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Sovereign Wealth Funds Briefing 10.Jan 2012

Posted on 10 January 2012 by VRS |  Email |Print

Mariya GanchevaThe benchmark 2018 bond of Kazakh sovereign wealth fund’s BTA Bank hit 10-day highs on Monday, on speculation the bank would pay overdue $160 million coupons rather than risk creditors calling in billions of dollars of outstanding debt.

The struggling bank’s management shocked investors late in December with an announcement it could seek to restructure its debt for the second time following a 2010 deal. It also said it may not find cash for a coupon due January 3…………………………………….Full Article: Source

Posted on 10 January 2012 by VRS |  Email |Print

Ciaran Burns Korea Investment Corporation, South Korea’s sovereign wealth fund, bought an office block opposite the Bank of England for about 75 million pounds ($116 million), its first foray into the perceived safe haven of the London property market.

In a deal completed days before Christmas, KIC bought the 80,000 square feet block at 1 Bartholomew Lane, in which it occupies the top floor, in a deal that will see U.S. developer Hines act as the asset manager, a source told Reuters…………………………………….Full Article: Source

Posted on 10 January 2012 by VRS |  Email |Print

Asian sovereign wealth funds are leading investment in the City of London and Canary Wharf as capital dries up for big-ticket assets, according to Cushman & Wakefield.

Head of City investment Bill Tyser told IP Real Estate that, since 2008, Asian sovereign wealth fund investors had acquired on average four properties annually in London’s financial district, targeting what he described as “large, shiny, well-let, freehold, income-producing buildings” with price tags above £100m (€120m)…………………………………….Full Article: Source

Posted on 10 January 2012 by VRS |  Email |Print

Major breakdowns in Singapore’s metro system exposed serious flaws in the security-obsessed country’s ability to respond to an emergency, the transport minister admitted Monday. Metro operator SMRT’s main investor is state investment agency Temasek Holdings.
“The execution of emergency preparedness plans… ought to be significantly improved,” Lui Tuck Yew, a former Singapore Navy chief, told parliament…………………………………….Full Article: Source

Posted on 10 January 2012 by VRS |  Email |Print

Led by Premier Wen Jiaobao, the Financial Work Conference is held once every five years, and has great significance for the global financial market. At the last conference in 2007, Jiaobao launched the China Investment Corporation onto the asset management market. CIC is now one of the world’s largest sovereign wealth funds.

This year, China has announced the continued development of the banking system. The government released a communiqué after the conference in which the authorities encouraged the diversification of ownership within the financial sector, and the development of new pools of capital to lend to private business……………………………………Full Article: Source

Posted on 10 January 2012 by VRS |  Email |Print

Central Huijin Investment Co, the investment arm of China’s sovereign wealth fund, further raised its stake in Industrial and Commercial Bank of China or ICBC to 35.43%, the sources reported.

The report said that Huijin bought 38.47 million more shares of ICBC, the world’s biggest lender by market value, after its purchase of 14.58 million shares on October 10, 2011. At the end of 2011, Huijin held 123.69 billion shares of the Chinese lender…………………………………….Full Article: Source

Posted on 10 January 2012 by VRS |  Email |Print

Qatar Nationals Hotels Company (QNH) said on Monday it has taken over the ownership of two iconic Raffles properties in Singapore and Paris. “Adding these iconic properties to our portfolio represents consistent steps of QNH’s strategic expansion at the international level,” said Hamad Abdulla Al Mulla, CEO of QNH.
Qatari Diar, Qatar Investment Authority’s property arm, in August announced it had won a bid to buy London’s Olympic Village in a £557m in a joint deal with the UK developer Delancey…………………………………….Full Article: Source

Posted on 10 January 2012 by VRS |  Email |Print

Qatar National Bank (QNB), the Gulf Arab state’s largest lender, reported a 40 percent jump in quarterly profit on Monday on increased lending and a surge in deposits. It is 50 percent owned by sovereign wealth fund Qatar Investment Authority.

The bank’s fourth-quarter net profit rose to QR2.1bn ($576.6m), according to Reuters calculations, from QR1.5bn a year earlier…………………………………….Full Article: Source

Posted on 10 January 2012 by VRS |  Email |Print

KazMunaiGas Exploration Production said its crude oil production fell in 2011 due to industrial action over the summer months, adding that it plans to increase capital expenditure in 2012.
KMG EP said it was in discussions with the government and Kazakhstan’s sovereign wealth fund “to ensure that shareholder interests are properly taken into consideration” concerning the extra costs related to the ventures…………………………………….Full Article: Source

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