45-628: UEM Group Berhad (UEM Group) is an investment holding company and a wholly-owned subsidiary of Khazanah Nasional Berhad. Its core businesses are Expressways (PLUS Malaysia Berhad), Township & Property Development (UEM Sunrise Berhad), Engineering & Construction (UEM Builders Berhad and Cement Industries of Malaysia Berhad or CIMA), Asset & Facility Management (UEM Edgenta Berhad) and Green Industries (UEM Lestra Berhad). UEM Group has assets of more than US$ 5 billion (RM22.1 billion), with shareholders' funds standing in excess of US$ 2.1 billion (RM9.2 billion) as at end of December 2022. The company
90-540: A $ 100 million financing round for Animoca Brands . In April 2023, Temasek announced that it would acquire an additional 41 per cent stake in Bengaluru-based Manipal Health Enterprises (MHE), resulting in a total stake of 59 per cent. In June 2024, Temasek was finalizing its sale of some assets from liquefied natural gas (LNG) trading company Pavilion Energy to Shell, with the deal worth hundreds of millions of US dollars. As
135-500: A 2016 forum, Azman Mokhtar, former Khazanah's Managing Director, said Khazanah had the continuation of a pro-growth and pro-society focus in the 2017 Malaysian Budget, with companies of various sectors under its portfolio remained to be the nation's growth engines. Former Prime Minister and Khazanah chairman, Ismail Sabri Yaakob in the fund's 2021 report, said that Khazanah is in a perfect position to embarked on its Advancing Malaysia initiative. He noted that Khazanah's ability to overcome
180-690: A 3.9 per cent stake in BlackRock Inc , worth about US$ 3.5 billion, becoming one of its largest shareholders. According to people familiar with the matter, Temasek was one of several players that bought the money manager's shares when PNC Financial Services Group Inc. sold a US$ 14 billion stake earlier in the year. In November 2020 Temasek with Creadev led a EUR140 million series C financing of French biotechnology company InnovaFeed . In 2021, Temasek invested in cryptocurrency exchange FTX . Following FTX's collapse in November 2022, Temasek wrote down
225-598: A combined RM47 million in entrepreneur Vivy Yusof 's fashion e-commerce platform, FashionValet in March 2018. Khazanah contributed about RM27 million while PNB gave RM20 million to acquire minority stakes of the company. In July 2019, they targeted to expanding its investment exposure in the United States and looking to invest primarily in technology firms utilising data analytics. In 2021, Khazanah allocates RM6 billion investments through its Dana Impak. The allocation
270-964: A member of the FCLT Global (Focusing Capital on the Long Term), and signatory of the Malaysian Anti-Corruption Commission 's (MACC) Corporate Integrity Pledge. It is owned by the Malaysian government and administered by the Minister of Finance Incorporated , except for one share held by the Federal Land Commissioner. It is governed by a board of directors comprising representatives from the Government and the corporate sector with diverse professional backgrounds and expertise. In October 2023,
315-696: A private company, it was not legally obliged to do so). At the point of Singapore's independence in August 1965, the Government of Singapore had ownership or joint ownership of various local companies, such as Malaysia-Singapore Airlines (later split up into Malaysia Airlines and Singapore Airlines ) and the Singapore Telephone Board (which became Singapore Telecommunications ). As part of its push for local and foreign private investment in sectors such as manufacturing and shipbuilding,
360-629: A professional management team. Its sole shareholder is the Singapore Minister for Finance. Temasek is designated a Fifth Schedule entity under the Constitution of Singapore , which imposes certain safeguards to protect the government's past reserves . For instance, the approval of the President of Singapore is required for any transaction which is likely to result in a draw-down of Temasek's cash reserves . The president also has
405-401: A statutory board, rather it is a national institution that served as a trustee that manages government-owned commercial assets and also investing in multiple high-tech and strategic sectors. Unlike any other investment company, Khazanah does not sell its investments and assets to Bank Negara Malaysia , but rather assuming the functions of managing billions of ringgit worths of assets owned by
