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VRS - who has written 19075 posts on Opalesque Sovereign Wealth Funds Briefing.


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Temasek Holdings set for deal to buy out SMRT: Sources

Posted on 19 July 2016

Singapore state investor Temasek Holdings is set to announce a deal this week to buy out the remaining nearly 46 per cent of SMRT Corp that it doesn’t already own, two sources with knowledge of the matter said.

Buyout of SMRT by Temasek will make it a pseudo Government agency

Posted on 19 July 2016

SMRT Corp announced a continuation of its trading halt today (18 Jul) pending a possible announcement. SMRT first announced a trading halt on Jul 15, where it was announced that its operating assets will come under the new rail financing framework from Oct 1.

Khazanah eyeing RM3.2b control of Hong Leong Financial Group

Posted on 19 July 2016

Khazanah Nasional Bhd, the sovereign wealth fund, is reportedly considering a RM3.2 billion bid for control of billionaire Quek Leng Chan’s Hong Leong Financial Group, according to Bloomberg News. Quek, chairman of Hong Leong Financial, is Malaysia’s fifth richest person with a net worth of USD4.3 billion, according to the Bloomberg Billionaires Index.

Saudi Push for Tech Deals Stirs Silicon Valley Debate

Posted on 18 July 2016

As Saudi Arabia and its oil-rich sovereign-wealth fund prepare to become bigger players in tech deal making, Silicon Valley insiders are weighing the consequences. Technology investors like to tout the social benefits of the companies they support. But the industry often overlooks investors’ own principles and beliefs, focusing more on their investment record and size [...]

Qatar bonds are likely to remain popular with investors

Posted on 18 July 2016

Qatar’s bonds are “likely to remain popular with investors” although sovereign creditworthiness in the Mena economies will broadly deteriorate over the coming quarters given rising interest rates, tightening liquidity and a slowdown in growth, a new report has shown.

Qatar Investment Authority’s purchase of Asia Square Tower One

Posted on 18 July 2016

The recent acquisition of the 43-storey Asia Square Tower One by Qatar Investment Authority, a sovereign wealth fund, has provided the flagging Singapore real estate market with a much-needed shot in the arm.

Kuwait maintains its investment perspective

Posted on 18 July 2016

Mixed sentiments keep emerging about the commercial and business sector in Kuwait. On a positive note, the much-awaited expansion of the airport is underway. Conversely, in an unprecedented move, a key rating agency assigned a negative outlook for the economy due to the phenomenon of low oil prices for two years now.

Trades with Goldman too complex for Libya’s SWF

Posted on 18 July 2016

Nine disputed trades that Libya’s sovereign wealth fund (SWF) entered into with Goldman Sachs were unsuitable by “dint of risk and complexity”, according to an expert witness at a trial in London’s High Court.

UK Government must create a sovereign wealth fund to save North Sea industry

Posted on 18 July 2016

Oil tycoon Algy Cluff is calling on the Government to create a sovereign wealth fund to save the North Sea industry and invest in a gas supply for the country after Brexit. Cluff, who founded and runs Cluff Natural Resources, wants the Government to take charge and invest in the face of the weakened oil [...]

Azerbaijan’s SOFAZ makes almost $120B from largest oil project

Posted on 18 July 2016

Revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the project for development of the Azeri-Chirag-Gunashli (ACG) block of fields totaled $119.314 billion from early 2001 to July 1, 2016, SOFAZ told Trend.

UBS, DBS, Falcon face Singapore scrutiny over 1MDB transactions-sources

Posted on 18 July 2016

Singapore’s central bank is scrutinising several banks, including UBS and DBS Group Holdings, to see if they broke anti-money laundering rules in handling transactions linked to scandal-hit Malaysian state fund 1MDB, three people with knowledge of the matter said.

Temasek Holdings leads financing for PureLiFi in tech expansion

Posted on 18 July 2016

Singapore’s state-owned investment firm Temasek Holdings is the lead investor in the latest round of financing by Edinburgh-based telecommunications company pureLiFi as it expands its technology holdings. The Series-B round brought pureLiFi’s total financing to more than US$10 million ($13.5 million), it said.

