Dilhan Pillay Sandrasegara, executive director and chief executive officer of Temasek Holdings and member of the Advisory Board of Tsinghua University School of Economics and Management (Tsinghua SEM), joined Professor He Ping, associate dean of Tsinghua SEM, for a Board Members in Dialogue with Tsinghua Students session on October 17, 2025.

The event brought together participants from various executive programs for an in-depth discussion on "Global Transformation and the Long-Term Perspective in Investment."

Drawing on Temasek's decades of experience in international investment, Sandrasegara outlined the company's strategic vision, its philosophy of investing for sustainable returns, and his confidence in China's long-term prospects.

Dilhan Pillay Sandrasegara delivers a lecture for the Board Members in Dialogue with Tsinghua Students session.

Sandrasegara observed that the world is at a pivotal moment of change: The predictability once brought by globalization has weakened, as technology, geopolitics, and climate change are reshaping global supply chains and capital flows. Regional diversity and decentralization are becoming more pronounced, he added.

"We are entering a multipolar world," Sandrasegara said, "one not defined by a single center, but by multiple engines of growth operating in parallel." He identified the United States, Europe, China, India, and Southeast Asia as key drivers of future global economic expansion.

In this new environment, Sandrasegara emphasized the need for both corporations and investors to rethink how they balance resilience with efficiency, paying attention to stability and long-term sustainability. He highlighted how technological advances, demographic changes, and climate challenges are reshaping business strategy and social development alike.

For Temasek, these shifts call for a new investment mindset, he said, focused not on chasing short-term returns but understanding change and the structural opportunities that will shape the future.

Sandrasegara outlined Temasek's core investment priorities, which include energy transition, digitization, artificial intelligence, life sciences, and sustainable living. "These sectors are not only essential for economic growth but also form the foundation of social progress," he said. He emphasized that Temasek has always adhered to the principle of "constructive capital," underpinned by the belief that capital should serve as a positive force for social progress rather than engaging in a passive pursuit of profit.

He added that sustainable value creation over the long run requires patience, discipline, and a clear understanding of one's goals and the ability to maintain direction even in an unpredictable environment.

Sandrasegara reaffirmed Temasek's confidence in the Chinese economy, given that its market scale, industrial depth, and engineering capability are "unique in the world," as seen from China's development shifting from quantity to quality. He described Chinese entrepreneurs as resilient and pragmatic, consistently demonstrating strong innovative capacity in an ever-changing environment.

"In sectors such as renewable energy, manufacturing, and the digital economy, we continue to see strong structural opportunities," he said. "China's long-term potential remains undeniable."

Dilhan Pillay Sandrasegara delivers a lecture for the Board Members in Dialogue with Tsinghua Students session.

During a Q&A session, participants raised questions on topics such as the application of artificial intelligence in investment research, global capital movements, and corporate leadership.

Sandrasegara noted that while AI can enhance efficiency in research and risk management, human judgment remains irreplaceable. "Technology must be combined with rational thinking and value judgment," he said.

He also shared his view of effective leadership, which he summarized in three words: trust, clarity, and courage. "Trust allows teams to express differing opinions freely; clarity gives a clear sense of direction; and courage enables leaders to make the right decisions even when outcomes are uncertain."

Speaking about Temasek's corporate culture, Sandrasegara highlighted the company's emphasis on openness and inclusion within a multicultural environment. Diversity, shared responsibility, and a common sense of purpose are the foundations of sustainable organizational growth, he said.

In his closing remarks, Professor He thanked Sandrasegara for sharing his observations, noting that his reflections not only offered profound insight on the evolution of globalization, but also reflected valuable inspiration for understanding corporate global strategy and sustainable development in the modern era. On behalf of Tsinghua SEM, He presented Sandrasegara with a pair of traditional Chinese calligraphy couplets, symbolizing the blending of cultures and ideas.

He Ping (right) presents a gift to Dilhan Pillay Sandrasegara.

Sandrasegara expressed gratitude to the school for providing an open platform for global dialogue and exchange, and encouraged participants to remain optimistic and unafraid of the future.

"Creativity often comes from the younger generation," he remarked. "The future will undoubtedly be brighter and better than the present and the past."

Group photo

Source: Executive Education

Editor: Ren Zhongxi