450-578: A total publicly known AUM of approximately US$ 1.64 trillion. Temasek is a company incorporated in Singapore, and operates under the provisions of the Singapore Companies Act. It is neither a government agency nor a statutory board . Like any other commercial company, Temasek pays taxes that contributes to government revenue in the countries it operates in, distributes dividends to its shareholder and has its own board of directors and
495-400: A transformation program and a guideline for the government-owned companies. In 2018, the Government of Malaysia initiated a corporate restructuring and reorganisation of Khazanah, which involved leadership changes, a refresh of its mandate and objectives, and a review and revaluation of its investments. In April 2020, Khazanah announced it was contributing RM20 million in total to support
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#1732772406043540-563: Is a Singaporean state-owned multinational investment firm. Incorporated on 25 June 1974, Temasek has a net portfolio of US$ 288 billion (S$ 389 billion) as of 2024, with S$ 33 billion divested and S$ 26 billion invested during the year. Headquartered at Orchard Road , Singapore, it has 13 offices in 9 countries around the world, including in Beijing , Brussels , Hanoi , London , Mexico City , Mumbai , New York City , Paris , San Francisco , Shanghai , Shenzhen and Washington D.C. It
585-783: Is a member of the International Forum of Sovereign Wealth Funds (IFSWF), which maintains and promotes the Santiago Principles on best practices in managing sovereign wealth funds. It is also a signatory of the United Nations -supported Principles for Responsible Investment (UNPRI), signatory of the Malaysian Code for Institutional Investors and a member of the Institutional Investor Council Malaysia (IIC),
630-630: Is an active shareholder and investor, with four key structural trends guiding its long term portfolio construction—Digitisation, Sustainable Living, Future of Consumption, and Longer Lifespans. Temasek's portfolio covers a broad spectrum of sectors. Its key focus investment areas include Consumer, Media & Technology, Life Sciences & Agri-Food, and Non-Bank Financial Services. Temasek has held overall corporate global credit ratings of “Aaa/AAA” by rating agencies Moody's and Standard & Poor's respectively since its inaugural credit ratings in 2004. It has also attained perfect quarterly scores on
675-672: Is the sovereign wealth fund of the Government of Malaysia . One of the largest sovereign wealth funds in the world, it was established to invest surplus revenues for Malaysia. Through its investments and activities, the fund seeks to deliver sustainable economic and societal benefit for the nation. This includes achieving long-term risk-adjusted returns across the portfolio, as well as undertaking investments that catalyse new growth areas, strengthen Malaysia’s economic competitiveness, and contribute to priority socioeconomic outcomes. Headquartered in Kuala Lumpur, it has regional offices in
720-610: The Ministry of Trade and Industry to focus on policymaking. In February 2020, Temasek announced a company-wide wage freeze and voluntary pay cuts for senior management in part to help fund community programs aimed at alleviating the impact of COVID-19 . On 1 October 2021, Dilhan Pillay Sandrasegara , the current chief executive officer of Temasek International (TI), succeeded Ho Ching as executive director and chief executive officer of Temasek Holdings. Temasek's initial portfolio of S$ 354 million comprised shares previously held by
765-489: The Singapore Armed Forces ), and the shipping company Neptune Orient Lines . On 25 June 1974, Temasek was incorporated under the Singapore Companies Act to hold and manage the assets previously held directly by the Singapore government, named for an early settlement on the island . The goal was for Temasek to own and manage these investments on a commercial basis, allowing the Ministry of Finance and
810-600: The Federal Government. Modelled after the Singaporean sovereign wealth fund, Temasek Holdings , Khazanah also has its own board of directors and a professional management team. The Prime Minister of Malaysia, who serves as a Khazanah chairman, have the rights to determine the Khazanah's direction, including to appoint and retaining the members of Khazanah's board of directors and existing managements. In
