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E-Conomy SEA Is a Multi-Year Research Program Launched by Google and Temasek in 2016
1 2 Reference e-Conomy SEA is a multi-year research program launched by Google and Temasek in 2016. Bain & Company joined the program as lead research partnerin 2019. The research leverages Bain analysis, Google Trends, Temasek research, industry sources and expert interviews to shed light on the interneteconomy in Southeast Asia. The information included in this report is sourced as “Google, Temasek and Bain, e-Conomy SEA 2020” except from third parties specified otherwise. Disclaimer The information in this report is provided on an “as is” basis. This document was produced by Google, Temasek, Bain and other third parties involved as of the date of writing and are subject to change. It has been prepared solely for information purposes over a limited time period to provide a perspective on the market. Projected market and financial information, analyses and conclusions contained herein should not be construed as definitive forecasts or guarantees of future performance or results. Google, Temasek, Bain or any of their affiliates or any third party involved makes no representation or warranty, either expressed or implied, as to the accuracy or completeness of the information in the report and shall not be liable for any loss arising from the use hereof. Google does not endorse any of the financial analysis in this report. Google internal data was not used in the development of this report. 3 5th edition of e-Conomy SEA by Google, Temasek, Bain Southeast Asia’s Internet economy research program 2016 2017 2018 2019 2020 e-Conomy SEA e-Conomy -
Our Journey Has Just Begun
Temasek Review 2014 Review Temasek Our journey has just begun Temasek Review 2014 Our journey has just begun Cover: Sherlyn Lim on an outing with her sons, Amos and Dean, on Sentosa Island, Singapore. Our journey has just begun The world is fast changing around us. Populations urbanise, and life expectancies continue to rise. We are entering a new digital age – machines are increasingly smarter, and people ever more connected. Change brings unprecedented challenges – competing demands for finite resources, safe food and clean water; health care for an ageing population. Challenges spawn novel solutions – personalised medicine, digital currencies, and more. As investor, institution and steward, Temasek is ready to embrace the future with all that it brings. With each step, we forge a new path. At 40, our journey has just begun. TR2014_version_28 12.00pm 26 June 2014 Contents The Temasek Charter 4 Ten-year Performance Overview 6 Portfolio Highlights 8 From Our Chairman 10 Investor 16 Value since Inception 18 Total Shareholder Return 19 Investment Philosophy 20 Year in Review 24 Looking Ahead 26 Managing Risk 28 Institution 34 Our MERITT Values 36 Public Markers 37 Our Temasek Heartbeat 38 Financing Framework 42 Wealth Added 44 Remuneration Philosophy 45 Seeding Future Enterprises 48 Board of Directors 50 Senior Management 57 2 Temasek Review 2014 Contents Steward 60 Trusted Steward 62 Fostering Stewardship and Governance 67 Social Endowments & Community Engagement 68 Touching Lives 72 From Ideas to Solutions 74 Engaging Friends 75 Temasek International Panel 76 Temasek Advisory Panel 77 Group Financial Summary 78 Statement by Auditors 80 Statement by Directors 81 Group Financial Highlights 82 Group Income Statements 84 Group Balance Sheets 85 Group Cash Flow Statements 86 Group Statements of Changes in Equity 87 Major Investments 88 Contact Information 98 Temasek Portfolio at Inception 100 Explore Temasek Review 2014 at www.temasekreview.com.sg or scan the QR code 3 TR2014_version_28 12.00pm 26 June 2014 A journey of a thousand miles begins with a single step. -
Singapore Archaeology Level 1 Permanent Galleries Trade and Maritime Silk Route
