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Sovereign Wealth Funds Briefing 19.Aug 2011

Posted on 19 August 2011 by VRS |  Email |Print

The discussions around nationalisation create uncertainty and all investors dislike uncertainty. The discussion of a change in regime detracts from investment, so any discussion of this sort will not be good for investments, says Coal of Africa chairperson and mining entrepreneur Richard Linnell.

He tells that he is not adverse to the ‘correct form of nationalisation’. “However, I am frightened by irrational and uninformed discussion on something that is actually quite difficult and, because there is political merit in the debate, it attracts attention and people tend to get frightened by it. You cannot discount the political merit – it just has to be managed correctly,” Linnell says……………………………………….Full Article: Source

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Posted on 19 August 2011 by VRS |  Email |Print

Cedar Holdings, which is 63%-owned by Temasek Holdings, has reduced its stake in Thailand’s Shin Corp through a Bt9.12 billion ($305 million) block trade. The deal was the second sell-down in a Bangkok-listed company this week. It was upsized by 50% and priced above the bottom of the indicated range.

The discount versus the latest close worked out at 10%, which reflected the fact that the stock is very illiquid. The free-float before this deal was just 4% and the offering accounted for about 150 days of trading volume……………………………………….Full Article: Source

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Posted on 19 August 2011 by VRS |  Email |Print

An arm of Singapore state-investment firm Temasek Holdings Pte. Ltd. has reduced its stake in a Thai company that played a central role in the 2006 coup that ousted the country’s then-prime minister, Thaksin Shinawatra.

Shin Corp., a Thai telecommunication company, said Thursday that Cedar Holdings Ltd. sold 253.5 million shares, representing a 7.9% stake, to a group of investors. Cedar Holdings is 49% owned by Temasek……………………………………….Full Article: Source

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Posted on 19 August 2011 by VRS |  Email |Print

It is not uncommon to think of the “issues” of sovereign wealth funds as one that is essentially binary–sovereign wealth funds as sources of sovereign wealth coming into the private markets of host states and investing in their equities. The issue then, as now endlessly reiterated, becomes one of whether this is a “good” or “bad” thing–the answer to which continues to defy consensus.
But reality, of course, provides material for a substantially more nuanced picture. One element of that nuance is sometimes overlooked–the value of sovereign wealth fund activities to powerfully positions economic actors in home states……………………………………….Full Article: Source

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Posted on 19 August 2011 by VRS |  Email |Print

GDF Suez says that a co-operation deal with China Investment Corporation (CIC) will help it to accelerate its growth in Asia.

The two companies have announced the signing of a memorandum of understanding (MOU) outlining a strategy to co-operate across multiple business sectors and geographical regions, but with an emphasis on Asia……………………………………….Full Article: Source

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Posted on 19 August 2011 by VRS |  Email |Print

In the Middle East there is the might of the world’s largest sovereign wealth funds, fueled by the oil price and increasingly looking for overseas investment opportunity. But set against that are modest and often constrained local stock markets, and the fact that few emerging market investors give the place more than a cursory look.
These divergent circumstances help to explain why global fund managers have taken a wide range of approaches to the region. At one extreme are the handful who have set up not only sales but manufacturing and portfolio management capability on the ground in the region, in some cases partnering with or even buying stakes in local operations……………………………………….Full Article: Source

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Posted on 19 August 2011 by VRS |  Email |Print

Pradera, which is managing the Cevahir shopping mall in Istanbul owned by the Kuwait Investment Authority, or KIA, is also preparing for investment opportunities in Turkey, said Kodal, noting that recently in a partnership with Krea Group, Pradera aims to acquire new shopping malls in Istanbul. “I trust in the Turkish economy and believe the country will attract more investors,” Kodal said.

Arab investment in Turkey totaled $10.6 billion at the end of last year, according to Ibrahim S. Dabdoub, chief executive of the National Bank of Kuwait, who recently spoke to the Daily News on the sidelines of the sixth Turkish-Arab Economic Forum in Istanbul……………………………………….Full Article: Source

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