Temasek Holdings, Singapore's government-linked investment company and one of Asia's largest investment companies, announced on Wednesday the establishment of a 500 million Singapore dollars (about 330 million U.S. dollars) Temasek Trust and the Temasek Foundation.

According to Channel NewsAsia reports, the trust and foundation will help improve Temasek Holdings' image in Asian markets, where it is expanding aggressively.

Temasek hopes to benefit from and contribute to Asia's growth and development through its role as a long-term investor in Asia, and through its contributions as a corporate citizen, Temasek Holdings's Chairman S. Dhanabalan was quoted as saying.

The trust, which will disburse 4 percent of its endowment funds every year to fund worthy programs supported by the Temasek Foundation, is founded by four eminent leaders from Asia's business and community sectors.

The Temasek Foundation will promote development in Asia through education, healthcare, research and cross-cultural exchanges.

Temasek Holdings, established in 1974, is committed to maximizing long-term shareholder value as an active investor and shareholder of successful enterprises. It also manages a diversified global portfolio of 90 billion Singapore dollars ( about 59.6 billion U.S. dollars), spanning Singapore, Asia and the economies of the Organization for Economic Cooperation and Development (OECD).