The government of Singapore held a stake of just over 1% in Reliance Industries

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(RIL), the energy-based conglomerate controlled by Mukesh Ambani, India's richest person, according to data as of December 31 on the company's website.

RIL is India's most valuable company, and the Singapore government's stake would be worth about $498 million based on the company's Monday closing price.

Shareholding data on the National Stock Exchange website as of the end of September does not identify the Singapore government as a holder of more than 1% of the company.

Singapore operates two of Asia's biggest sovereign wealth funds, the Government of Singapore Investment Corp, known as GIC, and Temasek Holdings