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Sovereign Wealth Funds Briefing 02.Jul 2009

Posted on 02 July 2009 by VRS |  Email |Print

From Nst.com.my: Khazanah Nasional Bhd, the government’s investment arm, will continue and accelerate the trend of divesting through trade sales and reducing its stakes in large listed goverment linked companies (GLCs) subject to value, over the next two to three years.
“In the last five years alone, Khazanah has made divestments totaling RM12.6 billion locking in gains of RM3.6 billion over 20 transaction,” he said………Full Article: Source

Posted on 02 July 2009 by VRS |  Email |Print

From Bernama: The government’s investment arm, Khazanah Nasional Bhd’s overall portfolio in the first half of this year saw total realisable assets rising to RM85 billion from RM69.5 billion on December 31 last year.

“It has been a good first half,” said its managing director Tan Sri Azman Mokhtar during his special address at the “Invest Malaysia 2009″ conference here today………Full Article: Source

Posted on 02 July 2009 by VRS |  Email |Print

From Thestar.com.my: Khazanah Nasional Bhd is in the offensive mood for potential mergers and acquisitions (M&As) now that the global economy is on a better footing, says managing director Tan Sri Azman Mokhtar.

For the first-half year, Azman said Khazanah had to be defensive, which reflected its crisis-management stance then, to ensure that government-linked companies (GLCs) could weather the economic crisis………Full Article: Source

Posted on 02 July 2009 by VRS |  Email |Print

From Calgaryherald.com: After chalking up a record $3-billion loss that dragged Alberta into deficit for the first time in 15 years, the province’s Heritage Savings Trust Fund has gained back some ground in the past three months.

Treasury board president Lloyd Snelgrove said Tuesday the fund’s value is about $14.7 billion, a $700-million increase since March 30, the end of the province’s fiscal year………Full Article: Source

Posted on 02 July 2009 by VRS |  Email |Print

From Banking-business-review.com: Emirates NBD has issued AED4 billion Tier 1 Debt Securities. These securities would enable the Bank’s Tier 1 capital adequacy ratio to exceed 11%, and the overall capital ratio to exceed 17%. The sole investor for this issue is the Investment Corporation of Dubai.

The securities have a fixed rate coupon of 6.45% for the first five years, before becoming floating rate. The UAE Central Bank has confirmed Tier 1 Capital status for Capital Adequacy purposes………Full Article: Source

Posted on 02 July 2009 by VRS |  Email |Print

From Wbj.pl: Qatar Investment Authority (QIA), the largest Qatar-based investment fund, is the new investor in the Gdynia and Szczecin Shipyards.
On Tuesday, it signed a contract to purchase both plants after having won the tenders worth zł.288 million for the Gdynia Shipyard, and zł.160 million for the Szczecin Shipyard………Full Article: Source

Posted on 02 July 2009 by VRS |  Email |Print

From Reuters: Britain’s biggest property company, Land Securities, has sold its Portman House retail and office building on London’s Oxford Street to Kinloss Property Limited, a wholly owned subsidiary of the Libyan Foreign Investment Company (LAFICO) for 155 million pounds ($254.8 million).

London is fast becoming a favourite destination for sovereign wealth fund capital after a near-45 percent fall in average property prices since June 2007………Full Article: Source

Posted on 02 July 2009 by VRS |  Email |Print

From Fxstreet.com: Russia’s two oil-wealth funds fell to 5.771 trillion rubles ($185.04 billion) in June from RUB5.911 trillion a month earlier, the Finance Ministry said Wednesday.

Assets in Russia’s Reserve Fund were RUB2.958 trillion as of July 1, while the National Welfare Fund was RUB2.814 trillion. ……..Full Article: Source

Posted on 02 July 2009 by VRS |  Email |Print

From Reuters: Kuwaiti mobile operator Zain, whose biggest shareholder is Kuwait’s sovereign wealth fund,said it was working with Swiss bank UBS and other consultants to review its strategy, to boost shareholder value during the financial downturn.

“(Zain) cooperates with UBS and other consultants to study and review Zain’s overall strategies, which reflects positively on shareholders’ equity,” it said in a statement on the bourse website………Full Article: Source

Posted on 02 July 2009 by VRS |  Email |Print

From Allafrica.com: The National Assembly and the African Institute for Applied Economics (AIAE) have called for the setting up of a national stabilization fund to further protect the country from global oil price instability.

The call, which is contained in a communiqu» issued by the bodies at the end of a national symposium on policy analysis, research and project in Abuja also observed that the global economic crisis and its negative consequences on the Nigerian economy has made it an urgent need for the country to diversify away from oil………Full Article: Source

Posted on 02 July 2009 by VRS |  Email |Print

From Bloomberg: South Korea’s foreign-exchange reserves rose for a fourth month in June, helped by investment gains and a weaker U.S. currency that increased the value of holdings in British pounds.

Reserves climbed to $231.7 billion at the end of June, the most since September and up from $226.8 billion in May, the Bank of Korea said in Seoul today………Full Article: Source

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