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Sovereign Wealth Funds Briefing 08.Jul 2011

Posted on 08 July 2011 by VRS |  Email |Print

Nagi HamiyehSingapore’s state investment fund says the value of its portfolio rose 3.8% to a record 193bn Singapore dollars ($157bn; £98bn) in the year to March. Temasek Holdings, whose assets include stakes in UK bank Standard Chartered and two of China’s biggest banks, made net profits of S$13bn, up from S$5bn.
Temasek said in a statement that it was “ready” to invest in more mature economies, such as the US……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

S DhanabalanSingapore’s state-linked investment firm Temasek Holdings said Thursday its net profit more than doubled in the year to March while the value of its global investments hit a record high. Net profit for the year ended March 31 totalled Sg$13 billion ($10.6 billion), compared with Sg$5.0 billion the previous year.
The company — which holds stakes in Singapore Airlines and other firms in telecoms, finance and real estate among others — also reported a record year-end portfolio value of Sg$193 billion, up from Sg$186 billion……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

Temasek Holdings Pte, Singapore’s state-owned investment company, said the value of its assets climbed 3.8 percent to a record last fiscal year and profit more than doubled on increased contributions from its holdings.
Temasek’s assets climbed to S$193 billion ($157 billion) in the year to March 31, surpassing last year’s record of S$186 billion, the firm said in its annual report today. Net income jumped to S$12.7 billion from S$4.6 billion a year earlier……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

Singapore state investor Temasek Holdings said on Thursday it remains bullish on China, even though it sold $3.6 billion worth of shares in two Chinese banks just a day earlier.
“We have faith in the policies of the Chinese government in the long term and we are bullish on China in the long term,” Nagi Hamiyeh, managing director for investments, told reporters at a briefing on Temasek’s performance for the financial year ended March 2011……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

Temasek Holdings Pte, Singapore’s state-owned investment company, is “bullish” on China and seeking deals even after selling some of its stakes in two of the nation’s banks this week for $3.6 billion.
“China is our largest investment destination,” Nagi Hamiyeh, Temasek’s managing director of investment, said in Singapore. “We are still looking for opportunities in China and we are very comfortable with our position there at this time.”………………………………………Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

Temasek Holdings Pvt. Ltd, the investment arm of the Singapore government, is eying investments in three or four Indian companies this fiscal, said Manish Kejriwal, senior managing director, Temasek Holdings Advisors India Pvt. Ltd.
“If public markets improve, then we have the option of looking at investments through the public market,” Kejriwal told a press briefing on Thursday, outlining his firm’s plan for the country……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

Temasek Holdings (Pvt) Ltd, the investment company owned by the government of Singapore, will continue its big-ticket investments in India as a long-term investor. It remains cautious on regulatory issues and on high inflation in the country.
Its annual performance review, issued today, says inflation in India is structurally higher due to supply-side bottlenecks and changing consumption patterns. “The growth-inflation tradeoff is a crucial question for the government, but even the more bearish analysts expect growth to be 7.5 per cent in March 2012,” it said……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

Singapore’s state-owned investment company, Temasek Holdings’ latest annual report states that their value of assets have climbed to 193 billion Singaporean dollars (USD 157 billion) in the year to March 31, surpassing last year’s record of 186 billion Singaporean dollars.
Speaking to CNBC-TV18 on their interests in India, the management of Temasek says that, so far, they have invested upward of USD 5 billion in the emerging economy. Temasek’s investment are not strategic, but needs to seen as economic investments, says the company that does not consider itself as a sovereign fund……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

The PAP-controlled media has gone on a propaganda overdrive to publicize Singapore sovereign wealth fund Temasek Holdings’ ‘record’ profits in the past financial year.
According to Channel News Asia, the group net profit was S$13 billion, more than double the S$5 billion a year ago, an increase of 3.8 per cent from S$186 billion in the previous year which translates to a miserly return of only 4.6 percent………………………………………Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

Sovereign wealth fund investors are closing in on the cities of Central Asia. Places like Mongolia, Kazakhstan and Uzbekistan are sitting on some of the world’s most coveted natural resources.
Uzbekistan’s Muruntau, for example, is the world’s biggest open-pit gold mine, and Mongolia’s Oyu Tolgoi and Tavan Tolgoi are the world’s largest undeveloped copper and gold, and coking coal fields respectively……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

