Temasek, founded in 1974, is a privately registered holding company under the supervision of Singapore's Ministry of Finance. Temasek manages the equity of 36 Guolian enterprises such as Singapore Development Bank (with a total amount of S $345 million, about RMB 654.38+06 billion, about US$ 70 million). The government entrusts it with the purpose of "cultivating world-class companies through effective supervision and strategic investment in business, thus contributing to Singapore's economic development." At present, the company manages 23 Guolian enterprises (which can be regarded as its subsidiaries) by holding shares, including 4 wholly-owned companies 14, 7 listed companies, 2 limited liability companies, more than 2,000 subordinate enterprises of various sizes, with total employees140,000, and total assets exceeding USD 42 billion, accounting for about 8% of the national GDP.
The company's main business is asset management and management, focusing on capital investment and financial management. At present, there are only 150 people in the head office, and most of the business personnel are professionals with overseas study experience and master's degree or above. The company has offices in Hong Kong and Malaysia. The company has always adhered to the principle of lean and efficient employment. This is one of the important reasons for its remarkable achievements since its establishment. ?
At present, the executive director and CEO of the company is Ms. Jing He, the wife of the current Singaporean Prime Minister Lee Hsien Loong. At present, the board of directors of the company consists of 10 directors. Four of them (40%) are government civil servants and the other six are businessmen. According to the company's articles of association, the appointment of the company's top leaders (chairman and president) needs to be reviewed by the Ministry of Finance and reported to the president for approval, which also shows that it is very different from the general Temasek organization chart of private companies. After more than 20 years of commercial practice, Temasek has basically achieved the following three points in managing state-owned assets: 1. Separation of government and enterprise, clear property rights. 2. By entrusting Temasek to operate, the government's management of state-owned assets has not only achieved the goal of "grasping the big and letting go of the small", but also achieved the goal of strengthening the control of the state-owned economy over the national economy. The government passed the "Grasping the Leading Group (Supervising the Leading Group of Temasek)". By setting indicators (setting economic indicators for assessment), determining the scope (examining and approving the operating direction of subsidiaries), and looking at the benefits (analyzing and inspecting the financial situation of subsidiaries), we can maintain and increase the value of state-owned assets, expand the control of state-owned economy, and cultivate and bring up a number of modern enterprises with international standards. 3. Implement the strategy of equal treatment, emphasize fair competition under equal conditions, and cultivate and bring up a group of international entrepreneurs. The relationship between the head office and its subsidiaries in the Temasek system is called "at arm's length", and between management and being managed, supervision and being supervised, we adhere to procedures and systems. The head office gives guidance to the business activities of subsidiaries, but does not interfere; Give policy support, but do not replace it; Give help, but don't do it all.