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Sovereign Wealth Funds Briefing - Categorized | Trends

East Timor hungry for investors

Posted on 23 September 2013

A Southeast Asian country quite off the radar of the international community is East Timor. On Aug 14, 2013 it announced that its sovereign wealth fund – the Timor-Leste Petroleum Fund – had reached a value of US$13.6 billion (RM40.8 bil) surpassing the oil fund’s value of both Bahrain and Oman.
This is an amazing amount for an almost forgotten country of just 1.2 million people where around 40% still live below the poverty line of US$1.25 (RM3.75) a day. The fund alone could, straight away, grant every citizen more than US$11,300 (RM33,900) as a one-time payment from the oil wealth…………………………………..Full Article: Source


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