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Temasek’s 11 board directors reportedly visit India to “expedite” deployment of US$10b

India’s Moneycontrol reports that Temasek’s board is visiting India to implement Singapore’s plan of investing US$10 billion over three years, significantly boosting their annual investment.



India’s Moneycontrol financial portal reported on Wednesday (6 Dec) that the 11-member board of directors from Temasek is currently on an important visit to India.

Moneycontrol is part of the Network18 Group, an Indian media conglomerate owned by the energy giant Reliance Industries which is headed by billionaire Mukesh Ambani. The group operates a host of media entities including TV18 Broadcast, Network18 Publishing, Capital18, News18, CNBC India, Forbes India and so on.

According to Moneycontrol, the move by Temasek’s board is part of Singapore’s strategy to “strengthen connections and expedite the deployment of $10 billion” in India over the next 3 years.

Having consistently invested an average of US$1-$1.5 billion annually in India for the past 19 years, the company now aims to triple that amount, the report said.

“The entire Temasek board is on a 4-day trip to India and will spend time in Delhi and Mumbai this week. Meetings with industrialists, corporations and senior government officials are on the agenda,” Moneycontrol quoted a source as saying.

Since August 2013, Lim Boon Heng, a former People’s Action Party politician, has served as the Chairman of the Board of Directors of Temasek, while Dilhan Pillay Sandrasegara took on the role of CEO in October 2021.

Citing another source, the report said Temasek has recently undertaken significant transactions in India, which reflected India’s importance to Temasek. It said India is currently a focal point for Temasek, and the entire board’s exposure to local entrepreneurs and management teams is deemed advantageous.

The decision to have a physical presence on the ground is considered crucial, the report added. The visit will also include planned interactions with Temasek’s portfolio companies in India.

In April, Temasek executed the largest-ever private equity deal in the Indian healthcare sector, acquiring a majority stake in Manipal Hospitals, led by Ranjan Pai, for over US$2 billion.

Temasek’s investments in India include notable entities such as Ola, Zomato, Dr Agarwal’s Healthcare, Medica Superspeciality Hospital, Atomberg, UpGrad, HDFC Life, ICICI Prudential Life, Integrace, Curefit, and others.

According to Temasek’s website, the 11 current board members of Temasek are:

  1. Lim Boon Heng (Chairman) – Ex-Cabinet Minister and Ex-Secretary General of NTUC
  2. Cheng Wai Keung (Deputy Chairman) – Chairman and MD of Wing Tai Holdings, Chairman of Singapore Health
  3. Bobby Chin – Ex-Managing Partner of KPMG Singapore
  4. Fu Chengyu – Ex-Chairman of SINOPEC Group
  5. Jenny Lee – Managing Partner of GGV Capital
  6. Stephen Lee – MD of Great Malaysia Textile Investments, Chairman and MD of Shanghai Commercial & Savings Bank
  7. Lee Theng Kiat – Chairman of Temasek International, Singapore Telecommunications and NCS
  8. Dilhan Pillay Sandrasegara – Executive Director & CEO of Temasek
  9. Tan Chee Meng – Deputy Chairman of WongPartnership LLP
  10. Peter Voser – Chairman of ABB, Group Chairman of PSA International, Director of IBM Corp
  11. Jaime Zobel de Ayala – Chairman of Ayala Corp, Globe Telecom, Bank of the Philippine Islands and Ayala Land

Moneycontrol said it reached out to Temasek for comments but it has declined to do so.

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In India,China and Malaysia you only invest if you have excess in their currency as they will slide downwards against our dollar.Converting S$ to invest does not make sense.

they whoreship the country and the people so much,
even happily took the delta variant,
and shared it to us!

Last edited 2 months ago by wee

not as dumbs as investing in commie china only to be scammed like last time, but not much better.

isn’t it time we invested in cuntries that are NOT corrupted as fug?

Why the entire board of TH(none are truly experts in accessing Indian risks)and not the professional team of country managers has to be on the ground to ascertain where to dump another US$10billions of our reserves to patch up that “hole”. Really have to wish TH all the best!!

How much have we loss in India so far? There is no logic in putting more money in an money losing investment hoping to make money.

No wonder we see prices going up ! up ! up! and away . tsk tsk tsk

Are you telling us this:
70% Pineapple Lovers:
1) Increase GST
2) Increase PUB utilities
3) Increase COE, ERP
4) Increase Food Prices
5) Increase Housing prices
6) Increase Cost of Living
7) Increase Transport fares
8) Increase Hospital and Medical costs
9) Increase Foreigners intake, increase job losses
10) Increase Prices on Chicken, Eat Fish
11) Increase in Ageing population, collect carton boxes, a good form of
We need solutions not price increase!!!! What do you think?

Why still taking our Medisave when we continue working after age 60? What do you think?

I ask you all. To make money, what you do? Invest right? India is up and coming. Everyone knows that. Investing in India is the next best move. So, for those who kpkb here. Shut up! You don’t like what we are doing for Singapore, move out!

Recall earlier this year, at an economic meet in China, even Anwar/M’sia got limo service but Loong and his delegate got only bus transport. So our shining in CHN is probably past it peak already, better to move on to Vietnam, India(?), etc…

Another $10b of taxpayers monies to cover up past losses incurred?

If all the investments that have been made in the past are doing well, our costs should be going down. There wouldn’t be a necessity to increase GST .Anyway why bother to tell us about TH or the GICs. There is no Public Accounting like the Norway sovereign funds. It is treated like a personal kitty of LHL, HC and friends. Why bother reporting it?

My (strictly personal) opinion is similar to what John Doe implied. TH had parked LOTS of our money in CHN, but Chinese stocks has lost at least 20-30% to date; TH thus likely taking a big hit but very quiet. IND has been the star in 2023 and likely in the immediate 6-12 months. So TH is desperate to personally go por the ceca’s (with new funds from increasing GST?). Just in line with the PLP mentality of the pappies camp.

So … THAT’S where the “spare” GST cash from raising it to 8 and 9 percent is going … into a black hole.

Is there something array? Did Temasek lose money in India? If not, why everyone fly business class to India?

Let’s wait the outcome of this trip!

4 days..????
4 days…????

The deal is done… the 4 days is to have fun and food, drinks and sign documents.

Temasek is listed in the constitution as a 5th schedule company.
It is therefore untouchable and unaccountable.
and Magical.

Can make things appear and disappear…

Devoid of ideas – after banking on PRC now switch to India. What’s next?
Flawed thinking and more flawed thinking day in day out.
Ask them for industry upheavals, titanic investments rewards- NONE except ownself praise ownself, AND citizens DWINDLING CPF funds and returns, up in smoke.

Last edited 2 months ago by John Doe

Another $10 billions of our hard earned money down the Indian drain into the river ganges where it joins the carcasses and corpses of foregone years…..

There goes your Con Pee Fuck money, 55 can see but cannot touch…ALL…
At before 65 RIP ,did not even see a SINGLE CENT RETURN TO …YOU!!
All went to Modi and CECA villages and village head chiefs!😆😆😆😆!

Impatience excellence at its best, to mount a suicide in Indian soil. Then there’s the Ganges or Indus Rivers to slash their ashes.


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