Against this backdrop, Singapore will have to find its own path forward, he said. This includes staying open and pushing for free flows of trade and investments through regional and multilateral forums.
“Importantly, as countries and companies everywhere look to diversify their exposures and widen their range of partners, we want Singapore to be their choice partner. We want to be a reliable and trusted node from which they can operate,” said Mr Wong.
Using a finance analogy where professionals are always looking for “alpha” or the extra edge that drives higher returns, Mr Wong said Singapore’s “greatest source of alpha” lies in its reputation for trust, integrity and reliability.
“These attributes are a unique source of competitive advantage … and it’s very hard for others to replicate. I believe what’s true for Singapore applies to Temasek,” he said.
Even as Temasek embarks on its next phase of transformation, these values – ranging from an adherence to exemplary standards and values, an ability to think long-term, grow with strategic discipline and to add to the Singapore brand of quality, reliability, discipline and integrity – “cannot and must not change”, said Mr Wong.
“These are the attributes for which Temasek is well-known for, and these are the attributes that will ensure Temasek will remain a valued and trusted long-term partner.”
In his speech, Mr Wong also touched on how Temasek “believes not only in doing well, but also doing right and doing good”.
“Balancing and realising all of these multiple objectives is never easy,” he said. “The ability of Temasek and its portfolio companies to realise its goals depends critically on its leadership and people.”
With that, he expressed his gratitude to all the directors who have and continue to serve on Temasek’s board.
Several of them were present at the anniversary dinner,