SINGAPORE – State investor Temasek was recognised on Thursday (Aug 26) for its longstanding partnership with Indonesia and its efforts in strengthening bilateral relations between Indonesia and Singapore.

It received the inaugural Adinata Award, or Award for Excellence, from the Embassy of Indonesia in Singapore in a ceremony that was streamed online.

The award will be given out annually, to an individual or institution in Singapore that has increased understanding between Indonesia and Singapore and built better relations between both countries.

Indonesia’s Ambassador to Singapore Suryo Pratomo said Temasek and its portfolio companies have been investing steadily in Indonesia over the years.

It also supported Indonesia in the provision of training, education scholarship and donations during the Covid-19 pandemic, he added.

“Temasek has proven that Singapore is one of those loyal friends that offers its hands in such uncertain times to stay united and work together, jointly dealing with common challenges,” he said.

Temasek International executive director and chief executive Dilhan Pillay said in a speech during the ceremony that the award reaffirms the close partnership between both countries.

“We will continue to work with you, both as an investor, but more importantly, as a friend,” he said, noting that Temasek Foundation and a group of donors from Indonesia and Singapore had last month provided more than 12,000 oxygenators to Indonesia amid the Covid-19 pandemic.

There are many opportunities for Temasek to work with businesses from Indonesia, potentially investing in them or with them, Mr Pillay noted.

“We have invested steadily in Indonesia over the years. Likewise, several of our portfolio companies such as DBS Bank, Sembcorp Industries and Singtel have had longstanding partnerships and a presence in Indonesia.”

Indonesia’s digital economy holds great promise, he added, because of strong fundamentals such as a large population with growing income, and a rapidly developing digital ecosystem.

Both countries’ foreign ministers attended the ceremony virtually.

Singapore’s Dr Vivian Balakrishnan said: “Today, Temasek is also an active contributor to the economic and to the people-to-people ties.”

He highlighted the spirit of “gotong royong” – a Malay expression for a community that mobilises itself to help others – and mutual aid between both countries, in responding to the pandemic and meeting urgent humanitarian needs.

His Indonesian counterpart Retno Marsudi said she appreciated the support by Singapore’s Government and Singaporeans for Indonesia’s pandemic recovery effort.

She added: “I hope that (Temasek’s) longstanding commitment in bringing people of the two countries closer together will be an inspiration for many.”

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