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Sovereign Wealth Funds Briefing - Categorized | Market

GIC’s shares in BP take a knock

Posted on 11 June 2010

From Asiaone.com: Oil giant BP’s ongoing share price slide is knocking Singapore’s publicly-traded investments. The Government of Singapore Investment Corporation’s (GIC) shareholding in the company could have lost US$540 million (S$760 million) in value since May 1 as a result of the fallout from the Gulf of Mexico oil spillage.
This figure is based on Bloomberg data which shows that, as of May 1, GIC had 200.4 million shares in the British company worth around US$1.68 billion…………………………………………Full Article: Source

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