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Sovereign Wealth Funds Briefing 29.Jul 2011

Posted on 29 July 2011 by VRS |  Email |Print

Temasek Holdings Pte, Singapore’s state-owned investment company, named Jimmy Phoon as chief executive officer of its Seatown Holdings Pte unit.
Phoon, who’s head of strategy at Temasek, will take the appointment starting Aug. 1, Temasek said in an e-mailed statement yesterday. Phoon replaces co-CEOs Nasser Ahmad, a founder of DiMaio Ahmad Capital LLC, and Charles Ong, also Temasek’s senior managing director of special projects, who will continue in that role, Temasek said……………………………………….Full Article: Source

Posted on 29 July 2011 by VRS |  Email |Print

Singapore Airlines (SIA), about 55 percent-owned by Singapore state investor Temasek Holdings , reported an 82 percent fall in first-quarter net profit, worse than analyst forecasts, as soaring jet fuel prices hit its margins.
The carrier, the world’s second-largest airline by market value, posted a net profit of S$44.7 million ($37 million) in the quarter ended June 30, compared to S$252.5 million a year ago. Four analysts polled by Reuters had on average forecast the figure at S$165.6 million……………………………………….Full Article: Source

Posted on 29 July 2011 by VRS |  Email |Print

There’s talk of a sovereign wealth fund (SWF) to help finance energy deals. Folks are worried India is falling behind China as it builds its foreign energy supplies, particularly in places like Africa. Not everyone in the Indian government wants an SWF.
That’s why the idea is still in the proposal stages. It’s a real possibility, though. We can take advantage of the idea India needs energy supplies……………………………………….Full Article: Source

Posted on 29 July 2011 by VRS |  Email |Print

Global sovereign wealth funds (SWF) are set to hasten investing the billions of dollars of cash holdings they have built up in a rebound from the 2008 financial crisis that has lifted their combined assets to a record.
But unlike three years ago, when they rode to the rescue of Wall Street titans such as Merrill Lynch and Citigroup, the investments this time around are seen mostly of a smaller nature and into the faster-growing sectors such as resources and infrastructure……………………………………….Full Article: Source

Posted on 29 July 2011 by VRS |  Email |Print

Royal Dutch Shell is expected to pick Canary Wharf Group along with Qatari Diar, the property investment arm of Qatar’s sovereign wealth fund, to build office towers, retail space and apartments on the oil giant’s 2.1-hectare headquarters site near Waterloo station in the British capital.
Canary Wharf Group is owned by Songbird Estates, a development company 27 per cent owned by the Qatar Investment Authority……………………………………….Full Article: Source

Posted on 29 July 2011 by VRS |  Email |Print

Royal Dutch Shell Plc (RDSA) sold most of its London headquarters campus to Canary Wharf Group Plc and a unit of Qatar’s sovereign wealth fund for 300 million pounds ($490 million).
Canary Wharf, which developed the former docks in east London of the same name, and Qatari Diar Real Estate Investment Co. bought Shell Centre to redevelop the 5.25-acre (2.12 hectares) site near Waterloo railroad station into offices, shops and apartments, according to a statement. Shell’s 27-story office tower at the center of the complex wasn’t included……………………………………….Full Article: Source

Posted on 29 July 2011 by VRS |  Email |Print

Italy is creating an ad hoc sovereign fund to invest in strategic companies to help protect and develop key industry sectors.
The fund is partly backed by Rome’s Cassa Depositi e Presititi (CDP), a state holding that manages 235 billion euros ($331.9 billion) in savings, and would be open to private investors……………………………………….Full Article: Source

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