855-586: The KL20 Summit 2024 in April 2024 that the fund will launch a national "fund-of-funds" to support Malaysian companies with an initial allocation of RM1 billion. In its sustainability framework that launched in 10 June 2022, Khazanah have set a target of achieving carbon neutral operations by the end of 2023. Another environmental sustainability target is also to aim for net zero emissions by 2050. Temasek (company) Temasek Holdings (Private) Limited
900-674: The Linaburg-Maduell Transparency Index, a measure of the openness of government-owned investment funds. Temasek is primarily anchored in Asia, but with a global portfolio, with a 64% underlying exposure to developed economies. While Temasek is largely considered as being a sovereign wealth fund (SWF), there are major differences as it invests mostly in equities, is the outright owner of many assets and companies, and pays taxes like other commercial investment firms. Temasek's one-year total shareholder return (TSR)
945-768: The Malaysia Capital Venture Management (MAVCAP) and Penjana Kapital on 30 July 2024. The acquisition and integration of MAVCAP and Penjana Kapital in which Khazanah managing director, Amirul Feisal Wan Zahir said that it "would further strengthen Malaysia's VC ecosystem". Khazanah pursues its overall mandate through its 4 investment structures which consists of Investments portfolio, the Dana Impak portfolio, developmental assets and special situations. In 1995, Khazanah acquire 40% of majority stake in Putrajaya Holdings to undertake
SECTION 20
#1732772406043990-591: The Singapore Government, including a bird park , a hotel, a shoemaker, a detergent producer, naval yards converted into a ship repair business, a start-up airline, and an iron and steel mill. Temasek's 2006 acquisition of Shin Corporation , owned by the family of then Thai prime minister Thaksin Shinawatra , was particularly controversial, with protestors burning effigies of Lee and Ho on
1035-723: The Turkish healthcare insurance company, Acibadem Saglik ve Hayat Sigorta for US$ 252 million. In August 2014, Khazanah announced its intention to purchase the remaining ownership of Malaysia Airlines from minority shareholders and delist the airline from Malaysia's stock exchange, thereby renationalising the airline. The fund through its special purpose vehicle, Bukit Galla Investments, has invested in Chinese mobile lending and credit analytics platform, WeLab in January 2016. Khazanah and Permodalan Nasional Berhad (PNB) had invested
1080-410: The United States, Turkey, China, United Kingdom and India. Khazanah's portfolio covers a broad spectrum of sectors. Its key focus investment areas include Leisure & Tourism, Banking, Sustainable Development, Healthcare and Consumerism. While it does not receive regular capital infusions, Khazanah relies on its ability to generate returns and tapping capital markets to fund its investments. Khazanah
1125-616: The development of Northern Corridor Economic Region . Khazanah, together with the Dubai Banking Group and Asia Capital Reinsurance (ACR), has established a joint-venture company, ACR ReTakaful Holdings in May 2008 with a capital base of US$ 300 million. In 2008, Khazanah invested in Biotropics Malaysia Berhad to spearhead the development of Malaysian traditional herbs including Tongkat Ali. 2011 saw
1170-462: The development of Putrajaya . In 1996, the fund formed a joint venture with Bank Industri Berhad and Wafer Technology to develop local expertise in wafer fabrication, which is a core area in the Malaysian semiconductor industry. In September the same year, Khazanah, through its agreement deal with Usaha Tegas , announced it has acquired 15 per cent of Measat Broadcast Network Systems Sdn. Bhd. ,
1215-432: The equities of several banks, including RHB Bank and Maybank . In May 2000, Khazanah invested 30% of stake in telecommunications company, TIME dotCom Berhad for investors. In 2001, Khazanah through its wholly-owned subsidiary, Syarikat Danasaham acquire UEM Group for RM3.8 billion. The acquisition aims to recover UEM and heavily-indebted Renong. In 2007, Khazanah began its Northern Corridor initiative to spearhead
