrest. A highly successful criminal lawyer known for his magnificent eloquence and commanding presence, Mr Marshall’s headline-grabbing trials were chronicled in a best-selling book “The David Marshall Trials” in 1981. A charismatic orator with a strong sense of social justice and compassion, Mr Marshall furthered Singapore's interests even after retiring from politics in 1963, serving as Ambassador to France, Spain, Portugal and Switzerland between 1978 and 1993. Mr Marshall also served as a member of the Presidential Council in 1970, helping ensure that Bills passed by the Parliament did not discriminate against any community in Singapore

A passionate nationalist throughout his life, Mr Marshall was taken prisoner as a volunteer with the Singapore Volunteer Corps soon after the fall of Singapore in 1942, and sent to work in the coal mines of Hokkaido in northern Japan, before being freed in 1945. His resilience and zest for life is best epitomised during his later years as an ambassador, when Mr Marshall became known as the “Ambassadeur a orchidee” or ambassador with an orchid, as he wore an orchid to every official function.

Temasek’s Existing Non-Profit Philanthropic Platforms

About Temasek Trust

Temasek Trust was established by Temasek in 2007 to independently oversee the management and disbursement of endowments and community gifts. As an additional stakeholder, the Trust tracks the performance of Temasek as it benefits from the continued success of Temasek.

Governed by a distinguished board of trustees comprising Chairman Lee Seng Wee and Richard Hu from Singapore, and Ratan Tata from India, the Trust has the mandate to fund the following non-profit philanthropic organisations:

• Singapore Technologies Endowment Programme
• Singapore Millennium Foundation
• Temasek Life Sciences Laboratory
• Temasek Foundation
• Temasek Cares
• Temasek Education Foundation (new)
• Temasek International Foundation (new)

About Singapore Technologies Endowment Program

The Singapore Technologies Endowment Program or STEP is a philanthropic initiative set up in 1997 by Singapore Technologies Pte Ltd (STPL) to commemorate its 30th anniversary. STEP aims to provide opportunities for youths from Singapore, ASEAN and Asia to share experiences, form friendships, learn together and build ties as the future torch-bearers and leaders of Asia. With the re-structuring of STPL, Temasek Holdings assumed responsibility for STEP in 2005.

More than 1,500 youths have participated in its signature Sunburst Youth Camp over the last 12 years. Into its second year, STEP’s Sunburst Scholarships supports 15 scholars from Indonesia, Malaysia, Sri Lanka, Singapore and Vietnam in their undergraduate studies in universities and polytechnics in Singapore.

Visit http://www.step.com.sg for more information.

About Singapore Millennium Foundation

Established in 2002, Singapore Millennium Foundation or SMF is an Institution of a Public Character and a non-profit charitable organisation set up to promote and advance scientific progress in Singapore through scholarships and funding of research programmes.

In 2009, 12 scholarships were awarded for research in diverse fields such as engineering, environmental sciences, renewable resources and water, life sciences, and physical and material sciences. A total of 215 scholarships have been awarded since 2002 for 62 Singaporeans and 153 non-Singaporeans in Singapore. Some of the programmes supported by SMF include research on Parkinson’s disease with the National Neuroscience Institute, liver cancer research at the National Cancer Centre Singapore and mental health research at the Institute of Mental Healh.

Visit http://www.smf-scholar.org for more information.

About Temasek Life Sciences Laboratory

Temasek Life Sciences Laboratory or TLL is a non-profit organisation established in 2002 to undertake cutting edge research in molecular biology and genetics utilising a broad range of model organisms.

Affiliated to the National University of Singapore and the Nanyang Technological University, TLL supports about 220 researchers from 24 countries. Since inception, TLL has filed more than 200 patent applications and published more than 400 papers in peer-reviewed journals, more than 25% of which are in high impact research journals like Nature. To date, TLL has supported 68 PhD students and provided attachment opportunities for 769 students under its REsearch Attachment Program (REAP). Working with a TLL research team, REAP ’08 participant Aw Sze Jet, a student from Anglo-Chinese School (Independent), subsequently led the authorship of a scientific paper published in Nature

Visit http://www.tll.org.sg for more information.

About Temasek Foundation

Temasek Foundation or TF is a non-profit philanthropic organisation anchored in Singapore that seeks to contribute to sustainable growth and a bright future of hope and opportunities for people in Asia.

The foundation works with partners to support programmes that develop people through health care, education and research, programmes that build bridges between peoples, programmes that build institutions of excellence through good governance and ethics, and programmes that rebuild lives and livelihoods affected by natural disasters

In 2009, TF committed close to S$20 million to 35 programmes in 11 countries, with an emphasis on building expertise in vocational education and health care, strengthening regulatory frameworks and enhancing public management capabilities. Since inception in May 2007, TF has committed S$53 million for 81 programmes in 13 countries.

Visit http://www.temasekfoundation.org.sg for more information.

About Temasek Cares

Temasek Cares CLG Ltd is an Institution of a Public Character set up in 2009 to commemorate the 35th anniversary of Temasek Holdings. This was supported by an initial endowment of S$100 million to Temasek Trust. Temasek Cares aims to contribute to the well-being, dignity and livelihood of the underprivileged in Singapore through education, financial aid for the needy and families in crisis, and integrated community programmes

In its first year, Temasek Cares sought to fill gaps in existing social and welfare programmes, through initiatives such as the Temasek Cares Bursary to support promising students from the Institute of Technical Education, and Project SPARK to help single-parent families.

Visit http://www.temasekcares.org.sg for more information.

Temasek’s Staff Volunteers

About T-Touch

Formed in 2001, T-Touch is a Temasek staff initiative to give of their time and effort to the community.

Community donations disbursed through T-Touch are raised by Temasek employees, with dollar-for-dollar matching from Temasek Holdings. Notable among T-Touch initiatives was its support of the families of two Police Coast Guards who had been killed in action in 2007. A T-Touch team also helped to structure the S$600,000 raised as 20-year annuity programmes to support the widows and young children till the children come of age. T-Touch has also actively supported several other local charities, including Singapore Leprosy Relief Association, the Yellow Ribbon Project, Special Olympics (Singapore), Make-A-Wish Foundation, MINDS and Students Care Service, among others.

T-Touch activities also extend to all Temasek's International Offices, and activities supported include home building projects in Mexico, childcare centres for sick children in India, vision outreach programmes in Brazil, public rural schools in China and disaster relief efforts in Vietnam.

The highlight of the T-Touch calendar is its annual Temasek Community Day, celebrated on Temasek’s anniversary on 25th June each year. Staff of Temasek in Singapore and our international offices devote the day to various community initiatives in Singapore and around the world.

For further information on Temasek, please visit www.temasek.com.sg

For more information on how Temasek engages our communities in Singapore and Asia, please visit http://www.temasekreport.com/2010

For media enquiries, please contact:

Serena Khoo
Director, Corporate Affairs
Temasek Holdings (Private) Limited
DID: (65) 6828-6509
Email: serenakhoo@temasek.com.sg

Jeffrey Fang
Senior Associate, Corporate Affairs
Temasek Holdings (Private) Limited
DID: (65) 6828-6857
Email: jeffreyfang@temasek.com.sg