Temasek Report 2010

Temasek Holdings is an investment company
managed on commercial principles to create and deliver sustainable long-term value for our stakeholders.

Temasek is an active value-oriented investor
and may increase, reduce or hold its investments in companies or other assets, or pioneer innovative products or businesses in order to create and maximise shareholder value.

Temasek is an active shareholder
and aims to achieve sustainable returns by engaging the boards and managements of its portfolio companies to:

1. •Values
   Foster a deep culture of integrity, meritocracy and excellence;
2. •Focus
   Maintain a clear focus on core competence, customer fulfilment, innovation, commercial discipline and consistent value creation;
3. •Human Capital
   Cultivate high calibre board and management leadership, as well as committed and responsible employees;
4. •Sustainable Growth
   Institutionalise superior business leadership, financial discipline, operational excellence and sound corporate governance;
5. •Strategic Options
   Create strategic options to build significant international or regional brands or businesses.

Temasek is a responsible corporate citizen
and is committed to contributing part of its returns to encourage the growth and development of the wider community.