Wed, Sep 3, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Archive | July, 2012

Morgan Stanley may sell commodities-unit stake to Qatar SWF

Posted on 23 July 2012 by VRS  |  Email |Print

Morgan Stanley (MS) (MS) is in advanced talks to sell part of its commodities business to the Qatar Investment Authority for $1 billion or more, CNBC reported, citing unidentified people familiar with the matter.
Negotiations, which could still fall apart, have focused on selling a minority stake in the unit to the sovereign-wealth fund, CNBC said. Mary Claire Delaney, a spokeswoman for the bank, declined to comment on the report. There was no response to an e-mail sent to the Qatari fund’s press office………………………………………..Full Article: Source

Morgan Stanley, Qatari Fund may do commodities deal

Posted on 23 July 2012 by VRS  |  Email |Print

Morgan Stanley officials are in advanced talks with a Middle Eastern sovereign-wealth fund, the Qatar Investment Authority, about an investment in the bank’s commodities unit, say several people familiar with the matter, and a deal could be imminent.
Such a sake could give the Qatari fund a toehold in the robust global business of trading paper and physical stocks of commodities like crude oil, natural gas, and metals, while at the same time providing an influx of capital for Morgan Stanley………………………………………..Full Article: Source

Qatar seeks to diversify income sources by investing more abroad

Posted on 23 July 2012 by VRS  |  Email |Print

Qatar’s growing investments in foreign markets is part of the country’s strategy to diversify its income sources and protect its shield its economy against possible fall below expectations of oil and gas prices, economic experts said.
Hussein al-Abdullah, executive board member of the Qatar Investment Authority, has predicted the country’s investments abroad to reach more than $ 30 billion in 2012. Part of Qatar’s recent major investments abroad include London’s Shard Tower, a 3 percent stake in French oil giant Total, a 5-billion investment in the China’s stock market, the purchase of the building that houses Le Figaro newspaper in Paris, and the purchase of a 6 percent stake in Iberdrola, Spain’s biggest power utility………………………………………..Full Article: Source

Russia Direct Investment Fund makes second investment into Moscow Exchange MICEX-RTS

Posted on 23 July 2012 by VRS  |  Email |Print

The Russian Direct Investment Fund (RDIF) is a $10 billion fund established by the Russian government to make equity investments primarily in the Russian economy. The fund, which is in essence, the first sovereign wealth fund that functions as a private equity fund, announced its second investment in the MICEX-RTS exchange, in a transaction that will increase the funds stake to 2.7%.
The transaction was completed as a joint effort between RDIF and US-based, private equity firm Cartesian Capital Management. Cartesian will now own approximately 2.5% of the Moscow Exchange. The stakes were purchased from ZAO UniCredit Bank, based in Russia. UniCredit will still maintain a 6% stake in the exchange following the transaction………………………………………..Full Article: Source

Future Fund urged to quit tobacco investments

Posted on 23 July 2012 by VRS  |  Email |Print

The Greens’ push to force the Future Fund to ditch $225 million worth of tobacco shares has been supported by anti-smoking groups, who say the investments contradict government policy goals.
The taxpayer-owned fund, which has also invested in nuclear arms, revealed in May that the value of its tobacco shares had swelled by more than 50 per cent between late 2010 and this February………………………………………..Full Article: Source

Four sovereign wealth funds to invest in Reliance Communications’s undersea cable unit IPO

Posted on 20 July 2012 by VRS  |  Email |Print

Four sovereign wealth funds, including Singapore’s Temasek Holdings and China Investment Corp, have agreed to invest in the initial public offering of Reliance Communications Ltd’s undersea cable unit Global Telecommunication Infrastructure Trust.
Four souvereign wealth funds from Singapore, the Middle East and China have confirmed particiation of USD 250 to 300 million in the GTI Trust’s IPO, sources privy to the development said. Besides Temasek and CIC, Investment Corp of Dubai too has confirmed participation in Global Telecommunications Infrastructure Trust’s public offering in Singapore………………………………………..Full Article: Source

