Temasek Review 2022

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Performance Overview

We ended the year with a net portfolio value of S$403 billion.

(as at 31 March)


Net portfolio value

Up S$205 billion over the last decade

Net Portfolio Value (S$b)
Net Portfolio Value


Invested during the year

Invested S$315 billion over the last decade

Investments & Divestments (S$b)
Investments & Divestments
  • Investments
  • Divestments


Exposure to Asia

Singapore exposure up S$50 billion over the last 10 years

Portfolio by Geography (%)
Net portfolio value (S$b)
90 103 129 164 185 130 186 193 198 215 223 266 242 275 308 313 306 381 403
Portfolio by Geography
Chart Notes
  • Singapore
  • Asia ex-Singapore
  • Rest of world


One-year return to shareholder

Total shareholder return of 14% since inception

S$ Total Shareholder Return (%)
Period in years
Total Shareholder Return
Period in years


20-year return to shareholder

One-year returns of -9% to 25% during the last decade

Rolling S$ Total Shareholder Return (%)
Total Shareholder Return
  • One-year
  • 10-year
  • 20-year


Dividend income

Average annual dividend income of S$8 billion over the last decade

Dividend Income (S$b)
Dividend Income