Large Print Guide Singapore Archaeology Level 1 Permanent Galleries Trade and Maritime Silk Route 0 Floorplan of Gallery and User Guide TP B CA AB C B CB AA D E F I H 1 How to read display case and floorplans AA.1 find object label text, match AA.1 to AA.1, then AA.2 to AA.2 and so on. AA.1 Celadon fragments China, Longquan kilns, 14th century Excavated from Empress Place Stoneware 2 How to read text panels & floorplans TP TP To find text panel, match TP to TP TP Trade and profit in ancient Singapore Singapore lies on the tip of the Malay Peninsula, at the entrance to the Straits of Malacca. 3 TP 4 TP Trade and profit in ancient Singapore Singapore lies on the tip of the Malay Peninsula, at the entrance to the Straits of Malacca. Such a pivotal position between East and West led to the flourishing of a port beginning in the 13th century. At different times China allowed or prevented overseas trade. Periods of long-distance shipping in the 9th and 11th centuries were followed by periods when the ports were closed. In the 13th century, Chinese merchants began arriving in Singapore to buy wood, cotton, and hornbill casques. In return they sold ceramics and foodstuffs. Temasek, a bustling port of the 14th century Ancient Singapore was called Temasek, which means “sea port” in Old Javanese. Founded in 5 the late 13th century, it flourished in the following century, in part because China’s Yuan dynasty encouraged overseas shipping. -
George Yeo, Minister
National Archives of Release No.: 23/NOV 03B-l/94/11/09 SPEECH BY BG (NS) GEORGE YEO, MINISTER (INFORMATION AND THE ARTS) AND (HEALTH), AT THE OPENING OF THE LEGACY OF MAJAPAHIT AT THE NATIONAL MUSEUM ON WEDNESDAY, 9 NOVEMBER 1994 AT 6.00 PM To many Singaporeans, Majapahit is an ancient empire we read of only in the pages of a history textbook. The Kingdom of Majapahit ruled by Hindu Kings was the largest empire ever established in Southeast Asia from the 13th century to the 16th century. It was founded in East Java in 1294, exactly 700 years at the end of Kublai Khan's invasion. In the 14th century, Majapahit became a great centre of power in the entire Malay Archipelago. Its sway spread over much Administratively the empire was loosely bound by tribute paid in products and services to the centre by small states in the region including old Singapore, then known as Temasek. In the 15th century it was gradually torn apart by civil war. The trading ports of Java's north coast, where Islam was becoming popular, came into conflict with the traditional centre of power in the rice-growing interior. Majapahit authority in the Malacca Straits was increasingly contested by an emergent Malacca. By the time the Portuguese conquered Malacca in 1511, only a shell was left of Majapahit. Through archaeology and historical writings, we know that Majapahit had a major influence on the politics and culture of old Singapore. Both the 14th Century poem, Nagarakertagama and the 17th century Pararaton (Book of Kings) mentioned Temasek as part of the Majapahit empire. -
International Seminar for UNESCO Integral Study of the Silk Roads: Roads of Dialogue: “Manila As an Entrepot in the Trans-Pacific Commerce”
International Seminar for UNESCO Integral Study of the Silk Roads: Roads of Dialogue: “Manila as an entrepot in the trans-pacific commerce”. 5-6, February, 1991. Manila, The Philippines. Twentieth Century Trengganu: The Royal Birth-Marks of the Melakan Empire Shaharil Talib The picture-book Trengganu Sultanate facing the South China Sea experienced overwhelming change in the last quarter of the twentieth century. Its leap into the global industrial economy was spectacular with the discovery of off-shore oil and gas in the 1970s. Massive infra-structure building in recent decades linked this flood-prone Sultanate of 14 river systems with major ports, commercial and administrative centres of east and west coast Peninsular Malaysia. Equally important advances were made in the agriculture sector. Although production capital arrived in the late nineteenth century1, in 1964 only 20,000 acres were committed to plantation agriculture. Ten years later it grew phenomenally to bring under cultivation a further 210,000 acres and this expansion continued to spiral in the next decade, spearheaded by the massive Trengganu Tengah Development Scheme.2 Standing back from these breath-taking changes, there is yet another unheralded discovery that awaits announcement to the world. The twentieth century Sultanate of Trengganu is the successor of the grand traditions of 15th century Melaka. The cultural heritage of the Melakan trading diaspora never floundered in the marsh-lands of Johor as was made out by leading colonial scholars such as Sir R.O. Winstedt. Indeed, it was only five years ago that an unknown Trengganu Tuhfat al-Nafis (The Precious Gift) manuscript surfaced, which dramatically altered previous interpretations of Malaysian history.3 The discovery of the manuscript placed the Sultanate of Trengganu as the successor of Melaka - the 15th century emporia of the silk route in scholar’s attention to the regal traditions of twentieth century Trengganu Sultanate, which distinctly bore the four hundred year-old Royal birth-marks of Melaka. -