1260-861: The establishment of M+S Pte. Ltd., a joint-venture between Khazanah and Singaporean investment holding arm, Temasek Holdings . The joint investments saw both Khazanah and Temasek undertaking projects in Iskandar Malaysia and Singapore. Khazanah owns 60% of the joint-venture company while Temasek owns the remaining 40%. In October 2011, Khazanah issues the first Renminbi sukuk, which is the world's first Renminbi offshore sukuk. In August 2012, Khazanah's wholly-owned subsidiary, Themed Attractions and Resorts invests in Puteri Harbour Family Theme Park for RM115 million. In July 2013, Khazanah through its insurance arm, Avicennia Capital reached an agreement to acquire 90% stake in
1305-538: The fund has US$ 35.8 billion in assets under management . Khazanah is one of the two Malaysia's government-linked investment companies (GLICs) that manages money from the government's excess funds, the other being Retirement Fund (Incorporated) . Khazanah is a company incorporated in Malaysia, and operates under the provisions of the Malaysian Companies Act. It is neither a government agency nor
1350-420: The fund. In July 2003, the fund had offer up to 186 million of covered warrants to retail, institutional and selected investors. Later on, Khazanah sets the indicative issue price of its covered warrants at RM6.50. In 2004, Khazanah became a regular issuer in the global capital markets and supporting Malaysia’s aspiration in being the leading hub for Islamic finance through landmark transactions. This include
1395-617: The government's Economic Development Board (EDB) also bought minority stakes in a variety of local companies. During the first ten years after independence, the government acquired or established several companies, such as the Keppel Corporation (originally Keppel Shipyard, taken over from the Royal Navy after the British military withdrawal from Singapore), ST Engineering (originally a weapon manufacturer set up to supply
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1440-603: The nation's underserved market. The fund announced that it will be spearheading a green investment platform to attract domestic and overseas investments. In July 2023, Khazanah partnered with the Singaporean venture capital firm, Antler to help the firm expand its operations in Malaysia while to support the local startup ecosystem. As early as January 2024, Khazanah and CGC Digital have jointly invested in Southeast Asia's digital finance platform, Funding Societies . Prime Minister, Anwar Ibrahim announced during
1485-615: The principal owner of satellite television provider, Astro through the subscription of new shares. Khazanah began issuing a RM1 billion bond where it was the first of a series of bonds aimed at providing a benchmark yield curve. On 5 December 1997, Khazanah signed a co-operation agreement with British Aerospace for a partnership to develop Malaysia's capability in designing and manufacturing of aerospace products, while enablling Malaysian companies received access to international aerospace work and future aircraft programmes. In 1999, Khazanah engaged in local bank restructuring by acquiring
1530-637: The relief efforts in response to the ongoing worldwide COVID-19 pandemic . Prime Minister, Anwar Ibrahim announced in February 2023 that Khazanah will spearheaded the formation of the National Heritage Fund to attract all private participations in restoring historical heritage sites. On 16 March 2023, Khazanah launched a new initiative called the Future Malaysia Program, under its Dana Impak mandate. The initiative
1575-742: The right to appoint, terminate, or renew the members of Temasek's board of directors. In most other respects, however, Temasek operates as an independent commercial investment holding company. In a 2009 speech, Ho Ching , then Temasek Holdings' Executive Director and CEO, said that the company had made an effort to instill discipline and professionalism, and to be tested and measured by providing public markers of performance. She noted that Temasek's bonds spreads and credit ratings have been regularly and independently monitored as public markers of Temasek's financial position and credit risks. Temasek had also openly and accurately disclosed its financial information through its annual report (although Ho said that, as
