Singapore state-owned investment firm Temasek has announced record returns of S$381 billion (US$283 billion) for the financial year ending March 2021, up 24.5% from the year before.
Fast facts
- According to its latest annual review, Temasek is “increasingly shaping” its portfolio in line with four trends: digitization, sustainable living, future of consumption, and longer lifespans. “The pandemic has accelerated some of the longer term trends that have been driving our investment focus — in particular, Digitisation and Sustainable Living,” the report said.
- Temasek had previously set up blockchain and artificial intelligence (AI) “pods” to explore the two technologies as part of building its capabilities to identify and lead investments in innovation.
- “After a year of incubation, our Blockchain pod founded LemmaTree, a group of blockchain companies that uses decentralised technologies to empower individuals and organisations to control their data,” said Temasek in the report.
- Affinidi, a LemmaTree company, has developed a digital identity platform being used by companies such as Singapore Airlines. The platform enables the verification of health credentials from other countries, including Covid-19 testing and vaccination status, via a mobile app. Affinidi has also developed two applications, Good Worker, a digital job matching platform, and Trustana, a B2B marketplace platform for facilitating cross-border trade.
- Earlier this year, Temasek announced that it was partnering with U.S. investment bank J.P. Morgan and Singapore’s DBS Bank to form a technology company to develop Partior, a blockchain-based platform, for cross-border payments and foreign-exchange settlement.
See related article: JPMorgan, DBS Bank and Temasek partner on ‘game-changer’ blockchain for payments