Reliance Comm unit extends Singapore IPO bookbuilding again-IFR

Posted on 20 July 2012 by VRS  |  Email |Print

Reliance Communications’ undersea cable unit has extended the bookbuilding period for its Singapore business trust IPO, worth up to $1 billion, until Friday, IFR reported. IFR said a sovereign fund from the Middle East and a Singapore-based institutional investor have shown a significant interest in the deal.
A source familiar with the process told Reuters that the company had received confirmation from four sovereign wealth funds to invest a total of more than $250 million in the IPO. Separately, Bloomberg cited three unnamed people with knowledge of the matter as saying Temasek and China Investment Corp had agreed to invest in the IPO………………………………………..Full Article: Source

Temasek to invest in GTI Trust’s Singapore IPO

Posted on 20 July 2012 by VRS  |  Email |Print

Temasek Holdings Pte and China Investment Corp. agreed to invest in Global Telecommunications Infrastructure Trust’s initial public offering in Singapore, said three people with knowledge of the matter.
GTI Trust (GTI), the undersea cable unit of Reliance Communications Ltd. (RCOM), is selling $250 million to $300 million of stock to four sovereign wealth funds as part of the IPO, said two of the people, who asked not to be identified as the details are private. It wasn’t immediately clear how much Temasek or CIC invested………………………………………..Full Article: Source

Chasing Temasek, China’s CIC explores broader investing role

Posted on 20 July 2012 by VRS  |  Email |Print

China Investment Corp is pumping billions of dollars into private equity firms in a move meant to boost returns at the sovereign wealth fund, with an eye on taking a more active role on dealmaking.
The shift marks a strategic milestone in CIC’s evolution from a slow paced, low return sovereign investor towards an institution following the so-called Harvard endowment model………………………………………..Full Article: Source

China’s dilemma - where to park all those funds?

Posted on 20 July 2012 by VRS  |  Email |Print

The People’s Bank of China buys more than $US2 billion of foreign exchange each working day from Chinese businesses and foreign investors to hold back the appreciation of the nation’s currency - the yuan.
This hoarding has resulted in an unprecedented expansion of country’s foreign exchange reserves. It has increased 160-fold from a measly $US20 billion in 1993 to a staggering $US3.2 trillion in 2012………………………………………..Full Article: Source

India-Oman fund identifies three projects for investment

Posted on 20 July 2012 by VRS  |  Email |Print

The India-Oman Joint Investment Fund, which was created earlier this year with an initial corpus of $100 million, has identified three projects in India for investment. “We have identified three projects which are based in India,” Sheikh Humaid Bin Ali Bin Sultan Al-mani, ambassador of the Sultanate of Oman in New Delhi, said.
“The fund, which was jointly formed by the State General Reserve Fund (SGRF) of Oman and India’s largest bank, State Bank of India (SBI), has a scope for expanding the size of the corpus to as high as $1.5 billion. Last month, a meeting was held in Mumbai to discuss the projects that could be (initiated) under the corpus fund………………………………………..Full Article: Source

KIC, Korea Teachers eye more China, EM equities

Posted on 20 July 2012 by VRS  |  Email |Print

Two of Korea’s big asset owners, Korea Investment Corporation and Korean Teachers Pension Fund, say they intend to boost their investments to emerging-market equities, with a particular focus on China.
Speaking recently at AsianInvestor’s Korea Institutional Investment Forum in Seoul, Kim Sang-joon, head of equity management at KIC, says the $43 billion sovereign wealth fund will double its EM equity exposure over the next few years. Ultimately as these markets grow their share of global GDP, he adds, they should have an allocation commensurate with that to developed markets………………………………………..Full Article: Source

Super fund quits tobacco companies

Posted on 20 July 2012 by VRS  |  Email |Print

Superannuation Fund First State Super has wiped from its investment portfolios all companies involved in the manufacture of tobacco products, in a move welcomed by cancer specialists.
Chief executive Michael Dwyer said the decision to exclude the cigarette and tobacco companies from its entire investment portfolio followed strong feedback from the health industry, which represents about 40 per cent of the fund’s 770,000 members………………………………………..Full Article: Source

Kremlin fund teams with Cartesian to invest in Moscow Exchange

Posted on 20 July 2012 by VRS  |  Email |Print

The Russia Direct Investment Fund, a Kremlin-backed private equity fund, is teaming up with Cartesian Capital Group LLC to boost its stake in the Micex-RTS Exchange ahead of the bourse’s share sale next year.
RDIF bought a 1.45 percent holding from ZAO UniCredit Bank, a unit of Italy’s UniCredit SpA (UCG), while the New York-based firm founded by former AIG Capital Partners Inc. President Peter Yu acquired 1.9 percent, according to RDIF Chief Executive Officer Kirill Dmitriev………………………………………..Full Article: Source

