Latest news with #LimBoonHeng
Independent Singapore
a day ago
- Business
- Independent Singapore
Former DPM Teo Chee Hean to take over as Temasek chairman in Oct, succeeding Lim Boon Heng
Photo: Facebook/Temasek SINGAPORE: Former senior minister Teo Chee Hean will succeed Mr Lim Boon Heng as the fifth chairman of Singapore's investment company, Temasek Holdings, the company announced on Friday (June 6). Mr Teo will first join Temasek's board as deputy chairman on July 1, before taking over as chairman on Oct 9, after the company's third-quarter board meeting this year. Mr Lim served 12 years as chairman during his 13-year tenure as Temasek's board director. Under his leadership, Temasek's net portfolio grew from S$223 billion in 2014 to S$389 billion in 2024. He led the company's global expansion in Europe and the US and its community efforts during the COVID-19 pandemic. He also built strong ties between Temasek, its portfolio companies, workers, and the government. 'In my 13 years at Temasek, I have been privileged to work with a capable, dedicated team unified by a strong sense of purpose and commitment to excellence. I am always inspired by my colleagues' collective conviction that, like generations before us, we must always act today with tomorrow clearly in our minds,' he said. Mr Teo, a former political stalwart, served as Deputy Prime Minister from 2009 to 2019 and later as Senior Minister until he left politics in May 2025. Temasek said Mr Teo's 'wealth of experience and strategic insights will bring valuable perspectives to Temasek as it continues to evolve and grow as a global investment company.' 'In this era of deepening global uncertainty, we must remain clear-minded on critical matters such as international relations, security, and climate change,' Mr Teo said. 'I look forward to working with Temasek's board, management team and members of the wider Temasek family to build on the achievements of Temasek and chart a path for its continued success in the new global environment,' he added. Mr Lim noted that Mr Teo's depth of experience in public service and his seasoned wisdom on both local and global affairs make him the right helmsman for Temasek. 'I am truly pleased that Chee Hean will guide Temasek into its next chapter of growth as a global investor,' he added. /TISG Read also: Warren Buffett to step down as CEO by year-end, hands Berkshire Hathaway reins to Greg Abel
The Star
2 days ago
- Business
- The Star
Asean News Headlines as at 10pm on Friday (June 6, 2025)
Malaysia: * Engineer loses over RM1.5mil to online investment scam * Anwar expresses hope for Pakistan and India to find peaceful solution * Hadi hints he may step down as PAS president * US judge again halts ban on foreign students at Harvard * PETRONAS job cuts mainly affect contract workers, says Anwar * Malaysia reaffirms commitment to disaster-resilient education through national policy - Ahmad Zahid * FRU crash tragedy: JPJ opens investigation paper on lorry company * E-invoicing deadlines for businesses with revenue below RM5mil revised, says LHDN * S'wak keen on global partnerships in its bid to become a clean energy leader * Abim condemns US veto of UN Security Council's call for Gaza ceasefire * No foul play in death of man hit by LRT train in Puchong, say police * Police complete recording actor-cum-singer's statement over alleged sexual assault * High-rise tragedies show a systemic failure to ensure child safety, says children's commissioner Singapore: * Former senior minister Teo Chee Hean to be next Temasek chairman, taking over from Lim Boon Heng * Four charged over suspected involvement in 'blessing' scams * S$6,000 fine for man who falsely claimed Singapore minister made offensive remarks against Malays * Growing Temasek: Lim Boon Heng's contributions as chairman over the years * S$6k fine for man who falsely claimed Singapore minister made offensive remarks against Malays * Over 200 people investigated for suspected roles in scams in Singapore involving more than RM19.20mil in losses * Queues at VEP application centres in Singapore, JB after news of enforcement from July 1 * Ex-Singapore transport minister S. Iswaran completes home detention scheme, no longer under prison custody * Barge grounded off Tanjong Beach in Singapore's Sentosa, no reports of damage, injuries or pollution: MPA * Hong Kong branch of Singaporean 1880 club in liquidation with HK$20 million debt * Singapore can leverage on its trust premium * Asian equities see largest monthly foreign inflow in 15 months * Oil prices headed for rebound this week as US-China trade talks resume Indonesia: * Joyful aidiladha celebrations in Indonesia, communal spirit at embassy deepens brotherhood * Indonesia may install permanent stairlift at Borobudur Temple: Minister * Economic hardships subdue the mood for Eid al-Adha (Hari Raya Haji) in Indonesia this year * Indonesian legendary band Sheila on 7 returns to Malaysian for Latihan Pestapora super concert now at Bukit Jalil * Indonesian diva and pop princess Bunga Citra Lestari all set to bring her love tunes to KLCC on sept 27 * Indonesia wealth fund considers stake in Grab-GoTo deal, Bloomberg News reports * Badminton -- Superb comeback as Tang Jie-Ee Wei reach Indonesian Open semis * Woman thrives in cattle trading dominated by men Thailand: * Thailand conducts evacuation drills in seven border provinces amid tensions with Cambodia * Thai Airways