Temasek Keuhne and Nagel

Left to right: Uwe Krueger, head business services Temasek; Dr. Joerg Wolle, chairman Kuehne + Nagel; Tan Chong Lee, president & head Europe and Southeast Asia Temasek; Juliet Teo, head transportation & logistics Temasek; Dr. Detlef Trefzger, CEO Kuehne + Nagel

Temasek and Keuhne + Nagel International AG have signed a memorandum of understanding to establish a joint venture investing in technology to advance global logistics and supply chains.

Temasek is a Singapore based investment company covering a broad spectrum of industries, with an interest in long term trends.

The joint venture with logistics giant Keuhne + Nagel will seek to grow early stage companies who are looking to transform traditional business models in logistics that improve efficiency and provide value for consumers.

This kind of investment could have a positive flow on effect for fresh produce stakeholders who are transporting and trading fruit and veg.

“The opportunities presented by the growth of technology and its application across sectors have been an increasing focus for Temasek,” said Tan Chong Lee, president and head of Europe & Southeast Asia at Temasek.

The focus on investment will be made toward technologies and services with the potential to transform traditional business models, improve efficiency and provide enhanced value proposition for consumers.