Temasek’s Fullerton Unit Hires JPMorgan’s Singapore Head

Posted on 18 July 2016

Singapore state investor Temasek Holdings’ Fullerton Financial Holdings has hired Yeo Hong Ping, JPMorgan & Co’s Singapore head of investment banking, as a senior member of its management team.

India’s sovereign wealth fund identifies first eight projects for investments

Posted on 15 July 2016

India’s maiden sovereign wealth fund National Investment and Infrastructure Fund (NIIF) has identified the first eight projects it plans to invest in. These include the Konkan Railways project, a power transmission project in the north region, and a few road projects, said a senior official of India Infrastructure Finance Co. Ltd (IIFCL).

Temasek Holdings Leads Financing for PureLiFi in Tech Expansion

Posted on 15 July 2016

Singapore’s state-owned investment firm Temasek Holdings Pte is the lead investor in the latest round of financing by Edinburgh-based telecommunications company pureLiFi as it expands its technology holdings.

JPMorgan’s Singapore investment bank head to join Temasek unit

Posted on 15 July 2016

Fullerton Financial Holdings, an arm of Singapore investment company Temasek Holdings, has hired Yeo Hong Ping for a senior management role. Yeo is joining from JPMorgan Chase & Co, where he has worked since 2000, most recently as head of Singapore investment banking, according to a person with knowledge of the matter.

Mixed martial arts: Singapore investor Temasek enters the ring

Posted on 15 July 2016

An arm of Singapore state giant Temasek Holdings is investing in Asian mixed martial arts (MMA) promoter One Championship, which is planning a share offer within three years, company officials said on Thursday (July 14).

Temasek not averse to distressed assets in India

Posted on 15 July 2016

Temasek Holdings is open to investing in distressed assets in India either directly or through an asset reconstruction firm, a senior executive has said. Ravi Lambah, however, added that the company has no firm plans to make such investments so far.

Singapore’s GIC invests in Hyundai Logistics Distribution Center

Posted on 15 July 2016

Singapore sovereign wealth fund GIC, formerly known as Government of Singapore Investment Corporation, joined a real estate fund that acquired newly-built Hyundai Logistics Distribution Center located in Incheon, South Korea, from its developer LogisKoel for $130 million, GIC said in a statement on Wednesday. It did not specify the value of its investment in the [...]

China Investment Corp Joins $181M Series C Round In Unity

Posted on 15 July 2016

China Investment Corporation has participated in a US$181 million series C financing round in Unity Technologies, a San Francisco-based video game engine maker. The round was led by DFJ Growth, with participation from Chinese venture firm FreeS Fund, Thrive Capital, technology entrepreneur Max Levchin, alongside existing investors Sequoia Capital and WestSummit Capital.

UBS ‘flagged shady 1MDB transactions’ to MAS

Posted on 15 July 2016

UBS Group flagged suspicious transactions linked to 1Malaysia Development Berhad (1MDB) to the Monetary Authority of Singapore (MAS), prompting an investigation of the accounts involved, a person familiar with the matter said. The transactions were not immediately recognised by UBS as suspicious, said the person, who asked not to be identified because the matter is [...]

Azerbaijan’s Central Bank, State Oil Fund sell $100M to local banks at auction

Posted on 15 July 2016

Azerbaijan’s State Oil Fund (SOFAZ) and Central Bank (CBA) each sold $50 million to 24 banks through an auction, SOFAZ said July 14. SOFAZ will continue selling foreign currency through auctions in 2016. The foreign currency is sold as part of SOFAZ’s transfers to the Azerbaijani state budget, which are envisaged to stand at 7.615 [...]

Goldman Sachs’ $5 billion Libya trades: most traders wouldn’t see that ‘in their lifetime’

Posted on 15 July 2016

An expert witness in the litigation between Goldman Sachs and Libya’s sovereign wealth fund said disputed trades of $5 billion were bigger than most traders would see in their careers, making the profits difficult to compare to industry standards.

The world’s top ten biggest sovereign wealth funds

Posted on 15 July 2016

In the midst of collapsing oil prices, oil-funded sovereign wealth funds (SWFs) are under pressure to liquidate assets, according to political risk advisory firm GeoEconomica. There was roughly a 20 per cent fall over the past year in the deposits and reserves stored in the Saudi Arabian Monetary Agency (SAMA) by the Saudi government, according [...]