Environment, Trade and Society in Southeast Asia
Environment, Trade and Society in Southeast Asia <UN> Verhandelingen van het Koninklijk Instituut voor Taal-, Land- en Volkenkunde Edited by Rosemarijn Hoefte (kitlv, Leiden) Henk Schulte Nordholt (kitlv, Leiden) Editorial Board Michael Laffan (Princeton University) Adrian Vickers (Sydney University) Anna Tsing (University of California Santa Cruz) VOLUME 300 The titles published in this series are listed at brill.com/vki <UN> Environment, Trade and Society in Southeast Asia A Longue Durée Perspective Edited by David Henley Henk Schulte Nordholt LEIDEN | BOSTON <UN> This is an open access title distributed under the terms of the Creative Commons Attribution- Noncommercial 3.0 Unported (CC-BY-NC 3.0) License, which permits any non-commercial use, distri- bution, and reproduction in any medium, provided the original author(s) and source are credited. The realization of this publication was made possible by the support of kitlv (Royal Netherlands Institute of Southeast Asian and Caribbean Studies). Cover illustration: Kampong Magetan by J.D. van Herwerden, 1868 (detail, property of kitlv). Library of Congress Cataloging-in-Publication Data Environment, trade and society in Southeast Asia : a longue durée perspective / edited by David Henley, Henk Schulte Nordholt. pages cm. -- (Verhandelingen van het Koninklijk Instituut voor Taal-, Land- en Volkenkunde ; volume 300) Papers originally presented at a conference in honor of Peter Boomgaard held August 2011 and organized by Koninklijk Instituut voor Taal-, Land- en Volkenkunde. Includes bibliographical references and index. ISBN 978-90-04-28804-1 (hardback : alk. paper) -- ISBN 978-90-04-28805-8 (e-book) 1. Southeast Asia--History--Congresses. 2. Southeast Asia--Civilization--Congresses. -
SINGAPORE AS a NINETEENTH CENTURY MIGRATION NODE Carl
SINGAPORE AS A NINETEENTH CENTURY MIGRATION NODE Carl A. Trocki This essay looks at the emergence of Singapore as a key migration node for Chinese. In addition to being a major destination for Chinese leaving China during the nineteenth century, Singapore itself became a major staging area for further Chinese migrations, both labor and other wise. The first aim of this paper is to look at the port’s function as a labor market. In addition to acting as an entrepot for goods, it was also an entrepot for labor—importing “coolies” from China and exporting them to other destinations both in the Archipelago and the western parts of Southeast Asia, and also to points beyond such as Western Australia, Mauritius, etc. In addition to Singapore, the other Straits Settlements of Penang and Malacca, to some extent, had acquired a similar function. Nevertheless, Singapore emerged as the main migration node in the region feeding the flow of humanity to the other two settlements as well as the rest of the region. The second aim is to examine the other migratory stream that flowed out of Singapore: that of the “Baba” or Straits-born Chinese. They rep- resented the opposite end of the social and economic scale from the coolies. Born in Singapore or the other Straits Settlements, they were generally from the well-established, often well-to-do families that had already found a measure of success in the Singapore economy. Many even traced their roots back to Malacca and Java where their ancestors had lived since as early as the seventeenth century. -
ZULFAQAR Journal of Defence Management, Social Science & Humanities
