STEPHEN FORSHAW

TEMASEK HOLDINGS: WE DO NOT INVEST OR MANAGE YOUR CPF MONIES

Temasek does not invest or manage the savings of CPF members. As for Temasek's performance, we have more than doubled our portfolio value since 2002, excluding any net new capital. As of our last reporting date of March 31 last year, returns to Temasek for newer investments made since 2002, when we started investing directly in a growing Asia, have exceeded returns since 2002 for older investments made prior to 2002. We thank readers for their interest in Temasek, and look forward to the day when it is practical for us to issue Temasek Bonds to retail investors to give them another option to save for their retirement.

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