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Sovereign Wealth Funds Briefing 25.Sep 2013

Posted on 25 September 2013 by VRS |  Email |Print

The Labor leadership candidate Bill Shorten has backed the idea of higher superannuation payments to build a sovereign wealth fund to help pay for the care of the increasing numbers of Australians living into their 80s and 90s.
Referring to a plan floated by the former prime minister Paul Keating, Shorten said Labor should consider “big” new ideas, like “encouraging people to save for a sovereign wealth fund that enables people to draw down on that resource when they need it in their 80s and 90s”………………………………………..Full Article: Source

Posted on 25 September 2013 by VRS |  Email |Print

Russian potash producer Uralkali said Tuesday that China’s sovereign wealth fund has acquired a 12.5% stake in the company by exercising an option on convertible bonds it bought late last year. The bonds had been issued by a special purpose vehicle called Wadge Holdings Ltd., which was owned by Uralkali’s primary shareholder Suleiman Kerimov and his partners Filaret Galtchev and Anatoly Skurov.
The 12.5% stake is now held by the Chengdong Investment Corp., a subsidiary of the China Investment Corp. The bonds had been due to mature in 2014. CIC’s stake is worth about 64.5 billion rubles ($2.03 billion) based on the current share price of RUB174.75 on the Moscow Exchange………………………………………..Full Article: Source

Posted on 25 September 2013 by VRS |  Email |Print

Chinese sovereign wealth fund CIC has become the second largest shareholder in Uralkali, the world’s largest potash producer, in the latest shake-up to hit the industry.
CIC, which converted bond holdings into equity equivalent to a 12.5 per cent stake, will have one seat on the Uralkali board, giving the Chinese fund greater insight into the company’s negotiating and pricing policies………………………………………..Full Article: Source

Posted on 25 September 2013 by VRS |  Email |Print

Pavilion Energy Pte, the liquefied natural gas unit of Singapore’s state-owned investment company, wants to invest in Asian terminals and infrastructure to further its aim of supplying gas to the region.
Pavilion Energy, owned by Temasek Holdings Pte, will add more funds to its initial authorized capital of $1 billion to fulfill its ambitions, Chief Executive Officer Seah Moon Ming said at an LNG conference in Singapore today. He didn’t say how the company will raise the additional money………………………………………..Full Article: Source

Posted on 25 September 2013 by VRS |  Email |Print

The South Australian Government has detailed plans to set up a future fund for the state. Premier Jay Weatherill said contributions would be made to the fund only when the budget was in surplus.
The Government hopes the first injection of $20 million from mining royalties will be made into the fund in 2015-16. Mr Weatherill said the money would be spent on infrastructure and on programs to benefit the development of children………………………………………..Full Article: Source

Posted on 25 September 2013 by VRS |  Email |Print

Datuk Seri Najib Tun Razak officiated Khazanah Nasional Berhad’s regional office for the Amerikas, Khazanah Americas Incorporated (KAI), in San Francisco Sunday.He hoped that the opening of this office would help propel Malaysia into a developed nation status by the year 2020.
The Prime Minister said Malaysia’s visionary ambitions to reach a developed nation status by 2020 could be achieved by moving up the value chain and creating an economy driven by knowledge, innovation and technology………………………………………..Full Article: Source

Posted on 25 September 2013 by VRS |  Email |Print

Mubadala Real Estate & Infrastructure, a business unit of Mubadala Development Company, and Gulf Related, a regional real estate development company focused on high-end retail, residential and mixed-use real estate developments in the Middle East, announce Dh248 million refinancing of The Galleria debt with the National Bank of Abu Dhabi, following the successful opening and 100 per cent leasing of the retail mall in August.
The Dh248 m refinancing facility will help The Galleria to further strengthen its capital structure, reduce its borrowing cost and generate over 50 per cent in annual interest expense savings………………………………………..Full Article: Source

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