Sovereign wealth fund investments rose 42pct in 2011

Posted on 19 July 2012 by VRS  |  Email |Print

Sovereign wealth funds made 237 direct investments, valued at $80.9 billion, last year, the Financial Times reported, citing data collected by the Sovereign Investment Lab at Bocconi University in Milan.
A significant part of the investing was by funds in developing countries into developed markets, the FT said, citing the report. Much of the money was put into companies with strong involvement in emerging economies — LVMH Moet Hennessy Louis Vuitton SA (MC) in China and Iberdrola SA (IBE) in Latin America, for example — while little was invested in European manufacturing, suggesting a lack of confidence in the continent’s economy, the newspaper said………………………………………..Full Article: Source

Secrets of a sovereign wealth fund (Video)

Posted on 19 July 2012 by VRS  |  Email |Print

Scott KalbScott Kalb is now an adviser to the $45 billion sovereign wealth fund. “We were talking about earlier how you can’t expect to get 8% over several years pension fund. You had 12% returns from the time you were oveing the fund. You went from $19 billion up to $55 billion over that time.”
This is a huge amount of money, and it’s hard to get big returns with big amounts. You’ve managed to do it. Why don’t you let us in a little bit on some of the secrets here. Where do you sigh opportunities right now?……………………………………….Full Article: Source

Nigeria’s governors back sovereign wealth fund

Posted on 19 July 2012 by VRS  |  Email |Print

Nigeria’s powerful state governors said on Monday they had approved federal government’s proposal to launch a sovereign wealth fund with an initial $1 billion, ending months of political wrangling.
Finance Minister Ngozi Okonjo-Iweala said in October last year the fund was being launched but governors initially blocked the proposal, leading to eight months of negotiations………………………………………..Full Article: Source

Nigeria: Let the sovereign wealth fund begin

Posted on 19 July 2012 by VRS  |  Email |Print

And so in the light of the absence of a direct express prohibition as well as the laudable purpose of the SWF a court will be too hesitant to take a narrow view that can prove a disservice to the national interest.
The court would have to consider the likely inconsistencies, absurdity and inconvenience between a single account (the Federation Account) and the expediencies of subsidiary funds aimed at savings and investments (Excess Crude Account, SWF, etc.) in pursuit of welfare, good governance and national prosperity………………………………………..Full Article: Source

I2BF launches second nanotech fund

Posted on 19 July 2012 by VRS  |  Email |Print

I2BF is looking to raise $150 million into its second nanotechnology fund, which is aimed at making later-stage investments into nanotechnology firms targeting the resources, water and agricultural sectors in Russia.
The fund will complement I2BF’s existing early-stage nanotech fund, launched last December, and for which it is targeting $100 million. It is jointly managing that fund with VTB Capital, while Rusnano and Kazyna Capital Management, the sovereign wealth fund of the Republic of Kazakhstan, have committed $25 million each………………………………………..Full Article: Source

Mapletree to re-open Singapore hybrid market

Posted on 19 July 2012 by VRS  |  Email |Print

Mapletree Investments is set to re-open the Singapore-dollar market for corporate hybrids with the first perpetual bond outside the banking sector in three months. Property investor Mapletree, which is 100% owned by Singapore sovereign fund Temasek Holdings, will issue unrated perpetual capital securities with a call option at the end of year five. Citigroup, DBS and HSBC are joint leads on the deal.
Its move comes after a recovery in trading volumes in perpetual bonds in the last two weeks, coupled with the launch of a S$1bn (US$794m) Tier 1 hybrid from local lender OCBC Bank on July 5………………………………………..Full Article: Source

Slovenia to create SWF to clean banks’ balance sheets

Posted on 18 July 2012 by VRS  |  Email |Print

Janez Jansa Slovenian lawmakers are set to approve the creation of a sovereign wealth fund that will take bad loans from the country’s banks to shore up the financial industry during the credit crisis and spur economic growth.
The fund will streamline the management of state assets by merging bodies that have so far managed more than 10 billion euros ($12.3 billion). Lawmakers will vote on it this week, parliament’s spokeswoman Karmen Uglesic said………………………………………..Full Article: Source

