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Sovereign Wealth Funds Briefing 17.Dec 2014

Posted on 17 December 2014 by VRS |  Email |Print

The Russian government will support at least two out of oil major Rosneft’s seven projects for financing from the National Welfare Fund, Rosneft CEO Igor Sechin said on Tuesday.
“We have submitted the list of projects to the government and we know that a number of the projects will be supported,” Sechin said. Rosneft will not give up the proejcts that will be financed from the National Welfare Fund, he added…………………………………..Full Article: Source

Posted on 17 December 2014 by VRS |  Email |Print

In early September, Li Jiange, the vice-chairman of Central Huijin Investment, said something rather puzzling while speaking at a banking conference in Germany. “When we invest in China, efficiency and investment return has gone down,” he said, through a translator. “If we can then expand abroad, then we are highly interested in looking into European banks.”
It may not sound much, but it was an important statement. Central Huijin is a unit of China’s $653bn sovereign wealth fund, China Investment Corp. CIC is powerful but opaque. Outside asset managers find its inner workings and objectives difficult to fathom…………………………………..Full Article: Source

Posted on 17 December 2014 by VRS |  Email |Print

For the more political-aware and savvy people of Malaysia, the name Datuk Seri Khairuddin Abu Hassan would probably ring a bell. He was propelled into the limelight when he published the controversial book “50 Dalil Kenapa Anwar Ibrahim Tidak Boleh Jadi PM” that was used against Anwar and eventually contributed to the former Deputy Prime Minister’s sacking from the government in 1998.
Last Friday, the Batu Kawan Umno division deputy chief managed to make the headlines once again when he lodged a police report against 1Malaysia Development Bhd (1MDB). Khairuddin, who said he was acting for the sake of public interest, called for ‘detailled and comprehensive’ investigation, and urged the authorities to interrogate 1MDB’s directors as well as representatives of any company that might be implicated in its scandals…………………………………..Full Article: Source

Posted on 17 December 2014 by VRS |  Email |Print

PKR today questioned the timing of a special state assembly meeting to discuss the implementation of hudud in Kelantan, just as Umno and Barisan Nasional were thrust firmly under the 1Malaysia Development Berhad (1MDB) spotlight.
Its central committee member, Latheefa Koya, asked why the issue was brought up at the same time when the controversial sovereign wealth fund was dominating the headlines in the country…………………………………..Full Article: Source

Posted on 17 December 2014 by VRS |  Email |Print

The highly anticipated meeting between Jentayu Danaraksa Sdn Bhd and Khazanah Nasional Bhd to discuss the unknown firm’s RM8.75 billion plan to save ailing Malaysia Airlines (MAS) have been postponed indefinitely.
The Malaysian Insider understood no reason was given by the state sovereign fund for the delay. The directors of the three-month company, led by its chairman, former MAS managing director Tan Sri Abdul Aziz Abdul Rahman, were to meet Khazanah officials at 5pm today to present its proposal, which it insisted is complementary to the national sovereign wealth fund’s 12-point restructuring plan aimed at turning the flag carrier around…………………………………..Full Article: Source

Posted on 17 December 2014 by VRS |  Email |Print

Jentayu Danaraksa Sdn Bhd is disappointed with the sudden cancellation of its meeting with Khazanah Nasional Berhad to discuss its RM8.75 billion plan to save ailing Malaysia Airlines (MAS).
Confirming The Malaysian Insider report on the indefinite postponement of its meeting with the state sovereign fund this afternoon, Jentayu managing director Feriz Omar said they were surprised with this latest development. “At the request of Khazanah, our meeting with them has been cancelled. We are disappointed because we were not given the chance to brief them thoroughly on our proposed plan…………………………………..Full Article: Source

Posted on 17 December 2014 by VRS |  Email |Print

Qatar Investment Authority, the sovereign-wealth fund seeking to gain control of London’s Canary Wharf financial district, bought the headquarters of HSBC Holdings Plc from the National Pension Service of Korea.
JPMorgan Chase & Co., which advised NPS, announced the sale of 8 Canada Square in Canary Wharf in a statement yesterday without giving the price. Qatar paid about 1.2 billion pounds ($1.9 billion), according to a person with knowledge of the deal who asked not to be identified because the information is private…………………………………..Full Article: Source

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