Temasek Holdings, the Singapore government’s investment arm, has set up
a S$500million ($330m, £163m) trust to boost Asian development.
Four per cent of the trust’s endowment funds will go to Temasek’s own
foundation, which supports Asian projects in healthcare, education,
cultural exchange and disaster relief.
Temasek, which manages a diversified S$129billion portfolio, one of
Asia’s biggest, has previously sponsored scholarships, supported
disaster relief, organized youth exchange programmes and funded
research through the Singapore Millennium Foundation, the Singapore
Technologies Endowment Programme and the Temasek Life Sciences
Laboratory, often with little public attention. These three non-profit
organizations will receive S$250m in a separate donation.
The new trust is welcoming gifts from third parties, but Temasek has said it will not solicit donations.
The Chinese, Japanese and Korean governments have announced they want to follow the Singapore example.