shuts down Thai Smile after 12 years of losses * Thailand to begin trade talks with US — high-level negotiations underway * Thailand inflation remains negative in May; government cuts 2025 forecast * Asean remains a credible partner on global stage, says Thai minister * Thai military prepared for 'high-level operation' if Cambodia border row escalates * Thailand urges positive engagement after Cambodia threatens to take dispute to World Court * M'sia, Thailand tackle flood risks - Countries agree on early warning plan to enhance disaster response Filipino Muslims preparing butchered goats during the celebration of Eid Al-Adha at the Blue Mosque in Taguig, Metro Manila on June 6, 2025. - AFP Philippines: * Holding Sara Duterte trial isn't a choice, it's our constitutional duty, says senator * US military's logistics drill aims to burnish its East Asia crisis response * Philippines' jobless rate rises to 4.1 per cent in April * Filipino actress Michelle Dee bitten in the face by pet dog * Philippines: Sara questions impeachment trial Vietnam: * Cannes-winning film to compete at Danang Asian Film Festival 2025 * US Indo-Pacific commander calls PLA moves in strait 'rehearsals', not exercises * Vietnamese say no to more kids even after two-child limit scrapped; many prefer small family * Tariff War - Washington, Hanoi to fast-track trade negotiations * Vietnam's Vingroup seeks loan to buy KKR's Vinschool stake/ Foreign investment surges in five months Myanmar: * Six-year-old girl among Myanmar group arrested for killing retired general * 75 years of China-Myanmar ties commemorated in Myanmar with emphasis on bilateral cooperation, support Cambodia: * Cambodian troops deploy 12,000 soldiers near Chong Bok border: Source * Cambodia rejects Thai request for withdrawal of border forces * Cambodia's bold pledge to eliminate plastic pollution * Chinese and South-East Asian experts led by Cambodia share dolphin conservation strategies Laos: * Lao PM calls for united efforts to protect the environment * Laos takes steps to enhance irrigation development Brunei: * Malaysia, Brunei boost disaster, security cooperation * Brunei celebrates World Environment Day and its youth leadership * Brunei launches environment platform for youth AseanPlus: * Hong Kong tracks system that may develop into first 2025 typhoon * Japan curry shops see record bankruptcies as rice prices soar * Australian bouncy castle operator cleared over accident that killed six children * Hong Kong activist Joshua Wong charged under Beijing-imposed security law for second time * Australian cities offer free public transport to fill empty seats, ease cost of living pain * US visa hurdles put international students on edge * Japan allows longer nuclear plant lifespans * 'Elon Musk is not the father of my kids': J-pop diva Ayumi Hamasaki sets the record straight * India vows to keep up development in Kashmir after tourist attack * OECD: America emerges as biggest loser in Trump's trade war * Nepal ex-PM faces graft charge over land deal with Indian yoga guru's firm * Chinese tourist drowns at Pulau Perhentian * Over 70 delegates expected for Asean council meeting on drug menace next week in KL * Local actress Saidah Kamarudin cancels wedding, claims ex has only RM500 in his bank account * Trump says call with Xi produced 'very positive conclusion' * 14 emergency cardiac procedures in Saudi Haj hospital unit * Private lunar lander close to touchdown on moon's far north Models of the lunar lander Resilience (centre, left) and the lunar rover Tenacious (centre, right) operated by Japanese private company ispace are displayed at the Moon landing event venue in Tokyo on June 6, 2025. - AFP * Japan space ambitions dealt another blow after Ispace moon landing fails * Trump and Musk's relationship flames out just as intensely * From bros to foes: how the unlikely Trump-Musk relationship imploded * China's scientists unlock secrets of how early birds conquered the skies and publicly as it started * 'Treated like a criminal': Fury over Hong Kong student's Australian deportation * Harvard speech sparks China debate on elite education access, privilege * Tech giants' indirect emissions rose 150% in three years as AI expands, UN agency says * China's first foreign-owned hospital seeks medical tourists * More leave to address declining birth rates in China * Japan curry shops see record bankruptcies as rice prices soar * Indian police arrest four people for cricket fans stampede * South Korean conservatives looking for rebirth after election loss * Google's new AI-powered search has arrived. Proceed with caution * Is Labubu the next Hello Kitty? Analysts debate Pop Mart's limits * Burning ship abandoned in Pacific carried several Chinese car brands * Hong Kong bank robbery suspect's 'illogical' target sparks online debate * Taiwan's Pegatron says it is in final stage of evaluating US factory plan * 'Man mums' in China sell five-minute hugs for US$7, gain popularity among lonely women * Olympics - US travel ban will not hinder Los Angeles Olympics, LA28 CEO says * Soccer - Japan's Moriyasu mourns end of unbeaten run after loss to Australia * Ex-US envoy to China warns of Beijing involvement in Ukraine-Russia talks * Australian accused in mushroom murders searched for deadly strain before deaths, court hears * Another forced break as Tze Yong goes for knee surgery but he's staying positive * Tennis - Laser-focused Gauff ends Boisson's dream run to reach French Open final * Tennis - Finally conquering Paris clay would mean the world to me, says Sabalenka
