Temasek lauded by Jakarta for boosting S'pore-Indonesia ties

Singapore's investment company Temasek was recognised yesterday for its longstanding partnership with Indonesia and its efforts in strengthening bilateral relations between the two countries.

It received the inaugural Adinata Award, or Award for Excellence, from the Embassy of Indonesia in Singapore in a ceremony that was streamed online.

The award will be given out annually to an individual or institution in Singapore that has increased understanding and built better relations between Indonesia and Singapore.

Indonesia's Ambassador to Singapore Suryo Pratomo said Temasek and its portfolio companies have been investing steadily in Indonesia over the years. It also supported Indonesia in the provision of training, education scholarships and donations during the Covid-19 pandemic, he added.

"Temasek has proven that Singapore is one of those loyal friends that offer their hands in such uncertain times to stay united and work together, jointly dealing with common challenges," he said.

Temasek International executive director and chief executive Dilhan Pillay Sandrasegara said in a speech at the ceremony that the award reaffirms the close partnership between both countries.

"We will continue to work with you, both as an investor, but more importantly, as a friend," he said, noting that Temasek Foundation and a group of donors from Indonesia and Singapore last month provided more than 12,000 oxygenators to Indonesia.

There are many opportunities for Temasek to work with businesses from Indonesia, potentially investing in them or with them, he noted.

"We have invested steadily in Indonesia over the years. Likewise, several of our portfolio companies such as DBS Bank, Sembcorp Industries and Singtel have had longstanding partnerships and a presence in Indonesia."

Indonesia's digital economy holds great promise, he added, because of strong fundamentals such as a large population with growing income, and a rapidly developing digital ecosystem.

Foreign ministers from both countries attended the ceremony virtually.

Singapore's Dr Vivian Balakrishnan said Temasek is also an active contributor to the economy and to building people-to-people ties. He highlighted the spirit of "gotong royong" - an expression for a community that mobilises itself to help others - and mutual aid between both countries in responding to the pandemic and meeting urgent humanitarian needs.

His Indonesian counterpart Retno Marsudi said she appreciated the support given by Singapore's Government and Singaporeans for Indonesia's pandemic recovery effort. "I hope that (Temasek's) longstanding commitment in bringing people of the two countries closer together will be an inspiration for many."

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A version of this article appeared in the print edition of The Straits Times on August 27, 2021, with the headline Temasek lauded by Jakarta for boosting S'pore-Indonesia ties. Subscribe