The world’s 10 biggest sovereign wealth funds

Posted on 14 July 2016

In the midst of collapsing oil prices, oil-funded sovereign wealth funds (SWFs) are under pressure to liquidate assets, according to political risk advisory firm GeoEconomica. There was roughly a 20 per cent fall over the past year in the deposits and reserves stored in the Saudi Arabian Monetary Agency (SAMA) by the Saudi government, according [...]

Singapore’s Temasek looks to Silicon Valley for growth

Posted on 14 July 2016

Temasek Holdings is increasingly turning its attention to U.S. technology companies in search of new growth, after the value of the Singapore government-owned investment company’s assets dropped for the first time in seven years amid China’s economic slowdown and cheaper oil prices.

Temasek subsidiary punches into MMA with ‘eight-figure’ One Championship deal

Posted on 14 July 2016

Grappling with its first portfolio decline in 7 years, Singapore’s state-owned investment company Temasek Holdings is looking to mixed martial arts (MMA) to score a knockout amid a challenging economic climate.

GIC invests in fund that acquired South Korean logistics center

Posted on 14 July 2016

Singapore sovereign wealth fund GIC said on Wednesday (July 13) that it has invested in a real estate fund that has acquired the newly-built Hyundai Logistics Distribution Center in South Korea for US$130 million (S$175 million).

UBS said to have flagged suspicious 1MDB transactions to MAS

Posted on 14 July 2016

UBS Group flagged suspicious transactions linked to 1Malaysia Development Bhd (1MDB) to the Monetary Authority of Singapore (MAS), prompting an investigation of the accounts involved, a person familiar with the matter said.

Norwegian Government Pension Fund excludes 10 SEA-companies

Posted on 14 July 2016

The Norwegian central bank (Norges Bank) has, as the first in the world, excluded 52 companies from its Government Pension Fund based on the companies inexpedient use of coal in their business activities. Philippine Aboitiz Power (AP) and 7 Chinese and 2 Hong Kong companies was hit by the exclusion.

Brexit unlikely to hit GCC sovereign wealth funds – Moody’s

Posted on 13 July 2016

The UK’s vote to leave the European Union (EU) will have a “negligible” impact on GCC sovereigns’ credit ratings, Moody’s said in a statement on Tuesday. The rating agency said GCC sovereign wealth funds have limited trade exposure to the UK and their sheer size offers resilience against potential fluctuations in the value of their [...]

SWFs curb cross-border investments

Posted on 13 July 2016

Direct investments from sovereign wealth funds saw a 42 percent drop in the first half of the year compared with the same period in 2015, according to research from the Sovereign Wealth Fund Institute (SWFI).

Kuwaiti investments in the UK may hit by Brexit

Posted on 13 July 2016

Kuwaiti investments in the United Kingdom are expected to be hit by the United Kingdom’s decision to leave the European Union, although the impact of Brexit is expected to be “short-term and not large”, Undersecretary Khalifa Hamada said.

Temasek shifts focus to tech amid global search for yield

Posted on 13 July 2016

Telecommunications, media and technology have overtaken financial services in Temasek’s portfolio. Taking bets in the tech sector entails higher risk. Stock markets can be capricious, and even Temasek Holdings is at their mercy, as the company’s latest results show.

Singapore’s Temasek Holdings Leads Investors in ONE Championship Startup

Posted on 13 July 2016

Singapore’s state investment firm Temasek Holdings Pte Ltd is leading a round of investors in an Asian mixed martial arts startup. Heliconia Capital Management Pte. Ltd., an arm of Temasek that invests in Singapore-based small- and medium-size businesses, is heading a consortium pumping tens of millions of dollars into local mixed martial arts promoter ONE [...]

Temasek Holdings may invest in distressed assets

Posted on 13 July 2016

Singapore’s state-run investment firm Temasek Holdings Pte. Ltd is open to investing in distressed assets in India either through an asset reconstruction firm or directly, a senior executive said.

Temasek plans to invest in Indian real estate

Posted on 13 July 2016

Temasek Holdings is for the first time considering investment in real estate as an asset class in India. Last year, private equity-owned real estate funds invested $5 billion in India, which is the highest since the 2008 financial crisis, according to investment advisory firm Venture Intelligence.

