Our Portfolio
We are owners of our portfolio, working to deliver long-term sustainable returns and making a difference in what we do.
Current investments
Anchored in Asia, our S$389 billion portfolio has 64% underlying exposure to developed economies.
Net Portfolio Value of S$389 billion as at 31 March 2024.
Portfolio Highlights
(as at 31 March)
Net Portfolio Value of S$389 billion as at 31 March 2024.
Portfolio Highlights
(as at 31 March)
1 Distribution based on underlying assets.
Net Portfolio Value of S$389 billion as at 31 March 2024.
Portfolio Highlights
(as at 31 March)
1 Distribution based on underlying assets.
2 The Transportation & Industrials sector includes investments in Energy & Resources.
Net Portfolio Value of S$389 billion as at 31 March 2024.
Portfolio Highlights
(as at 31 March)
1 Mainly cash and cash equivalents, and sub-20% listed assets.
Net Portfolio Value of S$389 billion as at 31 March 2024.
Portfolio Highlights
(as at 31 March)
1 Distribution based on currency of denomination.
2 Less than 1%.
Net Portfolio Value of S$389 billion as at 31 March 2024.
Portfolio Highlights
(as at 31 March)
1 The increase in our Sustainable Living exposure is mainly due to a reclassification of selected portfolio companies as at 31 March 2024, to better reflect their alignment with the trend.
2 Less than 1%.
* Information not measured in previous years. We have been aligning our portfolio to structural trends since 2016.
Net Portfolio Value of S$389 billion as at 31 March 2024.
Portfolio Highlights
(as at 31 March)
1 Less than 1%.
Sources:
1. Financials for the companies are based on their respective annual filings.
2. Market relevant information is sourced from Bloomberg, Stock Exchanges, and public filings by companies.
Glossary
Market Capitalisation = Market value as at 31 March 2024 and 31 March 2023
Shareholder Equity = Shareholder equity reported by the respective companies based on their annual filings
| Logo | Name |
Shareholding2
(%) as at 31 March 2024 |
Currency |
Market Capitalisation or Shareholder Equity1 |
Sector | Headquarters | |
|---|---|---|---|---|---|---|---|
2024 |
2023 |
||||||
|
Adyen N.V. | 6 | EUR’m | 48,681 | 45,237 | Financial Services | Netherlands |
|
AIA Group Limited | 3 | HKD’m | 593,481 | 964,512 | Financial Services | Hong Kong SAR |
|
Alibaba Group Holding Limited | < 1 | USD’m | 176,097 | 261,836 | Telecommunications, Media & Technology | China |
|
AS Watson Holdings Limited3 | 25 | HKD’m | 37,176 | 33,555 | Consumer & Real Estate | Hong Kong SAR |
|
Bayer Aktiengesellschaft | 3 | EUR’m | 27,901 | 57,541* | Life Sciences & Agri-Food | Germany |
|
BlackRock, Inc. | 3 | USD’m | 124,021 | 100,304 | Financial Services | US |
|
CapitaLand Group Pte. Ltd. | 100# | SGD’m | 13,404 | 14,444 | Consumer & Real Estate | Singapore |
|
Celltrion, Inc. | 3 | KRW’b | 39,550 | 21,348 | Life Sciences & Agri-Food | South Korea |
|
DBS Group Holdings Ltd | 29 | SGD’m | 93,152 | 85,102 | Financial Services | Singapore |
|
EM Topco Limited (Element Materials Technology)4 | 88 | USD’m | 2,543 | 3,195* | Transportation & Industrials5 | UK |
|
Global Healthcare Exchange, LLC | 71## | NA6 | NA6 | NA6 | Telecommunications, Media & Technology | US |
|
HDFC Bank Limited | < 1 | INR’m | 10,999,567 | 8,980,875 | Financial Services | India |
|
ICICI Bank Limited | 2 | INR’m | 7,677,520 | 6,125,675 | Financial Services | India |
|
Industrial and Commercial Bank of China Limited | 1 | HKD’m | 1,887,947 | 1,736,141 | Financial Services | China |
|
Keppel Ltd.7 | 21 | SGD’m | 13,026 | 9,900 | Transportation & Industrials5 | Singapore |
|
M+S Pte. Ltd. | 40 | NA8 | NA8 | NA8 | Consumer & Real Estate | Singapore |
|
Mandai Park Holdings Pte. Ltd. | 100 | SGD’m | 1,049 | 779 | Consumer & Real Estate | Singapore |
|
Manipal Health Enterprises Private Limited | 35 | INR’m | 40,286 | 32,421 | Life Sciences & Agri-Food | India |
