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Exercising Stewardship Making a Difference 76 Enriching Lives 83 “ It’s not always about choosing amongst existing pathways; at times, one has to create a new pathway altogether.” Vibhor Talreja, Director, India Photo (left to right): Vikram Nataraj, Director, Investment; Alan Thompson, Managing Director, Investment. 75
Making a Difference Over S$1b committed for community causes 76 Temasek Review 2012 As individuals and as an institution, we have a stake in the well-being of our community, and a responsibility to exercise good stewardship. Since Temasek’s inception in 1974, we have committed over S$1 billion for community, philanthropic and public good causes. In 2003, we decided to set aside a portion of our excess returns above our risk-adjusted hurdles for community contributions. Temasek Trust We established Temasek Trust in 2007 to independently oversee the fi nancial management of Temasek’s philanthropic endowments and gifts, including the consequent disbursements to designated non-profi t benefi ciaries. Governed by a distinguished Board of Trustees, comprising Chairman Lee Seng Wee and Dr Richard Hu from Singapore, and Ratan Tata from India, the Trust funds the following non-profi t philanthropic organisations: • Temasek Education Foundation • Temasek International Foundation • Temasek Cares • Temasek Foundation • Temasek Life Sciences Laboratory • Singapore Millennium Foundation • Singapore Technologies Endowment Programme Temasek Education Foundation Temasek Education Foundation (TEF) has endowments totalling S$140 million to nurture young talent in the areas of sports, mathematics, science, arts and music. Three endowments of S$35 million each were named after Singapore’s pioneering leaders in recognition of their life-long contributions to nation building: • EW Barker Endowment to nurture sports excellence, including students and staff in the Singapore Sports School • Tay Eng Soon Endowment to advance science and mathematics, including students and staff at the NUS High School of Mathematics and Science • David Marshall Endowment to cultivate performing and fi ne arts, including students and staff at the School of the Arts Singapore In the area of music education, TEF supports the Singapore Symphony Orchestra and the Singapore Chinese Orchestra in their development and community outreach.
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