Investing Like A Sovereign Force - The Temasek Trinity Unlocked

🌟🌟🌟Most portfolios whisper.  My portfolio has done well because tucked inside it lies DBS, SGX and ST Engineering, 3 Singapore Giants lifted straight from Temasek's treasure chest.

A Glimpse into Temasek's Origins

Temasek was established in 1974 as Singapore's sovereign wealth fund which emerged from a bold idea - To separate state from business and let a commercially minded entity steer the nation's corporate crown jewels. 

Temasek took over 35 government linked companies, from airlines to shipyards and started building an empire of strategic conviction.  

Temasek wasn't just a holding company.  It has become a generational investor, focusing on long term value creation, global expansion and strategic influence.  Today with a portfolio of SGD 434 billion, Temasek remains one of the world's most respected sovereign funds and a silent co pilot in my portfolio.  It owns stakes in DBS, SGX and ST Engineering which are not just top performers this year, they are the pillars of Singapore's economic muscle and global ambition. 

Here is the kicker - Temasek has owned hefty stakes in DBS, SGX and ST Engineering since its early days of transforming government linked companies into world class powerhouses.  Without even trying, I have ended up shadowing one of the most respected institutions on the planet. 

Let me show you how my portfolio blends strategy, history and performance into one sovereign grade line up :

DBS - The Unshakeable Banking Titan 

DBS $DBS Group Holdings(D05.SI)$  isn't just Singapore's largest bank.  It is also South East Asia's largest.  DBS is a fortress of profitability and innovation.  In Q1 25 it posted a record total income of SGD 5.91 billion, up 6% year over year, with a net profit at SGD 2.90 billion.  DBS wealth management division surged 45% pushing Assets Under Management to a record SGD 426 billion. 

For dividend lovers like me, DBS declared SGD 0.60 per share plus a SGD 0.15 capital return dividend.  It is planning to keep that generosity flowing.  With a P/E ratio of 11.53 and a dividend yield of  5%, DBS is not just a bank, it is a compounding machine. 

Performance wise DBS has recently reached its 52 week high at SGD 46.97.  It is up 4.6% year todate and in 2024 DBS has risen by 21%.

DBS is also Temasek's largest listed holding with 28% stake. 

SGX - The Silent Powerhouse

SGX $SGX(S68.SI)$  is the backstage pass to South East Asia 's financial transformation.  In FY 2025, SGX posted a 28% jump in securities turnover, with daily cash equity volumes hitting a 4 year high. 

Its FX derivatives are booming - up 66% year over year, while OTC FX ADV surged 36%, reflecting global demand.  SGX's core PATMI is projected to hit SGD 321.6 million.  Analysts have upgraded its target price to SGD 18.30, citing defensive earnings and ESG leadership. 

Performance wise, SGX is up 23% year todate and in 2024, it has jumped 57%.

Temasek owns 21% stake.  While others chase volatility, SGX quietly compounds. 

ST Engineering - Innovation in Armour 

From Aerospace to Smart Cities, ST Engineering $ST Engineering(S63.SI)$  is the stealth performer that is anything but boring.  In Q1 25, it posted SGD 2.92 billion in revenue, up 8% year over year with its order book hitting a record high of SGD 29.8 billion. 

ST Engineering Commercial Aerospace division is booming with engine MRO and passenger to freighter conversion leading the charge.  Meanwhile its Defense and Public Security segment grew 18% year over year and Urban Solutions is showing signs of a turnaround. 

Performance wise ST Engineering has been on tear.  Its shares are up 73% year todate and in 2024 it has skyrocketed 84%.

Temasek's 51% stake here isn't just strategic.  It is visionary.  ST Engineering is guiding for SGD 813 million in net profit this year. Analysts are projecting SGD 15.26 per share by 2027.

Portfolio Overlap Check - Sovereign Grade Strategy 

Without trying, I have mirrored one of the most disciplined portfolios in the world.  These 3 Singapore Giants aren't just local darlings, they are Temasek endorsed titans with global reach, defensive moats and compounding muscle. 

Concluding Thoughts 

While other investors chase unicorns and hype, I am sitting on a portfolio shaped by Temasek's foresight.  It is powerful, it is polished and this trio deliver performance that speaks louder than headlines. 

I am not just diversified, I am Temasek aligned. 

Go Long Go Strong Go DBS, SGX and ST Engineering! 🥰🥰🥰🇸🇬🇸🇬🇸🇬🌈🌈🌈💰💰💰

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