Temasek International, the $337B (S$434) Singaporean state-owned multinational investment firm, is undergoing internal restructuring to position the firm for the new global environment.
The franchise’s restructuring is intended to sharpen its focus on key portfolio segments, noted a press release. “Three distinct portfolio segments – Global Direct Investments (GDIs); Temasek Portfolio Companies (TPCs); and Partnerships, Funds, and Asset Management Companies (PFAs) – will drive Temasek’s growth as the firm continues to build a resilient and forward-looking portfolio,” it said.
As well, the restructure will see the creation of three entities – Temasek Global Investments (TGI), Temasek Singapore (TSG), and Temasek Partnership Solutions (TPS) – that will manage the GDI, TPC, and PFA portfolios respectively, as of April 1, 2026.
With the restructuring comes leadership changes, including Lee Theng Kiat’s stepping down as chairman of Temasek International, with Pillay taking on the role, as well as being named chairman of the new entities. Pillay will hold the new appointments concurrently with his existing positions as executive director and chief executive officer of Temasek Holdings.
As of Oct. 1, 2025, Chia Song Hwee will be appointed CEO, TGI and Deputy Chairman of TI, TSG, and TPS; Nagi Hamiyeh, will be the new head of Europe, Middle East and Africa, in conjunction with being appointed president of TGI; and Png Chin Yee will serve as chief financial officer, as well as president of TSG.
The Temasek Holdings Board, along with Pillay as Temasek Holdings CEO, will continue to have oversight of the overall portfolio and group, guiding the collective leadership and management of all entities, working as OneTemasek to deliver on its T2030 strategy.
Lim Boon Heng, Chairman, Temasek Holdings, said, “Our portfolio has evolved and grown significantly over the last two decades,” said Lim Boon Heng, chairman of Temasek Holdings. “As we continue our journey, these changes will enable Temasek to navigate and operate effectively, positioning it to be future-ready. We must remain steadfast in our commitment to do well, do right, and do good. By harnessing our collective strengths, we act today with tomorrow in mind, so every generation prospers.”