1620-551: The specific challenges impacting certain sectors and create sustainable growth for the long term. Khazanah was incorporated under the Malaysian Companies Act 1965 on 3 September 1993 as a public limited company and commenced operations a year later to manage and maximise the return of government assets and equities, thus taking over the functions of the Minister of Finance Incorporated , which administered
1665-605: The stake was not disclosed. In February 2019, Temasek invested in Zilingo . Temasek purchased 30 per cent of Haldor Topsoe's shares in March 2019. The investment company was selected in recognition of the value that it would add through its deep insights and connections in Asian growth and other emerging markets, according to the Danish engineering firm. The transaction price was not disclosed. In August 2020, Temasek Holdings added
1710-578: The streets of Bangkok. The deal was a factor in exacerbating the Thai political crisis , which eventually led to the downfall of Thaksin and a review of the transaction's legality. The military junta that overthrew Thaksin later tried unsuccessfully to force Temasek to divest a large part of its investment in Shin Corp. As of 2015, Temasek's stake in Intouch Corporation (as Shin Corporation
1755-536: The value of their $ 275 million investment in FTX to zero. In February 2022, Temasek led a $ 200 million fundraising round for a Singaporean cryptocurrency financing company, Amber Group. In May 2022, Temasek was finalizing talks to lead a $ 50 million financing round for DotPe, an Indian startup backed by Google . The same year, the company together with Ventury Partners led a $ 108 million financing round for Indian startup Country Delight . In August 2022, Temasek leads
1800-482: The world’s first exchangeable sukuk and the country's first sustainable and responsible investment sukuk. In May the same year, the Malaysian Government announces a strategic revamp for Khazanah. The revamp saws the fund received a new mandate from the government to be an active shareholder while driving transformation of the Malaysian government-linked companies (GLCs). In 2005, the fund launches
1845-464: Was 1.60%, with longer term 10-year and 20-year TSRs at 6% and 7% respectively, compounded annually. Its TSR since inception was 14%, compounded over 50 years. In addition to Temasek, the Government of Singapore also owns GIC Private Limited , a traditional SWF which manages about US$ 744 billion (S$ 1.006 trillion) of assets as of 2022 and the compulsory pension programme Central Provident Fund (CPF) with assets of US$ 397 billion (S$ 540 billion), giving
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1890-654: Was incorporated in 1966 as United Engineers (M) Bhd. In 2001, it became a wholly owned subsidiary of Khazanah Nasional Berhad , the sovereign wealth fund of Malaysia. Mercu UEM , a 29-storey commercial office building is the main headquarters of the UEM Group. It is located at KL Sentral , Kuala Lumpur . This Malaysian corporation or company article is a stub . You can help Misplaced Pages by expanding it . Khazanah Nasional Khazanah Nasional Berhad ( lit. ' National Treasure Limited ' ; doing business as Khazanah Nasional or simply Khazanah )
1935-423: Was introduced to support the local ecosystem of entrepreneurs, start-ups, venture funds, and corporate venture programmes through its local and international partners. The fund assigned its inaugural issuer credit rating of A3 and A− from Moody's Investors Service and S&P Global Ratings , in April 2023, respectively. Khazanah completed its acquisition of two state-owned venture capital funds, namely
1980-632: Was made to improving household incomes and achieve other socio-economic outcomes. Khazanah announced in September 2022 that it would eyeing potential investments in Southeast Asia and India while looking at the right time to execute them. In April 2023, Khazanah invests USD $ 40 million in Indian logistics company, Xpressbees. The fund invests in Malaysian homegrown insurance technology company, PolicyStreet in June 2023, aiming to enhanced protection for
2025-645: Was renamed) had reduced to 42%. In 2016, Temasek sold a further 21% stake in Intouch Holdings, the Thai telecoms conglomerate formerly known as Shin Corp. Beginning in 2015, Temasek began making large investments in agricultural and agricultural-related companies and ventures. In June 2018, Temasek invested S$ 340 million in a minority stake in UST Global, a digital technology services company. The size of
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