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Sovereign Wealth Funds Briefing 30.Mar 2010

Posted on 30 March 2010 by VRS |  Email |Print

From Businessweek.com: Temasek Holdings Pte agreed to buy $100 million of convertible debt in Platmin Ltd., the South Africa-based platinum miner controlled by Brian Gilbertson’s Pallinghurst Resources Ltd.

The Singapore state-owned investment company, through its Ridgewood Investments (Mauritius) Pte unit, agreed to buy the convertible debenture from Platmin, the mining firm said in a statement distributed through Marketwire. Platmin also plans a $250 million global equity offering, it said………………………………..Full Article: Source

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Posted on 30 March 2010 by VRS |  Email |Print

From Reuters: Canada’s Platmin Ltd agreed to sell a $100 million convertible debenture to a unit of Temasek Holdings, giving the Singapore sovereign wealth fund the right to nominate a board member.

Platmin also said it was looking to raise additional $250 million through an equity offering………………………………..Full Article: Source

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Posted on 30 March 2010 by VRS |  Email |Print

From Haaretz.com: The biggest Swedish pension fund has barred Israeli defense electronics company Elbit Systems from its investment portfolios on ethical grounds, Israel Radio reported Monday.

Following the lead of Norway’s state oil fund, the Första AP-Fonden pension fund said it had banned investment in Elbit because the Israeli company had built and is operating a surveillance system for the much debated West Bank separation barrier………………………………..Full Article: Source

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Posted on 30 March 2010 by VRS |  Email |Print

From Dow Jones: China Construction Bank Corp plans to raise funds as part of efforts to keep its capital adequacy ratio above 11.5% in the coming five years. Central Huijin Investment Ltd., the domestic investment arm of China’s sovereign wealth fund, may inject more capital into the lender so that its holding isn’t diluted.

Analysts said 2010 could be the biggest year for fund raising in China since the country’s largest banks launched initial public offerings four years ago, as a massive lending binge–the key platform of China’s stimulus spending last year–reduced their capital buffers………………………………..Full Article: Source

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Posted on 30 March 2010 by VRS |  Email |Print

From Reuters: China’s National Social Security Fund (NSSF) has invested heavily in the shares of some big domestic banks, earning returns of more than 25 percent in the last three to four years, Dai Xianglong, the head of the pension fund, said.
Dai told reporters that the fund’s investments included Bank of China, China Construction Bank Corp and Industrial and Commercial Bank of China………………………………..Full Article: Source

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Posted on 30 March 2010 by VRS |  Email |Print

From China Knowledge: CITIC Resources Holdings Ltd’s net profit for 2009 plunged 43% to HK$115.69 million from HK$204.26 million in 2008. Singapore’s state-owned Temasek Holdings Pte Ltd holds an 11.47% stake in CITIC Resources.

The Hong Kong-listed company attributed the decline to higher operating costs………………………………..Full Article: Source

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