In a Financial Times report last month, returns generated by both entities were deemed "poor" relative to global peers.
GIC's 20-year annualised real return was 3.8% for the year to March 31, 2025, below the 3.9% it posted a year earlier. This marked its weakest showing since 2020.
For the same year to March 31 2025, Temasek reported a 10-year total shareholder return of 5%.
In line with bouyant equities markets, Temasek is expected to report a higher portfolio value for this current year.
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Just like how Temasek has previously long maintained that it leaves the running of its portfolio companies to their respective boards and management, the government does not intervene in Temasek’s individual investment decisions, says Siow.
He adds that GIC is able to make active decisions to manage assets and generate high returns over the years.
“I think we have to leave the professionals to do the work that they do,” he says.
