Temasek Report 2010

A commitment to strong governance is the foundation for a sustainable institution of character and distinction.

A robust and pragmatic governance framework emphasises long term over short term and substance over form, and provides a balance between accountability and responsiveness, empowerment and organisational alignment, and risks and returns.

Our governance framework defines roles and responsibilities of our Board and management, guides our conduct as a key institution under the Singapore Constitution, and governs our relationship with our stakeholders.

We espouse the principles of commercial discipline, built on a culture of meritocracy, excellence and integrity, and aligned through a performance incentive framework that reinforces sustainable long-term value.

Directed by our Board and management, Temasek owns and manages its assets on a commercial basis. Investment, divestment, business and commercial decisions are the responsibility of our Board and management.

Neither the President of Singapore nor the Singapore Government is involved in our investment, divestment or other business decisions.