|
Mapletree Investments Pte Ltd | 100 | SGD’m | 18,979 | 19,908 | Consumer & Real Estate | Singapore |
|
Mastercard Incorporated | < 1 | USD’m | 445,067 | 342,114 | Financial Services | US |
|
Moncler S.p.A. | 4 | EUR’m | 18,721 | 17,162 | Consumer & Real Estate | Italy |
|
NSE India Limited | 5 | INR’m | 239,744 | 204,785 | Financial Services | India |
|
Olam Group Limited | 52 | SGD’m | 4,268 | 6,033 | Life Sciences & Agri-Food | Singapore |
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|
Ping An Insurance (Group) Company of China, Ltd. | 2 | HKD’m | 718,593 | 935,745 | Financial Services | China |
|
PSA International Pte Ltd | 100 | SGD’m | 15,050 | 14,317 | Transportation & Industrials5 | Singapore |
|
SATS Ltd. | 40 | SGD’m | 3,876 | 4,150 | Transportation & Industrials5 | Singapore |
|
Schneider Electric India Pvt. Ltd. | 35 | INR’m | 120,961 | 103,806 | Transportation & Industrials5 | India |
|
Seatrium Limited9 | 36 | SGD’m | 5,389 | 8,188 | Transportation & Industrials5 | Singapore |
|
Sembcorp Industries Ltd | 49 | SGD’m | 9,612 | 7,792 | Transportation & Industrials5 | Singapore |
|
Singapore Airlines Limited | 53 | SGD’m | 19,033 | 17,021 | Transportation & Industrials5 | Singapore |
|
Singapore Power Limited | 100 | SGD’m | 12,874 | 12,317 | Transportation & Industrials5 | Singapore |
|
Singapore Technologies Engineering Ltd | 51 | SGD’m | 12,542 | 11,413 | Transportation & Industrials5 | Singapore |
|
Singapore Technologies Telemedia Pte Ltd | 100 | SGD’m | 4,682 | 5,035 | Telecommunications, Media & Technology | Singapore |
|
Singapore Telecommunications Limited | 51 | SGD’m | 41,753 | 40,600 | Telecommunications, Media & Technology | Singapore |
|
SMRT Corporation Ltd | 100 | SGD’m | 1,010 | 972 | Transportation & Industrials5 | Singapore |
|
Standard Chartered PLC | 17 | GBP’m | 17,547 | 17,422 | Financial Services | UK |
|
Tencent Holdings Limited | < 1 | HKD’m | 2,869,391 | 3,689,755 | Telecommunications, Media & Technology | China |
|
Visa Inc. | < 1 | USD’m | 565,13710 | 468,28010 | Financial Services | US |
|
Zomato Limited | 4 | INR’m | 1,580,674 | 426,563 | Telecommunications, Media & Technology | India |
- For year ended September 2023/2022.
- For year ended December 2023/2022.
- For year ended March 2024/2023.
1 Market Capitalisation or Shareholder Equity: For listed companies, 2024 refers to market value as at 31 March 2024. For unlisted companies, 2024 refers to shareholder equity reported by respective companies based on their annual fillings as at 31 March 2024 or 31 December 2023, in accordance with their respective financial year ends. Similarly for 2023.
2 Percentages rounded to the nearest whole number.
3 AS Watson Holdings Limited was formerly known as A.S. Watson Holdings Limited with name change effective from 22 January 2024.
4 EM Topco Limited is the holding company for Element Materials Technology Group Limited.
5 The Transportation & Industrials sector includes investments in Energy & Resources.
6 Information not disclosed due to confidentiality obligations.
7 Keppel Ltd. was formerly known as Keppel Corporation Limited with name change effective from 1 January 2024.
8 Joint venture with Khazanah Nasional Berhad. Information not disclosed due to confidentiality obligations.
9 Following the combination of Sembcorp Marine Ltd and Keppel Offshore & Marine Ltd on 28 February 2023, Sembcorp Marine Ltd was renamed as Seatrium Limited with effect from 26 April 2023.
10 Based on number of shares of class A common stock on an as-converted basis.
* Restated or reclassified, which includes effects of changes to accounting standards and/or adjustments due to change in basis.
# Held through CLA Real Estate Holdings Pte. Ltd. (“CLA”), a wholly-owned subsidiary of TJ Holdings (III) Pte. Ltd.
## Comprises a 71% stake held through various holding companies.
