We refer to the article which mentioned Temasek's investment in Hyflux (Temasek invested, so couple did so too; March 31).

Temasek's investment in Hyflux was part of an initiative during the early 2000s to invest in Singapore small and medium-sized enterprises (SMEs), to support their growth in promising sectors, such as water technology.

Upon completion of its investment objectives, Temasek exited its Hyflux investment.

This was before 2006, as noted in the news article - well before the issuance of Hyflux preference shares in 2011 and their perpetual bonds in 2016.

Today, Temasek continues to invest in Singapore SMEs via an independently managed fund, Heliconia Capital Management.

Guided by its own board and management, Heliconia seeks to invest growth capital in Singapore-based SMEs.

In addition to risk capital, Heliconia management also works with its investee companies on strategies and opportunities for regional or international growth.

Neither Temasek nor Heliconia has had any investments in Hyflux since 2006.

Stephen Forshaw

Head, Public Affairs

Temasek International