Norway SWF bulks up on FTSE 100 companies

Posted on 18 July 2012 by VRS  |  Email |Print

Yngve SlyngstadNorway’s sovereign wealth fund has been buying up holdings in FTSE 100 companies, continuing its liquid-led investment strategy. Norway has become the largest sovereign shareholder in FTSE 100 companies after amassing $30.7 billion (£25 billion) of holdings.
The fund’s purchase makes it the largest state investor in the UK’s blue-chip index and the third largest overall, according to the newspaper’s investigation. The stakes include luxury brand Burberry, UK retailer Marks & Spencer, insurer Prudential, property investor British Land, and Rolls-Royce. The stakes are operated through Norges Bank Investment Management (NBIM), which manages the Norwegian oil-revenue fund………………………………………..Full Article: Source

Norwegian Government Fund manager live on CRIMS version 9rades IMS

Posted on 18 July 2012 by VRS  |  Email |Print

Folketrygdfondet, the fund manager in charge of the Norwegian Government Pension Fund and Bond Fund, has gone live on the latest version of Charles River’s Investment Management System (IMS).
The long-term asset manager will use the hosted Charles River platform to support the trading and processing of equity, fixed income, forex (FX) and derivative instruments, and automate the portfolio management, compliance, order and execution management processes………………………………………..Full Article: Source

Gulf Air takes toll on Bahrain’s Mumtalakat Fund

Posted on 18 July 2012 by VRS  |  Email |Print

Bahrain’s $9 billion sovereign wealth fund Mumtalakat said its full-year consolidated net losses widened due to higher provisions and reduced income from associate companies.
Mumtalakat, which owns sta+kes in firms such as Gulf Air and Aluminium Bahrain, made a net loss of 270.6 million dinars ($717.68 million) in 2011, it said in a statement on its website. That compares with a loss of 234.3 million dinars in 2010. Losses from struggling national carrier Gulf Air in particular weighed on the fund’s income………………………………………..Full Article: Source

Excess Crude Account: FG, states seek out-of-court settlement

Posted on 18 July 2012 by VRS  |  Email |Print

Federal Government lawyers and those of governors of the 36 states of the federation have been directed to finalise their positions on the Excess Crude Account and resolve within themselves in two weeks time before the next National Economic Council (NEC) meeting ahead of the September 2nd date given by the Supreme Court to settle out-of-court.
Also, the Federal Government has hinted that it wouldsoft pedal on domestic debts which, according to it, has reached a critical level………………………………………..Full Article: Source

Temasek’s US$1.7bln bond issue 4.5 times subscribed

Posted on 18 July 2012 by VRS  |  Email |Print

Temasek Holdings has sold US$1.7 billion worth of US dollar bonds in an offering that was heavily oversubscribed, allowing it to raise long-term funds at record-low interest rates. It received orders totalling US$7.6 billion - some 4.5 times the original size of the offer - from institutional investors worldwide.
The strong demand allowed Temasek to price the bonds - issued in two tranches - at lower yields than originally expected………………………………………..Full Article: Source

Temasek to sell S$2.14bln in bonds at lower yield

Posted on 18 July 2012 by VRS  |  Email |Print

Temasek Holdings will sell a total of US$1.7 billion (S$2.14 billion) in bonds at yields slightly below its initial guidance as orders swelled to US$7.6 billion, underscoring investor confidence in the Singapore investment giant.
Temasek will sell US$1.2 billion in 10.5-year bonds priced at a yield to maturity of 2.466 per cent, which is a spread of 100 basis points over 10-year benchmark United States Treasuries, it said………………………………………..Full Article: Source

Sovereign wealth funds could be private equity’s new best friend

Posted on 18 July 2012 by VRS  |  Email |Print

With private equity firms testing the limits of limited partners’ ability and willingness to fill their new-fund coffers, sovereign wealth funds (SWFs) are emerging as a potential source of capital to help bridge the fund-raising gap.
Managers of investible assets of some of the world’s richest nations, SWFs command enormous resources, which have quadrupled over the past decade to some $4.7 trillion in 2011. Increasingly, SWFs are looking to deploy assets in alternative investments, of which PE is a prime candidate………………………………………..Full Article: Source

