At the APAC Financial Services Marketing Leaders’ Summit in Singapore this September, the closing keynote offered a rare window into the brand philosophy of one of the world’s most distinctive investment institutions. Lena Goh, Managing Director and Head of Public Affairs at Temasek, joined Resonate Global’s Chris Wright for a candid conversation that reframed brand not as a marketing asset - but as a strategic currency.

Temasek is a global investment company headquartered in Singapore, wholly owned by the Singapore Ministry of Finance. With a portfolio spanning sectors from financial services and consumer goods to technology and sustainability, Temasek operates more like a long-term strategic investor than a conventional fund. Its mandate is to generate sustainable returns while contributing to Singapore’s economic resilience and global influence. That dual role - commercial and sovereign - makes its brand philosophy uniquely complex.

Brand as License to Operate

For Temasek, brand isn’t a wrapper - it’s the substance. “It’s our reputation equity,” Lena explained. “It’s our license to operate. It gives our people a seat at the table in sensitive markets and closed-door boardrooms.” This concept of franchise value - where brand enables access, trust, and long-term partnership - is central to Temasek’s global engagement strategy.

Unlike traditional asset managers, Temasek’s brand must resonate across four distinct stakeholder layers: sovereign, diplomatic, commercial, and public. Each layer carries its own expectations, risks, and relational dynamics. “Capital is a commodity,” Lena noted. “Our differentiator is trust.”

The Three Ps of Public Affairs

Temasek’s public affairs strategy is built around three core functions:

• Positioning: Purposeful storytelling and strategic narrative development across markets and sectors.

• Protecting: Vigilant reputation management, especially in high-risk investments and geopolitical contexts.

• Projecting: Thought leadership, brand partnerships, and tailored engagement across diverse audiences.

This framework allows Temasek to navigate complex stakeholder ecosystems - from foreign governments and business leaders to everyday Singaporeans who feel a personal stake in the institution’s actions.

Stakeholder Complexity: From Diplomacy to Domestic Impact

Lena offered a nuanced breakdown of Temasek’s stakeholder landscape:

• Government: With the Ministry of Finance as its sole shareholder, reputational risk is non-negotiable. “There’s zero tolerance,” Lena said. “It’s embedded in our risk framework.”

• Foreign Diplomacy: In an era of geopolitical tension, Temasek’s statements in one market can ripple across others. Office locations, job creation, and investment signals all carry diplomatic weight.

• Business Networks: In Singapore, Temasek’s portfolio companies employ over 160,000 people. Conversations around AI, tech disruption, and job transformation often place Temasek at the centre of national dialogue.

• Public Sentiment: From airlines and trains to ports and buildings, Temasek’s footprint is deeply woven into daily life. “Singaporeans feel like they own us,” Lena said. “And they’re vocal about it.”

Catalytic Capital: Beyond Financial Returns

Temasek’s investment philosophy is anchored in “catalytic capital” - a framework that evaluates returns across financial, social, human, and climate dimensions. “We debate these factors rigorously in our investment committee,” Lena shared. “It’s not just about profit - it’s about uplift.”

This dual-bottom-line approach is exemplified by Temasek’s Ecosperity platform, which fuses ecology and prosperity. “We believe in maximizing purpose and profit,” Lena said. “Sustainability isn’t a trade-off - it’s a multiplier.”

Franchise Value in Action

Lena highlighted recent investments in family-owned businesses in Italy and India. In both cases, Temasek’s brand trust - not just its capital - was the deciding factor. “They chose us because of our DNA,” Lena explained. “We share their vision of multi-generational wealth and legacy.”

This ability to reshape conversations, unlock access, and become the partner of choice is what Temasek defines as franchise value. It’s not measured in impressions or clickthroughs - it’s measured in trust, discretion, and long-term alignment.

Final Reflections

Temasek’s brand is more than a strategic asset - it’s a strategic identity. It enables diplomacy, unlocks partnerships, and anchors purpose in every investment. As Lena concluded, “Our purpose is for every generation to prosper. That means financial prosperity, yes - but also human, climate, and community prosperity.”

In a world where capital is abundant but trust is scarce, Temasek’s brand offers a masterclass in strategic differentiation.