Temasek is accelerating its globally competitive Temasek Portfolio Companies rooted in Singapore, with a milestone stake sale of STT GDC for S$6.6 billion to KKR and Singtel signaling a major value realization while sharpening board renewal, AI transformation, sustainability, and investor communications.

Long-term performance remains resilient, with 20-year TSR at 6.8% and 10-year TSR at 7.1%; five-year TSR has been softer at 4.6% due to mid-2020s headwinds in China, though there has been a partial rebound since 2024.

Temasek’s portfolio remains diversified across three segments—TPCs, Global Direct Investments, and Partnerships/Asset Management—holding a stable 40-40-20 distribution that broadcasters expect to persist.

From 2026, Temasek shifts from book value to MTM valuation for unlisted investments, with roughly three-quarters of the portfolio now MTM-valued and about a quarter still to be marked to market since 2022.

Temasek reports a Net Portfolio Value of S$518 billion as of 31 March 2026, up from S$469 billion the previous year, marking significant decade-long growth.

One-year TSR stands at 10.5%, supported by gains from TPCs and key divestments, while a 2% NPV drag from Middle East events and a stronger Singapore dollar modestly tempered gains.

Temasek Partnership Solutions expands alternative assets exposure and co-investment capabilities, integrating Pavilion Capital into Seviora Group to broaden Asia-focused private equity and co-investment reach.

From April 2026, Temasek implemented a refreshed structure with wholly-owned entities—Temasek Singapore, Temasek Global Investments, and Temasek Partnership Solutions—coordinated by Temasek International to operate as OneTemasek.

Temasek’s AI strategy rests on four pillars: enablement across the group, portfolio AI-proofing, scaling exposure, and diffusing capabilities responsibly across ecosystems; AI exposure target raised to up to 15% by 2031 across energy/data centres, semiconductors, cloud, foundation models, and AI infrastructure, with governance and upskilling emphasized.

Temasek Global Investments targets a higher risk-return global portfolio with investments in Anthropic, OpenAI, Luckin Coffee, and Ermenegildo Zegna, aiming to concentrate capital in high-conviction opportunities and increase liquidity in listed exposures.

In the year ended 31 March 2026, Temasek invested S$51 billion and divested S$31 billion, resulting in a net input of S$20 billion.

Ten-year internal rate of return by segment stands at 8.1% for TPCs, 7.6% for GDIs, and 7.7% for PFAs, indicating durable, diversified performance across segments.