Temasek Holdings says it has given $150 million to the community in a bid to build a resilient and future-ready workforce in Singapore. About 4% of the gift’s principal amount will be distributed annually.
The gift, named “T-Spring”, will enable businesses to meet the needs of a changing marketplace, announced Temasek at its annual community day on June 25.
“Human capital has been the driver of our journey, and plays an important role in our contribution to Singapore,” says Lim Boon Heng, chairman of Temasek Holdings. “As Temasek turns 50, we continue to do things today with tomorrow in mind. Our T-Spring community gift aims to enable Singapore’s workforce and organisations to better prepare for a different world and open up new opportunities for all. It reflects our commitment to this and future generations, so every generation prospers.”
The gift, in collaboration with partners, will upskill workers in at-risk sectors and enhance the employability of seniors, persons with disabilities and neurodiverse individuals. It will also provide scholarships, thereby improving access to tertiary education, especially for those with disadvantaged backgrounds.
The scholarships will have an initial focus on science, technology, engineering and mathematics (STEM) talent. Finally, the gift will bring in pinnacle industry experts to partner Temasek and its ecosystem to drive innovation and develop solutions for Singapore.
“Temasek’s DNA is rooted in Singapore’s history,” says Dilhan Pillay, executive director and CEO of Temasek Holdings. “Growing alongside the nation, we recognise that businesses cannot succeed unless societies thrive. We must not only do well, but also do right and do good. Through structured community contributions and our own staff volunteer efforts, we have continually given back to our wider community over generations. Our T-Spring gift and annual community day furthers our commitment to building a better and more inclusive tomorrow for Singapore.”