Singapore’s Temasek to sell $1.7 bln in US-dollar bonds

Posted on 17 July 2012 by VRS  |  Email |Print

TemasekSingapore state investor Temasek Holdings will sell a total of $1.7 billion in 10.5-year and 30-year bonds at yields slightly below its initial guidance.
Temasek will sell $1.2 billion in 10.5-year bonds priced at a yield to maturity of 2.466 percent per annum, which is a spread of 100 basis points over 10-year benchmark U.S. Treasuries, the Singapore sovereign investor said in a statement……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Singapore wealth fund Temasek sets 30-yr coupon record

Posted on 17 July 2012 by VRS  |  Email |Print

Temasek Financial on Monday set a fresh record low coupon of 3.375% for a US dollar-denominated 30-year bond, coming inside the 3.60% achieved by agribusiness Monsanto Co just a week ago.
The company, which is guaranteed by Temasek Holdings, the Singapore government’s investment arm and one of the few Triple A-rated institutions left in the world, sold US$1.7 billion of debt in a two-part deal comprising 10.5-year and 30-year notes……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Temasek sells $1.7 bln in two-part bond deal

Posted on 17 July 2012 by VRS  |  Email |Print

Temasek Holdings Pte. Ltd. sold $1.7 billion worth of bonds Monday in a two-part deal, according to a person familiar with the offering. The Singapore state-owned bank priced $1.2 billion of 2.375% coupon, 10.5-year bonds at 2.466%, or 1.0 percentage point more than Treasurys, and $500 million of 3.375% coupon, 30-year bonds at 3.502%, a spread of 0.95 percentage point.
The offered yield on each fell from earlier pricing guidance, indicating strong demand……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Deduction from the federation account into sovereign wealth fund is not right

Posted on 17 July 2012 by VRS  |  Email |Print

Constitutionally it is not right. In one of my appearances Chairman, Revenue Mobilization Allocation and Fiscal Commission (RMAFC) Engineer Elias Mbam criticized the governors because they are briefed by the formal minister of finance Olusegun Aganga, that at the inception of it everybody agreed that the idea was good.
The process is a different thing. The then minister briefed us at the National Assembly that it went through the national economic council, federal executive council, national council of states and the governors were present and they all agreed……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Pact for major bus plant

Posted on 17 July 2012 by VRS  |  Email |Print

A Qatari newspaper has reported the signing of a Memorandum of Understanding by Oman Investment Fund ( OIF ), a sovereign wealth fund of the Sultanate of Oman, with the Qatari public transport company Mowasalat, for the establishment of a major bus manufacturing and assembly project in the Sultanate.
Gulf Times quoted an unnamed official of Mowasalat as saying that the proposed venture would be the largest of its kind in the Middle East, and would meet the demand for buses across the Gulf region……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Kuwait’s CMA reviewing the proposal

Posted on 17 July 2012 by VRS  |  Email |Print

Qatar Telecom (Qtel), the majority state-held telecoms operator, has offered to buy the remaining 47.5 percent stake it does not already own in Kuwaiti unit Wataniya, a Kuwaiti bourse statement said on Tuesday.
Qtel bought the Wataniya stake in 2007 for about $3.7 billion. Kuwait Investment Authority, the Gulf state’s sovereign wealth fund, has a 23.5 percent stake in Wataniya and the remaining shares are publicly held……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Peru to finalize $10 bln sovereign wealth fund by 2013

Posted on 16 July 2012 by VRS  |  Email |Print

The pre-requisites for Peru to establish a $10 billion sovereign wealth fund are in place but the mineral rich country wants to see stabilization in global commodity markets before it can finalize its plans, Luis Miguel Castilla, Peru’s Finance Minister said.
“We have a fiscal surplus, we have low debt levels, and we’re thinking of being able to do some asset management on those surpluses that we have,” Castilla said, adding that details will be announced sometime in 2013………………………………………..Full Article: Source

Mighty Norway SWF buys up FTSE 100

Posted on 16 July 2012 by VRS  |  Email |Print

Luis Miguel CastillaThe huge power of sovereign wealth funds is revealed by new analysis showing Norway has amassed £25bn of holdings in FTSE 100 companies, or 2pc of the UK’s benchmark share index.
The Norwegian state’s buying spree over the past year makes it the biggest state investor in the UK’s blue-chip index and the third largest investor overall. Its holdings now amount to half of the roughly 4pc of the index held by asset manager Legal & General, the biggest investor in the FTSE 100, and place Norway third after BlackRock, the world’s largest fund manager………………………………………..Full Article: Source

