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Sovereign Wealth Funds Briefing 30.Jul 2009

Posted on 30 July 2009 by VRS |  Email |Print

From AP: Singapore government wealth fund Temasek said its investment portfolio lost 40 billion Singapore dollars ($28 billion) during the 12 months ended March as big bets on financial companies went sour.

In a speech Wednesday, Temasek Chief Executive Ho Ching said the fund’s own analysis last year of various investment scenarios had shown there was a 16 percent probability its portfolio could drop that much. “Indeed, it had turned out to be so, and more.”……..Full Article: Source

Posted on 30 July 2009 by VRS |  Email |Print

From Theaustralian.news.com.au: The value of Singapore state-owned investment company Temasek Holdings portfolio fell more than $S40 billion ($34 billion) at the end of March from a year earlier, chief executive Ho Ching said.
“We are certainly not happy with the negative wealth added in March last year as well as March this year,” Ms Ho said………Full Article: Source

Posted on 30 July 2009 by VRS |  Email |Print

From Reuters: Singapore state investor Temasek said its portfolio slid by at least $27 billion, or more than a fifth, in the year to March but it will stick with banks and sees opportunities in food and energy.

The fund saw potential in Asia and Latin America and was comfortable with financial services as ts core portfolio holding, despite being hurt by losses on high-profile investments in Western banks after the market meltdown last year, CEO Ho Ching said on Wednesday………Full Article: Source

Posted on 30 July 2009 by VRS |  Email |Print

From Asiaone.com: Temasek Holdings may invite the public to co-invest with the company in eight to 10 years’ time, allowing it to expand its stakeholder base, chief executive Ho Ching said yesterday.

Under the plan, the company will look for people - including retail investors - who are prepared to invest long term, said Ms Ho………Full Article: Source

Posted on 30 July 2009 by VRS |  Email |Print

From Bloomberg: Temasek Holdings Pte’s decision to consider managing money for outside investors may help it overcome foreign governments’ concerns about sovereign wealth fund investment and drive expansion over the next decade.

The Singapore fund may seek “sophisticated co-investors” in five to eight years and retail investors in the next eight to 10 years, Chief Executive Officer Ho Ching said during a speech in Singapore yesterday………Full Article: Source

Posted on 30 July 2009 by VRS |  Email |Print

From AFP: The chief executive of Singapore’s state investment firm said Wednesday that scrapping a plan to install its first foreign head was “unfortunate” but a succession review was going ahead.

Temasek CEO Ho Ching’s comments come after the firm last week said it was rescinding the appointment of US businessman Charles “Chip” Goodyear as her replacement due to differences over strategy………Full Article: Source

Posted on 30 July 2009 by VRS |  Email |Print

From FT Alphaville: For a secretive kind of outfit, Temasek is certainly generating a lot of publicity these days. Following the storm of media interest last week over news of the sudden departure of its chief executive-designate Chip Goodyear, the Singaporean state investment agency is again in the news.

This time, the Temasek newsmaker is none other than Ho Ching, the SWF’s low-profile chief executive, wife of Singapore’s prime minister and a renowned shunner of media interviews………Full Article: Source

Posted on 30 July 2009 by VRS |  Email |Print

From Thenational.ae: If it has felt slightly windier than normal this week, it is very likely due to the enormous vacuum that was switched on in Washington, where Uncle Sam was attempting to suck up US$115 billion (Dh422.39bn) in new borrowing.

Now, $115bn is a lot of money, even in Washington. It works out to almost 47 billion gallons of petrol, enough to drive one of GM’s gas-guzzling Hummers from Capitol Hill to Beijing and back 57 million times (if Hummers could float)………Full Article: Source

Posted on 30 July 2009 by VRS |  Email |Print

From Onet.pl: Kuwait China Investment Co (KCIC), a firm linked to the Gulf Arab state’s sovereign wealth fund, is eyeing investments in Asia’s agriculture sector, the company’s managing director said on Wednesday.
Gulf investors have spent billions of petrodollars on buying foreign farmland to help secure food supplies………Full Article: Source

Posted on 30 July 2009 by VRS |  Email |Print

From Tradearabia.com: Kuwait Finance House – Bahrain (KFH-Bahrain) had played a major role in arranging a five year $140 million syndicated Ijara facility for Bahrain Mumtalakat Holding Company, the investment arm of the Government of Bahrain.

The bank was the sole lead arranger and underwriter for the transaction acting alongside the Liquidity Management Centre (LMC) who acted as Mandated Lead Arranger………Full Article: Source

Posted on 30 July 2009 by VRS |  Email |Print

From Reuters: Oxford SWF Project, a university think tank on sovereign wealth funds, is looking at reports that the latest entry in the field could be Scotland.
The project has a new post about the Scottish government floating the idea of an oil stabilisation fund to use oil and gas revenues. It cites Scottish cabinet secretary for finance John Swinney looking abroad gleefully:……..Full Article: Source

Posted on 30 July 2009 by VRS |  Email |Print

From Oxfordswfproject.com: The first round of the US-China Strategic and Economic Dialogue was held in Washington from 27 to 28 July, 2009. It was a star-studded event that saw a candid and in-depth exchange of views on the “strategic, long-term and overarching issues concerning the development of bilateral relations.”
The issue of China’s SWFs came up. In 2007/2008, Washington policymakers were particularly concerned with the behaviour of the CIC, so this wasn’t all that surprising………Full Article: Source

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