Sun, Oct 26, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 23.May 2012

Posted on 23 May 2012 by VRS |  Email |Print

Jin LiqunChina faces “invisible impediments” to investing in some parts of Europe, with Europeans nervous about allowing it to move into sectors such as nuclear power, a senior official at China’s sovereign wealth fund said on Tuesday.
“European companies should treat Chinese companies fairly and equitably - we still feel some invisible impediments to our investments in some of the countries in Europe,” Jin Liqun, chairman of the board of supervisors of China Investment Corp (CIC), which manages assets totalling more than $400 billion, told a seminar………………………………………..Full Article: Source

Posted on 23 May 2012 by VRS |  Email |Print

The euro zone’s handling of the debt crisis has been more damaging than the crisis itself, a senior official at China’s sovereign wealth fund said Tuesday.
Jin Liqun, chairman of the supervisory board of China Investment Corp., said in a speech that political gridlock is leading the currency area “deep into the woods” rather than toward a solution to its debt crisis, which has reignited following political upheaval in Greece that has called into question its future in the euro zone………………………………………..Full Article: Source

Posted on 23 May 2012 by VRS |  Email |Print

Jin Liqun, chairman of China Investment Corp.’s supervisory board, said European authorities have shown a “lack of leadership” on the euro area’s debt crisis and other countries may leave if Greece exits the single currency bloc.
“Ever since the debt crisis broke out, there has never been a master plan for a resolution,” Jin said at an event hosted by the Centre for Policy Studies in London late yesterday. “The core members of the monetary union certainly have to keep an eye out for possible copycats should the Greeks be allowed to escape from the crisis unscathed.”……………………………………….Full Article: Source

Posted on 23 May 2012 by VRS |  Email |Print

The yuan could be used to settle 10% to 15% of international transactions in 10 or 20 years time, a senior official at China’s sovereign wealth fund said Tuesday.
Jin Liqun, chairman of the supervisory board of China Investment Corp., said China’s currency is “well on its way” to becoming an international reserve currency but its role is still “insignificant” compared to the dollar or euro………………………………………..Full Article: Source

Posted on 23 May 2012 by VRS |  Email |Print

Markets may be heading into a rough patch over the next two years as a result of the euro zone crisis, said the chief investment officer of Temasek Holdings.
Hence there will be both near-term risks and opportunities for the investment firm, said Tan Chong Lee on Tuesday. Tan, who was responding to a letter in Today newspaper asking for more details about Temasek’s investments in Chinese banks, said that the firm is a long-term investor that invests for future generations………………………………………..Full Article: Source

Posted on 23 May 2012 by VRS |  Email |Print

Real estate group Mapletree Investments recorded a 6.2 per cent rise in full-year net profit to $793 million. The increase for the 12 months to March 31 came as the firm, which is wholly owned by Temasek Holdings, continued to expand regionally and enhance its capital management business.
The company said shareholders’ funds grew 12 per cent to $6.5 billion while it recorded a return on equity of 12.8 per cent. The average annual return on equity for the past five years is 13.1 per cent………………………………………..Full Article: Source

Posted on 23 May 2012 by VRS |  Email |Print

Khazanah Nasional Bhd will provide a safety net rather than an outright bailout of Malaysia Airlines (MAS). MAS announced yesterday, it has almost secured about RM8.8 billion to fund its capital expenditure (capex) and working capital requirements.
The announcement, however, was fitted with a statement that Khazanah will take up any shortfall in funding via an equity capital injection. “That equity injection is to help finance any unfunded aircraft capex and also for any unfunded working capital needs which there are none at this time………………………………………..Full Article: Source

Posted on 23 May 2012 by VRS |  Email |Print

A year before Colin Barnett first announced plans for a future fund, merchant banker Justin Mannolini emailed his old university mate Christian Porter to pitch an idea that would paint the Government as visionary while changing the conversation around State debt.
Mannolini, the managing director of Gresham, an investment bank chaired by leading businessman Michael Chaney, sent an email to the Treasurer in February last year to see if the Government had any interest in a sovereign wealth fund………………………………………..Full Article: Source

Posted on 23 May 2012 by VRS |  Email |Print

The Supreme Court Monday in Abuja fixed September 25 for the definite hearing of the suit filed by governors of the 36 states of the federation against the Federal Government over the Sovereign Wealth Fund (SWF).
This followed the failure of the federal and state governments to reach amicable out-of-court settlement. The apex court had on March 26 adjourned the matter to enable the 36 states and the Federal Government settle the dispute on the Excess Crude Account (ECA) out of court………………………………………..Full Article: Source

Posted on 23 May 2012 by VRS |  Email |Print

Following the collapse of the Federal Government’s proposed out of court settlement in the disputed N1 billion deducted from the Excess Crude Account to fund the Sovereign Wealth Fund, SWF, the Supreme Court on Monday fixed 25 September, 2012 for definite hearing of a case instituted by the 36 states of the federation.
The states are challenging the legality of the Federal Government’s transfer of the said amount to the Sovereign Wealth Funds. The Presidency had earlier asked the Supreme Court for an adjournment to enable it explore the out of court settlement option with the 36 state governments………………………………………..Full Article: Source

Posted on 23 May 2012 by VRS |  Email |Print

Talks between the Federal Government and the 36 states on the legality of the Excess Crude Account (ECA) may have collapsed. A full panel of the Supreme Court headed by the Chief Justice of Nigeria (CJN), Justice Dahiru Musdapher, yesterday fixed September 25 for definite hearing of the suit filed by the states.
The states are challenging the legality of the Excess Crude Account and the decision of the Federal Government to transfer $1 billion from the account to the Sovereign Wealth Fund (SWF)………………………………………..Full Article: Source

Posted on 23 May 2012 by VRS |  Email |Print

Trust has remained sorely lacking in the governance of Nigeria. Lagos State Governor Babatunde Fashola (SAN) made this point tellingly last week in an address before the Pan-Africa Investor Conference of Renaissance Capital, in which he explained why his fellow governors have not embraced the controversial Sovereign Wealth Fund (SWF) – not to be confused with Single White Female in the “personal” pages of American newspapers —the Federal Government is planning to establish.
State governors simply do not trust the Federal Government to manage the fund judiciously and use it for what it is meant, Fashola said………………………………………..Full Article: Source

See more articles in the archive

banner
October 2014
M T W T F S S
« Sep    
 12345
6789101112
13141516171819
20212223242526
2728293031