http://www.temasekholdings.com.sg/Temasek Holdings is an Asian investment firm headquartered in Singapore. Its portfolio spans various industries including telecommunications & media, financial services, real estate, transportation & logistics, energy & resources, infrastructure, engineering & technology as well as bioscience & healthcare. As of March 2007, the net value of its portfolio is more than US$100 billion, concentrated principally in Singapore, Asia and the OECD economies. Temasek's total shareholder return since its inception in 1974 has been more than 18% compounded annually. It has a corporate credit rating of AAA/Aaa by rating agencies Standard & Poor's and Moody's respectively. In December of 2007, Temasek Holdings invested $4.4 billion in Merrill Lynch (NYSE: MER) common stock.