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Sovereign Wealth Funds Briefing 20.Feb 2013

Posted on 20 February 2013 by VRS |  Email |Print

Qatar will create a new $12 billion investment firm, backed by blue-chip assets from its sovereign wealth fund, and list it on the local stock exchange, its main institutional backer said on Tuesday. Qatar Holding—the investment arm of the Qatari sovereign fund—said the new firm will invest in assets around the world.
“You name it—shares, bonds, real estate, private equity. We will look at every sector in every country around the world,” Hussain al-Abdullah, Qatar Holding’s vice-chairman, said…………………………………..Full Article: Source

Posted on 20 February 2013 by VRS |  Email |Print

Qatar Holding LLC, the foreign investment arm of the country’s sovereign wealth fund, plans to seek a credit rating from Standard & Poor’s and Moody’s Corp (MCO) in the “next few months” and had zero corporate debt on its balance sheet at the end of last year, the fund’s chief executive officer said.
“We have never been highly leveraged,” Ahmad Mohamed Al-Sayed, the fund’s chief executive officer, said in a phone interview with reporters. “In 2012, the balance sheet had zero corporate debt.”………………………………….Full Article: Source

Posted on 20 February 2013 by VRS |  Email |Print

Qatar plans to invest 50 billion Qatari riyals (USD 17 billion) in industrial companies in the next three years, Qatar Investment Authority Board Member Hussein Al-Abdullah said here Tuesday.
Meanwhile, he remarked Qatar Holding, owned by Qatar Investment Authority, posted a 17.4 percent rise in net profits in 2012. The company has doubled the profits of its department store Harrods to 108 pounds in 2012 from 54 million pounds before it bought the famous London department store…………………………………..Full Article: Source

Posted on 20 February 2013 by VRS |  Email |Print

Samruk-Kazyna National Welfare Fund will start cost saving, Tengrinews.kz reports citing the Fund’s press-service. 11 Kazakhstan companies have already implemented the cost saving program. “The group is expected to save around 70 billion tenge ($467 million) in three years. The fund’s cost saving program was developed with the help of international consultants.
All business processes, self-costs and other expenses of the companies were analyzed. The program is expected to improve the competitiveness and optimize the group’s activities. The three-year program is being implemented by KazMunaiGas, Kazakhstan Temir Zholy, KazAtomProm, Kazakhstan Engineering, Samruk-Energy, KEGOC, KazpPochta, Kazakhstan Development Bank, SK-Farmatsiya, Damu and Samruk-Kazyna Fund,” the press-service said…………………………………..Full Article: Source

Posted on 20 February 2013 by VRS |  Email |Print

CapitaLand Malaysia and Temasek Holdings will develop a $3.2 billion township with Iskandar Waterfront Holdings in Malaysia’s Danga Bay. The agreement was inked today by the three companies at Danga Bay Convention Centre, witnessed by the prime ministers of Singapore and Malaysia.
The township development is located in one of five flagship zones in Iskandar Malaysia, and is about 10km from the Johor Causeway…………………………………..Full Article: Source

Posted on 20 February 2013 by VRS |  Email |Print

Tebrau Teguh Bhd rose in early trades following news reports that Singapore’s Temasek Holdings Pte Ltd and a subsidiary will buy a man-made island from its major shareholder Iskandar Waterfront Holdings Bhd (IWK).At 10.39 am, the 6th most active stock was flat at 92.5 sen after rising 2.7% to a high of 95 sen, with trades of 10 million shares, against a declining broader market.
A dealer told theedgemalaysia.com: “This stock is seen as a proxy to Iskandar Malaysia development. There is so much happening there that you cannot ignore it…………………………………..Full Article: Source

Posted on 20 February 2013 by VRS |  Email |Print

The Alabama House has given final passage to a bill that requires full repayment of money transferred from an oil and gas revenues savings account to the state’s General Fund budget. The House voted 90-0 Thursday to approve an amendment put on in the Senate that requires repayment of the money even if the Legislature doesn’t appropriate the funds.
An amendment to allow the state to take the money from the Alabama Trust Fund and use it for the cash-strapped General Fund budget was approved by voters in September. Before voters decided on the amendment, Bentley and some legislators promised the money would be repaid…………………………………..Full Article: Source

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