SINGAPORE - Investment company Temasek announced on Tuesday (Sept 6) the launch of its new philanthropic platform, to better serve the evolving needs of the community.
"The new platform aims to enhance overall effectiveness by optimising resources in the delivery of programmes to beneficiaries, and to increase collaboration to achieve better outcomes," said Temasek in a statement.
The platform includes six foundations - instead of eight non-profit philanthropic organisations previously - managing several endowment funds; Temasek Trust which provides financial oversight and governance over the foundations; and a new entity called Temasek Foundation Management Services to drive collaboration among and provide support services for all the foundations.
The six foundations, which manage a total of 17 endowments, are:
- Temasek Foundation International, which focuses on building capabilities and human capital development, in Asia and beyond;
- Temasek Foundation Cares, which funds community-based programmes to benefit the needy in Singapore;
- Temasek Foundation Connects, which focuses on promoting partnerships and dialogue in areas such as security and corporate governance;
- Temasek Foundation Nurtures, which funds programmes focusing on education and professional development;
- Temasek Foundation Innovates, which focuses on research and innovation; and
- Temasek Foundation Ecosperity, which funds programmes that improve environmental sustainability.
Temasek chairman Lim Boon Heng said at the launch event at Grand Hyatt hotel on Tuesday: "Temasek is constantly evolving and changing how we do our work. But our role as a trusted steward and our commitment to advance communities - why we work - will not change."
Since Temasek was set up in 1974, over $2 billion has been committed for community initiatives, which have benefited more than 300,000 people in Singapore and across Asia.