Sovereign wealth fund China Investment Corp, together with China Life Insurance (Group) Co. and Franklin Templeton Investment Corp., invested a combined USD28 million in Prince Frog International Holdings Ltd.’s USD100 million initial public offering, a person familiar with the deal said July 7.
Prince Frog, which sells childcare products under the Frog Prince brand, sold a total of 300 million shares at HKD2.60 each, which is closer to the bottom-end of the indicative price range of HKD2.51 to HKD3.76……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

There’s little need for such concern. For one, even a billion dollar stake isn’t a very big stake in Facebook, these days. The company is expected to IPO at a $100 billion valuation. For another, China would be buying non-voting stock and would have no say in Facebok’s operations. And finally, it’s not like shareholders in Facebook have some special privilege that allows them to see what users are doing or saying.
Importantly, sovereign wealth funds are pretty distinct from their governments……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

Gulf Arab bankers, hit by a dearth of deal flows so far in 2011, are hoping sovereign wealth funds will drive a second-half rebound powered by a buoyant oil price and an easing in political tensions.
The state-owned funds, allocators of the state’s excess investment capital, have benefited from a 20 per cent surge in crude over the past year. “Most of the sovereign wealth funds in the region are very liquid and there have been few large deals in the first half,” said Waleed El-Amir, Middle East North Africa investment banking head at Bank of America-Merrill Lynch. “We should see volumes pick up considerably in the second half.”………………………………………Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

Qatar National Bank , the Gulf Arab state’s largest lender, posted a 29-percent jump in quarterly profit on Wednesday buoyed by increased lending and customer deposits. QNB is 50-percent owned by sovereign wealth fund Qatar Investment Authority.
The bank had second-quarter net profit of 1.8 billion riyals ($494.3 million), according to Reuters calculations, compared to 1.4 billion riyals in the same period last year……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

Thailand’s designated Prime Minister Yingluck Shinawatra said Thursday that her Pheu Thai Party has no policy to shut down the state oil fund, but will temporarily suspend certain levies contributed to the fund until an appropriate time, Thai News Agency (TNA) reported.
Yingluck made it clear that her new Pheu Thai Party-led coalition administration, once taking office in the coming months, will, instead, suspend the state oil fund’s levies imposed on premium and regular gasoline, or benzene 95 and 91, and diesel for a certain period of time, aimed to reduce retail prices of the three types of fuel and to ease people’s transport costs……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

Kazakhstan’s sovereign wealth fund Samruk-Kazyna will inject cash into BTA Bank if the lender requires financing to avoid a second default, an official said.
“I don’t think BTA Bank will have to restructure debt or face bankruptcy, but we will provide financing to BTA if needed,” Aidan Karibzhanov, a deputy chief executive officer at Samruk-Kazyna, said in an interview in Astana. The fund hasn’t considered how it would inject money into the lender, he said……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

State Oil Fund of the Republic of Azerbaijan announced a purchase of a bond with par value of USD 485 million issued by the Azerbaijan ( ACG) Limited - a wholly-owned offshore subsidiary of the State Oil Company of the Azerbaijan Republic holding a 10 percent participating interest in the Azeri-Chirag-Gunashli Production Sharing Agreement.
The custodial services of the bond registered by the State Committee for Securities of the Republic of Azerbaijan on July 4, 2011 will be provided by the Central Bank of the Republic of Azerbaijan……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

Business at the Crown Estate, which is to fund the Queen’s expenses with 15 per cent of its profits, is booming, thanks to its historic and eccentric portfolio. Last year, in a landmark deal, the Crown Estate sold 25 per cent of Regent Street to the Norwegian sovereign wealth fund for £450 million.
The Crown Estate has won praise across the property industry for its overhaul of Regent Street……………………………………….Full Article: Source

Posted on 08 July 2011 by VRS |  Email |Print

Israel’s reserves of foreign currency totaled $77.4 billion at the end of June 2011, the Bank of Israel announced Thursday. During June, the BOI purchased $425 million in foreign currency; the rest of the reserves increase was due to government transfers from abroad; a currency revaluation; and private sector transactions.
In May 2011, the BOI purchased $200 million in foreign currency – after buying $1.4 billion in April 2011……………………………………….Full Article: Source

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