Kazakh-Arab Fund to invest $50 mln in Kazakh energy sector

Posted on 16 July 2012 by VRS  |  Email |Print

The Kazakh- Arab Falah Growth Fund will invest $50 million in energy sector of Kazakh city of Karaganda, the Kazakh Kazyna Capital Management (KCM) reported on Wednesday. KCM is a fully owned subsidiary of Kazakh Sovereign Wealth Fund Samruk-Kazyna.
“Falah Growth Fund L.P., a member of the group of private-equity funds with Kazyna Capital Management participatory interest, has reached an agreement with Kazakhstan Utility Systems to provide $50 million in equity capital to Karagandy Energocenter in Kazakhstan,” the company said………………………………………..Full Article: Source

ME SWFs look inward

Posted on 16 July 2012 by VRS  |  Email |Print

As GCC SWFs begin to invest closer to home, the West may find itself with an increasingly empty begging bowl. Major sovereign wealth funds (SWFs) in the Middle East are investing less internationally than they have in the last three years, according to the annual asset management study by US-based investment firm Invesco.
The main reason for the shift in focus from international to regional investment has been the current unrest in the region, the study revealed. “While GCC locals are generally wealthier and more content than locals in the MENA regions affected by the Arab spring, GCC governments are still keen to demonstrate that the region’s large commodity-linked wealth is reaching the local population,” it said………………………………………..Full Article: Source

Pact for major bus plant

Posted on 16 July 2012 by VRS  |  Email |Print

A Memorandum of Understanding by Oman Investment Fund (OIF), a sovereign wealth fund of the Sultanate of Oman, with the Qatari public transport company Mowasalat, for the establishment of a major bus manufacturing and assembly project in the Sultanate. Gulf Times quoted an unnamed official of Mowasalat as saying that the proposed venture would be the largest of its kind in the Middle East, and would meet the demand for buses across the Gulf region.
“With the signing of the MoU for such a major project, we also look at the opportunity to expand our operations through new investment opportunities and partnerships that would help us achieve our mid-term and long-term goals and objectives,” Mowasalat was quoted saying in a statement………………………………………..Full Article: Source

Nigeria: Let the sovereign wealth fund begin

Posted on 16 July 2012 by VRS  |  Email |Print

One of the curiosities in our current national discourse is this argument over the desirability or otherwise of having a saving and investment scheme as a nation giving the realities of our national circumstance. A nation with so much money, habitually engaging in wastefulness and is somehow ambivalent about saving for the future or against the rainy day, must be a study in self-destruct tendencies.
The sovereign wealth fund (SWF) initiative which Nigeria embarked upon early last year is designed to help the country achieve a turn-around in fiscal attitude and help address our needless tendency to profligacy by setting aside some critical fund for the future………………………………………..Full Article: Source

Singapore Temasek to issue 10.5-year, 30-year bonds

Posted on 16 July 2012 by VRS  |  Email |Print

Singapore state investor Temasek Holdings said today it will launch a dual tranche bond offering, comprising 10.5-year and 30-year bonds, as it returns to the debt market after an absence of two years.
Temasek did not state the issue size, but benchmark issues typically exceed $500 million. It said proceeds will be used by “Temasek and its investment holding companies to fund their ordinary course of business.”……………………………………….Full Article: Source

Temasek to hold on to stakes in Chinese banks

Posted on 13 July 2012 by VRS  |  Email |Print

Ding WeiTemasek Holdings Pte Ltd will maintain its stake in China’s banking sector in the long term despite a possible economic slowdown and the ongoing interest rates reform, the Singapore state investor said on Thursday.
“Seeing the current increase in consumption and ongoing urbanization, we are still confident in China’s economic potential,” Ding Wei, head of operations at Temasek China, said………………………………………..Full Article: Source

$7bln project Marina One breaks ground

Posted on 13 July 2012 by VRS  |  Email |Print

The Marina Bay area will see a new addition to its skyline come 2017 with the completion of the $7 billion Marina One - a Khazanah-Temasek mixed development project which had its ground-breaking ceremony.
Marina One is one of two projects undertaken by M+S Pte Ltd, the 60:40 joint venture between Khazanah Nasional and Temasek Holdings, as part of a land swap deal between Singapore and Malaysia. Together, the projects have a development value of $11 billion………………………………………..Full Article: Source

