Temasek Trust to buy and revamp MoneyOwl to cater to needs of underserved groups
The Straits Times|November 29, 2023
Temasek Trust plans to buy over financial advisory firm MoneyOwl for an undisclosed sum and revamp it to meet the needs of underserved communities, such as essential and gig workers, as well as youth.
Colin Tan
Temasek Trust to buy and revamp MoneyOwl to cater to needs of underserved groups

“The move is aligned with Temasek Trust’s aims to uplift communities through holistic and inclusive education, and advance progress by building capacities,” said its chief executive Desmond Kuek on Nov 28.

“Together with like-minded partners across the public, private and philanthropic sectors, we want to repurpose MoneyOwl to bolster the financial well-being of community groups,” he added.

The trust is a steward of philanthropic assets from Singapore’s investment company Temasek Holdings and other donors.

A spokesman for the trust, when asked who the likely partners will be, said it is still too early to provide details “but we have some people in mind”.

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