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Sovereign Wealth Funds Briefing 29.Jun 2011

Posted on 29 June 2011 by VRS |  Email |Print

Goodluck JonathanNigeria’s foreign-currency reserves may rise 24 percent to the highest in a year in the second half of 2011 as it creates a sovereign wealth fund, tightens spending and lifts curbs on inflows, FBN Capital Ltd. said.
The foreign-currency reserves of Africa’s top oil producer may rise to $40 billion, FBN Capital, the investment-banking unit of First Bank of Nigeria Plc (FIRSTBAN), said………………………………………Full Article: Source

Posted on 29 June 2011 by VRS |  Email |Print

Klaus KleinfeldA $10 billion Russian sovereign fund launched this week at the St. Petersburg International Economic Forum (SPIEF), will help drive investment between MENA and Russia.
The Russian Direct Investment Fund (RDIF), a $10 billion Russian sovereign fund launched this week at the St. Petersburg International Economic Forum (SPIEF), has the key features necessary to drive investment, especially between the Middle East & North Africa region, and Russia……………………………………….Full Article: Source

Posted on 29 June 2011 by VRS |  Email |Print

London-listed Vallar , the controlling shareholder of Asia’s biggest thermal coal exporter Bumi Resources, said sovereign wealth fund China Investment Corp wanted its $1.9 billion loan to Bumi to be repaid in cash.
“CIC wants cash, not swap its loan with CB (convertible bonds),” Vallar’s CEO Ari Hudaya told Reuters……………………………………….Full Article: Source

Posted on 29 June 2011 by VRS |  Email |Print

China Investment Corporation, the country’s US$300 billion sovereign wealth fund, is considering buying a 5 percent stake in OAO Sberbank, Russia’s biggest lender, media reports say. According to Interfax, the first round of negotiations has already taken place.
Sberbank, a crown asset in Russia’s three-year US$35.5 billion privatization drive, is selling off a stake of up to 7.6 percent by mid-September and is expected to roll out its privatization program soon, China’s 21st Century Business Herald reports……………………………………….Full Article: Source

Posted on 29 June 2011 by VRS |  Email |Print

China Investment Corp, the country’s US$300-billion sovereign wealth fund, may obtain a cash injection of US$50 billion this year, since the Chinese government expects to diversify its foreign exchange reserves, sources reported, citing unnamed executives of CIC.
CIC has submitted an application to the State Council for the new round of capital injection which will be approved as soon as the fund completes a reshuffle of its investment department……………………………………….Full Article: Source

Posted on 29 June 2011 by VRS |  Email |Print

The Government of Singapore Investment Corp (GIC) yesterday announced the appointments of acting chairmen for its GIC Real Estate and GIC Special Investments units.
The move comes after Dr Tony Tan said last week that he was quitting all of his positions at GIC, including those of group deputy chairman and executive director, as well as his chairmanship at Singapore Press Holdings, as he seeks to contest in the Presidential Election, which is due before Sept 1……………………………………….Full Article: Source

Posted on 29 June 2011 by VRS |  Email |Print

Sun Art Retail Group Ltd., the Chinese hypermarket operator backed by France’s Groupe Auchan SA, plans to raise as much as HK$8.2 billion ($1.1 billion) in a Hong Kong initial public offering.
The Shanghai-based company, which counts Wal-Mart Stores Inc. among its competitors, plans to sell 1.14 billion new shares for HK$5.65 to HK$7.20 each, according to a sales document obtained yesterday by Bloomberg News. About half the stock will go to nine so-called cornerstone investors, including Government of Singapore Investment Corp. and Tiger Global Management LLC, which agreed to invest $40 million each……………………………………….Full Article: Source

Posted on 29 June 2011 by VRS |  Email |Print

Mapletree Investments, a property arm of Singapore investment company Temasek Holdings, is in discussions to buy the Festival Walk retail complex (picture) in Hong Kong’s Kowloon Tong district, the Sing Tao Daily reported yesterday, citing an unnamed person familiar with the matter.
Sing Tao said Hong Kong conglomerate Swire Pacific may divest Festival Walk for HK$22 billion (S$3.5 billion). If successful, the sale would be the biggest property transaction in the city’s history, the newspaper said, without citing anyone……………………………………….Full Article: Source

Posted on 29 June 2011 by VRS |  Email |Print

The coming together of Khazanah Nasional Bhd and Temasek Holdings to develop RM30bil worth of real estate projects in Singapore and Iskandar Malaysia will help UEM Land Holdings Bhd make a great leap forward, both financially and in terms of branding, say analysts.
The tie-up also puts into focus why UEM Land launched an RM1.4bil takeover of property developer Sunrise Bhd, which was completed early this year……………………………………….Full Article: Source

Posted on 29 June 2011 by VRS |  Email |Print

Singapore and Malaysia’s state-owned investment companies have agreed to develop jointly projects in the two countries. Temasek Holdings and Khazanah Nasional will develop $9.8bn (£6bn) worth of projects in Southern Malaysia and central Singapore.
The announcement comes as the two countries signed a deal resolving a long running land dispute……………………………………….Full Article: Source

Posted on 29 June 2011 by VRS |  Email |Print

Paul Costello, who now heads the federal government’s consultative committee on its superannuation reforms, dropped something of a bombshell at a super industry lunch last week.
He bluntly told a room of several hundred people including the heads of big funds that their investment performance had failed investors. You could have heard a pin drop. Few offered a question after the speech; I think many people were too shocked……………………………………….Full Article: Source

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