Temasek appoints MPG for global media duties

Posted on 13 July 2012 by VRS  |  Email |Print

Temasek Holdings, a Singapore-based investment company, has appointed MPG Media Contacts Singapore to handle its global media planning and buying duties. The account was transferred following a pitch that included OMD. MPG was unable to disclose the value of the business.
It is understood that MPG Media Contacts’ existing relationship with DBS Bank, which is part of Temasek Holdings, played a role in the appointment………………………………………..Full Article: Source

IHH Healthcare raises $2 bln

Posted on 13 July 2012 by VRS  |  Email |Print

Malaysia government-backed hospital operator IHH Healthcare Bhd. has raised about $2.0 billion in the world’s third largest initial public offering so far this year, becoming the latest Southeast Asian company to raise funds thanks to strong backing from sovereign wealth and pension funds.
The company, partly owned by the investment holding arm of Malaysia’s sovereign wealth fund Khazanah Nasional Bhd., attracted 22 cornerstone investors who have committed to buying 62% of the total shares on offer. Sovereign wealth fund Kuwait Investment Authority, Government of Singapore Investment Corp., a unit of Singapore state-investment company Temasek Holdings Pte. Ltd. and International Finance Corp., an investment arm of the World Bank., are among the cornerstone investors in the IPO………………………………………..Full Article: Source

Norway has been on a roll for decades

Posted on 13 July 2012 by VRS  |  Email |Print

Norway’s Government Pension Fund is only 20 years old, but is more than 30 times the size of Alberta’s Heritage Investment Fund, which former premier Peter Lougheed started for “a rainy day” in 1975. It is also bigger than Saudi Arabia’s and a close second in size to the one run by one of the sheikdoms of the United Arab Emirates.
Norway posts such monster economic statistics that it is impossible to avoid superlatives. So rosy are its books and so high its standard of living that it has been rated No. 1 on the UN’s Human Development Index for nine of the first 11 years of this century………………………………………..Full Article: Source

Malita ‘ensures’ future projects are possible

Posted on 13 July 2012 by VRS  |  Email |Print

The establishment of Malita Investments plc, the investment holding company mandated to acquire, develop and manage strategic real estate, will ensure a structure that allows future national projects to be realised, chairman Kenneth Farrugia has insisted.
“What is wrong with having a sovereign wealth fund ‘lookalike’ which is in a position to independently fund national projects as against the legacy system of funding them from the government’s coffers?” he asked. “Malita’s business is at arm’s length, there is more focus, more ownership from the public. Malita will be on the Malta Stock Exchange’s official list which requires full transparency.”……………………………………….Full Article: Source

Qatar shifts from soft to hard power

Posted on 13 July 2012 by VRS  |  Email |Print

In London Qatar Holdings and the Qatar Investment Authority, have been on a long shopping spree, spending more than US$20 billion in recent years on purchasing Chelsea Barracks, Harrods and the Olympic Village.
Qatar is the largest shareholder in Barclays Bank. Its global investment strategy most recently has seen the statelet aggressively pursue new openings in China………………………………………..Full Article: Source

Here’s how Qatar is investing $85 bln…

Posted on 13 July 2012 by VRS  |  Email |Print

The country’s sovereign wealth fund — the Qatar Investment Authority (QIA) — is the 12th largest in the world with $85 billion in assets. Through holding and property subsidiaries, Qatar has gobbled up billions of dollars in real estate, retail, sporting, financial, and cultural investments.
This year, according to Bloomberg, the QIA intends to spend $30 billion………………………………………..Full Article: Source

How to boost capital market through telecoms licences’ renewal, SWF, by CIS

Posted on 13 July 2012 by VRS  |  Email |Print

The Chartered Institute of Stockbrokers (CIS) advised the Federal Government to use listing on the floor of the Nigerian Stock Exchange (NSE) as condition for the renewal of telecommunications licences. Also, the institute said that the Sovereign Wealth Fund (SWF) should be channeled into the market as part of measures to tackle the challenges of liquidity.
CIS argued that it was an “error” on the part of the Federal Government to have issued the telecommunications licences without insisting that the firms put measures in place to list their shares in the capital market………………………………………..Full Article: Source

July 2012
M T W T F S S
« Jun   Aug »
 1
2345678
9101112131415
16171819202122
23242526272829
3031