“We were a bold and unprecedented experiment. There was no map to follow and hardly a compass to help guide our way, Yet, charting our own course, we survived and thrived,” he said in a speech delivered to more than 600 guests gathered at the hotel, including Prime Minister Lawrence Wong.
Mr Lim highlighted three key themes that serve as key attributes and principles in guiding Temasek’s development into a global investment company with a portfolio value of S$389 billion.
The first is resilience, which he described as the ability to recover and adapt quickly to change.
This can be seen, for example, from how the state investor has built “a resilient and forward-looking portfolio to withstand turbulent market cycles”.
Purpose is another theme, said Mr Lim, noting that Temasek is not a company that focuses only on its financial numbers.
Since 2003, it has been setting aside a portion of its net positive returns above its risk-adjusted cost of capital for community gifts that meet the objectives of connecting people, uplifting communities, protecting planet, and advancing capabilities.
“I am happy to say that to date, Temasek’s gifts to Temasek Trust have had an impact on about 3.7 million lives across Singapore and beyond,” said Mr Lim.