The Star
2 days ago
- Business
- The Star
Growing Temasek: Lim Boon Heng's contributions as chairman over the years
Lim Boon Heng, who was appointed chairman in 2013, will step down from his role in October.- ST FILE Timothy Goh SINGAPORE:Temasek chairman Lim Boon Heng oversaw key changes during his tenure, including a board renewal, leadership transition and development of the state investor's long-term strategy. Appointed chairman in 2013, he will step down from his role in October. He will be succeeded by former senior minister Teo Chee Hean, who will join Temasek's board as deputy chairman on July 1, before taking the helm in October. Here is what Temasek achieved during Lim's tenure: Temasek established itself as a global investor, with its net portfolio value rising from $223 billion in March 2014 to $389 billion in March 2024. Singapore's investment company grew its footprint across Europe and the US, which now hosts six of its 13 international offices. It expanded its global advisory network, supplementing its Temasek International Panel with three regional panels – the Temasek European Advisory Panel and the Temasek Americas Advisory Panel in 2016, as well as the Temasek South-east Asia Advisory Panel in 2023. Lim, a former minister in the Prime Minister's Office and secretary-general of the National Trades Union Congress from 1993 to 2006, oversaw the Temasek board's renewal process, including increasing its international representation. He also oversaw Temasek's leadership transition in 2021, when Ho Ching stepped down as executive director and chief executive. Under Lim's leadership, Temasek launched its 'T2030' strategy in 2019 to build a resilient and forward-looking portfolio, and refreshed its Charter in 2024 to reaffirm its commitment to sustainable long-term returns. Lim articulated Temasek's Purpose statement – So Every Generation Prospers – in 2021, strengthening the company's organisational alignment and direction. Temasek was ranked first in the Global Sovereign Wealth Fund's governance, sustainability and resilience scoreboard in 2023 and 2024. Temasek expanded its sustainability initiatives during his tenure, including the annual Ecosperity conference which has been held since 2014, and has actively engaged its portfolio companies through forums such as the Temasek Roundtable. Lim launched the Temasek Tripartite Conversations to tackle issues such as artificial intelligence (AI) and green jobs, and marked Temasek's 50th anniversary in 2024 with a $150 million fund to support skills training and talent development in Singapore. Temasek executive director and chief executive Dilhan Pillay Sandrasegara said on June 6 that the company has strengthened its position as a globally recognised investment company under Mr Lim's leadership. 'His championing of the Temasek Tripartite Conversations has been particularly meaningful – these dialogues have built important bridges between Temasek, our portfolio companies and union representatives, creating a culture of trust and collaboration that fortifies the ecosystem with greater resilience,' he added. During the Covid-19 pandemic, Temasek – together with its portfolio companies, Temasek Foundation and partners – led response efforts that included distributing essential supplies and medical equipment. Lim said he has been privileged to work with a capable and dedicated team 'unified by a strong sense of purpose and commitment to excellence'. 'I am always inspired by my colleagues' collective conviction that, like generations before us, we must always act today with tomorrow clearly in our minds,' he added. 'My deep gratitude goes to my fellow board members and the Temasek team as we continue to build resilience throughout Temasek, our portfolio companies, and our ecosystem. Together, we can navigate uncertainties and emerge stronger.' Temasek, alongside sovereign wealth fund GIC and central bank Monetary Authority of Singapore, is a significant contributor to Net Investment Returns Contribution, which is used for government spending. - The Straits Times/ANN
Malay Mail
2 days ago
- Business
- Malay Mail
Former Singapore DPM Teo Chee Hean is next Temasek chairman
SINGAPORE, June 6 — Former Singapore Senior Minister and Deputy Prime Minister Teo Chee Hean will become the fifth chairman of Temasek Holdings effective Oct 9, the state investment company announced Friday. Temasek said he will succeed Lim Boon Heng, who will step down from the Temasek Board after serving as chairman for 12 years. Teo will join Temasek's board of directors as deputy chairman on July 1. The company said Teo, a former political stalwart, has advanced Singapore's interests, including in critical areas such as geopolitics, cybersecurity and technology, climate action, as well as defence and security. 'In a rapidly changing world, his wealth of experience and strategic insights will bring valuable perspectives to Temasek as it continues to evolve and grow as a global investment company,' Temasek said in a statement. Teo, a core member of Singapore's third-generation political leadership team, served as Deputy Prime Minister from 2009 to 2019 and as Senior Minister from 2019 until he stepped down from politics in May 2025. Teo said he looks forward to working with the company to build on the achievements of Temasek and to chart a path for its continued success in the new global environment. 