Teh / Zulfaqar J. Def. Mgt. Soc. Sci. Hum. 2 (2) 2019 Zulfaqar J. Def. Mgt. Soc. Sci. Hum. Vol.2 Issue 2 (2019) 86-95 ZULFAQAR Journal of Defence Management, Social Science & Humanities Journal homepage: https://zulfaqar.upnm.edu.my/ RISE AND FALL OF THE KINGDOM OF MALACCA IN THE CONTEXT OF IBN KHALDUN’S CYLICAL THEORY Wan Hashim Wan Teha a Faculty of Defence Studies & Management, National Defense University of Malaysia, Sg. Besi Camp, 57000 Kuala Lumpur, Malaysia *Corresponding author: [email protected] ARTICLE INFO ABSTRACT Article history: Malacca which had a humble beginning as a fishing village of a mixed population of Received local Malays and ‘orang laut’ was transformed to become the most significant 01-11-2018 trading emporium and entreport after the arrival of a ‘fugitive prince’ Received in revised Parameswara or ‘Permai-Suara’ later re-named as Iskandar Shah from Temasik 28-10-2019 (Singapore) having his origins from Palembang. This had attracted not only Accepted regional traders of the Malay world but also those engaged in long distance trade 30-11-2019 like the Indians, Arabs, Chinese and especially the European powers. Under the Available online capable leadership of Tun Perak, also known as Bendahara Seri Maharaja during 31-12-2019 Sultan Muzaffar, Sultan Mansur and Alauddin Riayat Shah, it became a regional centre to supply products from the spice islands as well as iron and gold from the Keywords: hinterland that were in great demand in Europe, the Middle East, India and China. Parameswara, entreport The capability of its defence was further enhanced with the protection it received trade, Ibn Khaldun’s from the Ming dynasty of China which had a symbiotic and affective diplomatic relationship with Malacca. -
Wood for the Trees: a Review of the Agarwood (Gaharu) Trade in Malaysia
WOOD FOR THE TREES : A REVIEW OF THE AGARWOOD (GAHARU) TRADE IN MALAYSIA LIM TECK WYN NOORAINIE AWANG ANAK A REPORT COMMISSIONED BY THE CITES SECRETARIAT Published by TRAFFIC Southeast Asia, Petaling Jaya, Selangor, Malaysia © 2010 The CITES Secretariat. All rights reserved. All material appearing in this publication is copyrighted and may be reproduced with permission. Any reproduction in full or in part of this publication must credit the CITES Secretariat as the copyright owner. This report was commissioned by the CITES Secretariat. The views of the authors expressed in this publication do not however necessarily reflect those of the CITES Secretariat. The geographical designations employed in this publication, and the presentation of the material, do not imply the expression of any opinion whatsoever on the part of the CITES Secretariat concerning the legal status of any country, territory, or area, or its authorities, or concerning the definition of its frontiers or boundaries. ~~~~~~~~~~~~~~~~~~ The TRAFFIC symbol copyright and Registered Trademark ownership is held by WWF. TRAFFIC is a joint programme of WWF and IUCN. Suggested citation: Lim Teck Wyn and Noorainie Awang Anak (2010). Wood for trees: A review of the agarwood (gaharu) trade in Malaysia TRAFFIC Southeast Asia, Petaling Jaya, Selangor, Malaysia ISBN 9789833393268 Cover: Specialised agarwood retail shops have proliferated in downtown Kuala Lumpur for the Middle East tourist market Photograph credit: James Compton/TRAFFIC Wood for the trees :A review of the agarwood (gaharu) -
Sojourning Communities, Ports-Of-Trade, and Agrarian-Based Societies in Southeast Asia's Eastern Regions, 1000-1300
1 “Sojourning Communities, Ports-of-Trade, and Agrarian-Based Societies in Southeast Asia’s Eastern Regions, 1000-1300” Kenneth R. Hall, Professor of History, Ball State University Muncie, Indiana 47306, USA/[email protected] This paper addresses the developing international trade routes in the Philippines, Borneo, and the eastern Indonesian archipelago during the era of the Song and Yuan dynasties, c. 1000-1300. Most of the previous work on this topic has focused on the documentation supplied in the limited Song- and Yuan-era texts, which consist of the records of the Song merchant shipping offices (shih possu) at Guangzhou, Hangzhou, Quanzhou, and Mingzhou that record the assorted commodities imported and exported through the principle south China ports-of-trade; the Song and Yuan court records of tributary missions to and from Southeast Asia's courts (e.g., Sung hui- yao chi-kuo; Sung shih); and other texts by Chinese authors who provide their collected overviews and commentaries on the trade routes, the most notably of which is the perspective of the Song-era port superintendent Zhao Rugua (1225; Zhufan zhi) and the Yuan