Singapore’s Temasek remains upbeat on India even in the middle of global rough ride

Posted on 13 July 2016

The continued focus on local consumption and bets on emerging champions that have a distinctive advantage of being Indian remains the overriding thread of Temasek, even though the investment company of the Singapore government has suffered its first portfolio decline since the 2009 global financial crisis, pointing to more tough times ahead.

Pua asks whether Deloitte was hoodwinked by 1MDB

Posted on 13 July 2016

DAP lawmaker Tony Pua has questioned whether audit firm Deloitte Malaysia was “bluffed” by 1MDB into believing that the troubled state investment fund had redeemed its controversial Cayman Islands investment in 2014.

Wealth fund’s investment circuit breaker

Posted on 13 July 2016

A leading Philippine power-generation corporation has effectively been blacklisted from access to the world’s biggest sovereign wealth fund, Norway’s Government Pension Fund Global (GPFG), an oil fund with assets of US$847.6 billion.

Ascott Limited, Qatar Investment Authority buy Docklands Quest

Posted on 13 July 2016

The world’s biggest serviced-apartment operator and Qatar’s sovereign wealth fund have teamed up to acquire a new $71 million Quest apartment hotel, to be built at Melbourne’s Docklands.

Azerbaijan’s SOFAZ exploring possibilities of investing in Turkey

Posted on 13 July 2016

Azerbaijan’s state oil fund SOFAZ is exploring the possibilities of making investments in Turkey, Shahmar Movsumov, executive director of SOFAZ, said. “We constantly explore the possibilities of investing in the countries with favorable conditions,” said Movsumov. “Currently, we are exploring the opportunities for making investments in Turkey. It is a neighboring country and is of [...]

SOFAZ not affected by Brexit - executive director

Posted on 13 July 2016

Investments of State Oil Fund of Azerbaijan (SOFAZ) in pound sterling remained unchanged after Brexit referendum, SOFAZ Executive Director Shahmar Movsumov on Tuesday. He said SOFAZ was not affected by Brexit.

Excessive demand for currency has arisen in Azerbaijan: Oil Fund failed to cover it

Posted on 13 July 2016

The excessive demand for currency has arisen in Azerbaijan, and the State Oil Fund (SOFAZ) was not able to cover it itself. The Central Bank of Azerbaijan informs that today it has conducted a regular foreign exchange auction.

Azeri Central Bank Resumes Currency Sales to Meet Dollar Demand

Posted on 13 July 2016

The Azeri central bank resumed foreign-currency sales for the first time in more than four months to ease pressure on the national currency amid rising demand for dollars.

Sovereign wealth funds’ India holdings at a record high

Posted on 12 July 2016

Sovereign wealth funds held Rs2.18 trillion in Indian equities and Rs330.16 billion worth of Indian debt in May. Anybody who thought that sovereign funds are on their way out may be in for a surprise.

Singapore Wealth Funds Keen To Invest In India

Posted on 12 July 2016

Prominent wealth funds of Singapore have shown keen interest in investing in India, a senior Indian official said. “Lot of interest and deep appreciation in Singapore about reforms and policy initiatives in India,” Economic Affairs Secretary Shaktikanta Das said in a tweet about his ongoing visit to Singapore.

Sahara inks Rs 10k crore deal with ‘Qatar fund’ for sale of hotels

Posted on 12 July 2016

The Sahara group on Monday sought the Supreme Court’s clearance to its proposed sale of three overseas hotels to Qatar Investment Authority (QIA), which is part of Qatar’s sovereign wealth fund.

1MDB agrees to arbitration request filed by IPIC, Aabar over US$6.5b claim

Posted on 12 July 2016

1Malaysia Development Bhd (1MDB) said it has agreed today to the request for arbitration (RFA) filed by International Petroleum Investment Co (IPIC) and Aabar Investments PJS (Aabar) at the London Court of International Arbitration.

Tishman Speyer teams up with Qatari fund for $700M LIC project

Posted on 12 July 2016

Tishman Speyer is moving ahead with the construction of a 1.1 million s/f office and retail project in Long Island City. For the project, the company has formed a partnership with Qatari Diar, a sovereign wealth fund based in Lusail.

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