Incorporated in 1974, Temasek is an investment company based in Singapore. Supported by 10 offices globally, Temasek owns a S$242 billion portfolio as at 31 March 2016, mainly in Singapore and Asia. Temasek’s investment themes centre on: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions. Its portfolio covers a broad spectrum of industries: financial services; telecommunications, media and technology; transportation and industrials; life sciences, consumer and real estate; as well as energy and resources. Total shareholder return for Temasek since its inception in 1974 was 15% compounded annually. Temasek has had an overall corporate credit rating of “Aaa” by Moody’s Investors Service and “AAA” by S&P Global Ratings since our inaugural rating in 2004. As an institution, we have a stake in the well-being of our larger community. We recognise that environmental, social and governance factors can impact them as well as the long term sustainability of companies and businesses. We practise our commitment as a responsible corporate citizen and steward by supporting efforts that build people and communities through education, healthcare and research; build bridges between peoples through deeper understanding and friendship; build better governance through a culture of integrity and excellence; and rebuild lives and livelihoods devastated by major natural disasters. Since our inception in 1974, we have established 16 endowments, aimed at building people, building communities, building capabilities and rebuilding lives, in Singapore and Asia. Our endowments and philanthropic entities touched the lives of more than 300,000 people.