Temasek CFO Png Chin Yee to lead Singapore portfolio unit
Png will become president of Temasek Singapore in October as the state investment firm reorganizes its portfolio management structure.
By Sofia Marchetti · World Affairs Correspondent
3 min read
Temasek chief financial officer Png Chin Yee will leave the finance chief job in October to run the firm’s Singapore portfolio unit, Temasek said. The move puts a senior finance executive at the center of a broad restructuring by Singapore’s state-owned investment company.
Png will become president of Temasek Singapore, a newly defined leadership role overseeing major domestic portfolio companies. Temasek said Wendy Koh, now group CFO at Temasek-owned real estate group Mapletree, will become CFO-designate on Aug. 1 and take over fully on Oct. 1.
The Singapore unit includes holdings tied to some of the country’s best-known companies, including DBS, Singapore Airlines, Singtel and Seatrium, according to Fortune. The Straits Times reported that the companies under the unit employ more than 160,000 people in Singapore and generate about 200 billion Singapore dollars in revenue.
Temasek announced in April that it was reorganizing around three groups: global direct investments; Singapore-based Temasek portfolio companies; and partnerships, funds and asset management companies. Fortune described the overhaul as the firm’s largest restructuring in decades.
Temasek CEO Dilhan Pillay tied the shift to a more unsettled global investment environment at a 2025 press conference, according to Fortune. “The rules-based order that we’ve been used to, that we’ve been able to rely upon as an investment firm … is changing,” Pillay said, adding that the United States has a clear “America first” objective and other countries are working out how to operate in that framework.
Png has worked at Temasek since 2011 after a career at UBS, Fortune reported. Before becoming CFO in January 2023, she held senior roles including head of financial services and senior managing director for China investments. She succeeded longtime CFO Leong Wai Leng.
Temasek reported a net portfolio value of 434 billion Singapore dollars, or $342 billion, in 2025, according to Fortune. As of last March, Singapore-based companies accounted for 41% of holdings, while global direct investments made up 36% and partnerships, funds and asset managers made up 23%.
Temasek has said it wants to rebalance those buckets to roughly 40% global direct investments, 40% Singapore-based portfolio companies and 20% funds and asset managers. Png’s new post places her over the domestic portion of that target structure.
The transition also keeps two women with finance backgrounds in senior posts at the investment company. Fortune ranked Png No. 77 on its 2026 Most Powerful Women list, her third straight year on the ranking. Russell Reynolds Associates said women made up 21% of global incoming CFO appointments in 2025, down from 26% in 2024 but above 14% in 2019.
Png has also spoken publicly about responsible investing and selling. In a 2024 Temasek interview, she said divestments should consider employees, customers and minority shareholders, adding: “When we invest, we try to do it responsibly. And when we divest, we ensure we do that responsibly as well.”
Fortune reported that Png helped create the Temasek Women’s Network. In a recent LinkedIn post cited by Fortune, she wrote that leaders and early-career workers alike have “a duty to act” in raising women’s voices.
This story draws on original reporting from Fortune.