'As a key Singapore institution with a global investment footprint, Temasek understands that its long-term success requires both addressing today's risks and opportunities, and anticipating tomorrow's trends,' Teo said in the statement. Meanwhile, Temasek said that under Lim's chairmanship, its net portfolio value grew from S$223 billion in March 2014 to S$389 billion in March 2024. The company also expanded its footprint across Europe and the US, which now host six of its 13 international offices. Lim said he is pleased that Teo will guide Temasek into its next chapter of growth as a global investor. 'His remarkable depth of experience in public service, combined with his seasoned wisdom on both local and global affairs, makes him the right helmsman for Temasek as we navigate increasingly choppy waters while remaining true to our purpose to ensure every generation prospers,' he said. — Bernama
Straits Times
2 days ago
- Business
- Straits Times
Growing Temasek: Lim Boon Heng's contributions as chairman over the years
Mr Lim Boon Heng, who was appointed chairman in 2013, will step down from his role in October. PHOTO: ST FILE SINGAPORE – Temasek chairman Lim Boon Heng oversaw key changes during his tenure, including a board renewal, leadership transition and the development of the state investor's long-term strategy. Mr Lim, who was appointed chairman in 2013, will step down from his role in October. He will be succeeded by former senior minister Teo Chee Hean, who will first join Temasek's board as deputy chairman on July 1, before taking the helm in October. Here is what Temasek achieved during Mr Lim's tenure: Growth as an international investor Temasek established itself as a global investor, with its net portfolio value rising from $223 billion in March 2014 to $389 billion in March 2024. Singapore's investment company also grew its footprint across Europe and the US, which now hosts six of its 13 international offices. It expanded its global advisory network, supplementing its Temasek International Panel with three regional panels – the Temasek European Advisory Panel and the Temasek Americas Advisory Panel in 2016, as well as the the Temasek South-east Asia Advisory Panel in 2023. Mr Lim, a former minister in the Prime Minister's Office and secretary-general of the National Trades Union Congress from 1993 to 2006 , oversaw the Temasek board's renewal process, including increasing its international representation. He also oversaw Temasek's leadership transition in 2021, when Ms Ho Ching stepped down as executive director and chief executive. Shaped Temasek's purpose, charter and T2030 Strategy Under Mr Lim's leadership, Temasek launched its 'T2030' strategy in 2019 to build a resilient and forward-looking portfolio, and refreshed its Charter in 2024 to reaffirm its commitment to sustainable long-term returns. Mr Lim also articulated Temasek's Purpose statement – So Every Generation Prospers – in 2021, strengthening the company's organisational alignment and direction. Recognised for high standards of corporate governance and sustainability Temasek was ranked first in Global Sovereign Wealth Fund's governance, sustainability and sesilience scoreboard in both 2023 and 2024. Temasek expanded its sustainability initiatives during his tenure, including the annual Ecosperity conference which has been held since 2014, and has actively engaged its portfolio companies through forums such as the Temasek Roundtable. Built resilience in the workforce and communities Mr Lim launched the Temasek Tripartite Conversations to tackle issues such as artificial intelligence (AI) and green jobs, and marked Temasek's 50th anniversary in 2024 with a $150 million fund to support skills training and talent development in Singapore. Temasek executive director and chief executive Dilhan Pillay Sandrasegara said on June 6 that the company has strengthened its position as a globally recognised investment company under Mr Lim's leadership. 'His championing of the Temasek Tripartite Conversations has been particularly meaningful –these dialogues have built important bridges between Temasek, our portfolio companies, and union representatives, creating a culture of trust and collaboration that fortifies the ecosystem with greater resilience,' he said. During the Covid-19 pandemic, Temasek – together with its portfolio companies, Temasek Foundation and partners – led response efforts that included distributing essential supplies and medical equipment. Mr Lim said he has been privileged to work with a capable and dedicated team 'unified by a strong sense of purpose and commitment to excellence'. 'I am always inspired by my colleagues' collective conviction that, like generations before us, we must always act today with tomorrow clearly in our minds,' he said. 'My deep gratitude goes to my fellow board members and the Temasek team as we continue to build resilience throughout Temasek, our portfolio companies, and our ecosystem. Together, we can navigate uncertainties and emerge stronger.' Temasek, alongside sovereign wealth fund GIC and central bank the Monetary Authority of Singapore, is a significant contributor to Net Investment Returns Contribution, which is used for government spending. Join ST's WhatsApp Channel and get the latest news and must-reads.