era accounts of Chen Dazhen (1304; Dade Nanhai zhi) and Wang Dayuan (1349; Daoyi zhilue). This paper's major contribution is its additional consideration of the archeological evidence derivative of Southeast Asian excavations over the past fifty years, the importance of the distribution and concentration of Chinese ceramics and epigraphic references as these provide local evidence that confirms or modifies the Chinese overviews and court records. The local evidence especially counters the Chinese affirmation of continuity among the regional polities that submitted to China's tributary system; the reality was instead periodic transition among several port-polity centers and early Chinese references to place must be considered regional or coastline inclusive rather than specific to a single and continuous port. -
Temasek Overview 2019 Today, Our World Faces Its Most Urgent Crisis
Temasek Overview 2019 Today, our world faces its most urgent crisis. Look at the melting polar ice caps, weather extremes, floods and droughts. Think what it means if we let our planet go past the tipping point of 1.5 degrees Celsius – we are already one degree warmer, and will soon hit half a degree more if we do nothing. Act boldly and purposefully to reduce pollution and waste, and halve our carbon emissions by 2030. Temasek stands ready to invest for a cooler, better world – one that is more sustainable for people, lives and livelihoods. Let’s do well, do right, do good. Now, together… before it’s too late. The Temasek Charter An active investor A forward looking A trusted and shareholder institution steward We deliver We act with integrity We strive for the sustainable value and are committed advancement of over the long term to the pursuit our communities of excellence across generations ell w o D D o r i g h D t Explore Temasek Review 2019 at o temasekreview.com.sg or scan the QR code go od Enjoying the lush greenery at Punggol Waterway Park. Contents Ten ‑ year Performance Overview 4 Institution 24 Portfolio Highlights 5 A Forward Looking Institution 26 From Our Chairman 6 Our People and Values 27 The DNA of Temasek 10 Our Temasek Heartbeat 28 Changes in Accounting Standards 12 Financial Discipline 30 Investor 14 Public Markers 31 How We Invest 16 Credit Quality 32 How We Grew 17 Instilling Ownership 34 Investment Update 18 Steward 36 How We Manage Risks 20 A Trusted Steward 38 12 ‑ monthReturnsOutlook 21 Sustaining Our Planet 40 20 ‑ yearReturnsOutlook 22 Enabling a Better World 42 Making a Difference 44 Group Financial Summary 46 Major Investments at a Glance 54 Our Contact Points 56 Ten‑yearPerformanceOverview We ended the year with a net portfolio value of S$313 billion1. -
A Short History of South East Asia
1 A Short History of South East Asia Foreword. ........................................................................................... 3 Chapter 1. Early Movements of PeopIes : Indian Influence:The First States on the Mainland....................................................................... 4 Cambodia (Funan)...................................................................... 4 Malaya...................................................................................... 4 Vietnam. ................................................................................... 4 Burma. ..................................................................................... 4 Thailand and Laos. ..................................................................... 5 Cambodia (Chen-La and Angkor). ................................................. 5 Chapter 2. The "Indianised" Empires of Sumatra and Java. ........................ 6 Chapter 3. The Repercussions of the Mongol Conquest of China. ................. 8 Thailand (Siam). ........................................................................ 8 Cambodia.................................................................................. 8 Laos. ........................................................................................ 8 Vietnam. ................................................................................... 8 Burma. ..................................................................................... 9 Chapter 4. The Coming of Islam. ...........................................................10