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Sovereign Wealth Funds Briefing 01.Sep 2014

Posted on 01 September 2014 by VRS |  Email |Print

Singapore sovereign wealth fund GIC’s US$104 million investment in Taiwan’s KKBOX has raised hopes about investor appetite for start-ups, and comes as the music streaming industry is becoming a force to be reckoned with. GIC said on Thursday that it had taken an equity investment in KKBOX, a Taiwan music streaming service that claims more than 10 million users in Taiwan, Japan, Hong Kong, Singapore, Malaysia and Thailand.
KKBOX co-founder and chief executive Chris Lin said the proceeds of the investment would be used to fund the company’s overseas expansion and to improve technology and service……………………………………….Full Article: Source

Posted on 01 September 2014 by VRS |  Email |Print

The RM6 billion to be injected into troubled Malaysia Airlines (MAS) is not a bailout, said state national fund Khazanah Nasional Berhad, as it unveiled a massive revamp today to turn the national carrier around. Khazanah managing director Tan Sri Azman Mokhtar said the money can be recovered when the flag carrier is projected to attain profitability by the end of 2017, and when it prepares for relisting between 2018 and 2020.
“The RM6 billion is not a bailout and can be recovered,” he said after announcing details of the restructuring plan. Over the last ten years, Khazanah had pumped RM7 billion into the ailing airline, with RM5.7 billion alone in the last five years through three rights issues………………………………………..Full Article: Source

Posted on 01 September 2014 by VRS |  Email |Print

A new investment manager responsible for a small chunk of the $1.2 trillion portfolio held by Japan’s giant public pension fund says it expects to buy stocks in midsize companies that appear cheap relative to the broader market and have decades of steady profits.
Appointed in April to manage 100.4 billion yen ($967 million) of the Government Pension Investment Fund’s (GPIF) 20.8 trillion yen in Japanese equities, Eastspring Investments’ approach offers an insight into how the world’s biggest institutional investor’s money will be used………………………………………..Full Article: Source

Posted on 01 September 2014 by VRS |  Email |Print

Bahrain Mumtalakat Holding Company (Mumtalakat), the investment arm of Bahrain, has launched the Mumtalakat-INSEAD International Directors Programme, in partnership with international business school INSEAD. It is a corporate governance training initiative for its nominee directors appointed to the boards of its portfolio companies.
The senior executive training progamme was held under the patronage of Deputy Prime Minister and Mumtalakat chairman Shaikh Khalid bin Abdulla Al Khalifa, and INSEAD has designed the customised executive development and training programme to provide Mumtalakat’s existing and newly appointed directors with an overview of practical and tested frameworks as well as tools to refine judgment, sharpen decision making and augment their oversight abilities………………………………………..Full Article: Source

Posted on 01 September 2014 by VRS |  Email |Print

KazMunaiGas Onimderi (KMGO) is taking all necessary measures for a smooth selling of oil products at the filling stations of KazMunaiGas, and to saturate the retail market of fuel and lubricants.
KMGO is a 100-percent subsidiary of the KazMunaiGas - Processing and Marketing Joint-Stock Company. KazMunaiGas’ shares are wholly owned by the Samruk-Kazyna National Welfare Fund………………………………………..Full Article: Source

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