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Sovereign Wealth Funds Briefing 19.Feb 2014

Posted on 19 February 2014 by VRS |  Email |Print

China Investment Corp. is selling energy and commodity holdings while seeking to capitalize on recovering U.S. and European economies, a major shift in strategy for the $600 billion sovereign-wealth fund.
Since late last year, CIC has unloaded more than $1.5 billion of shares in companies including AES Corp., a U.S. power company, and GCL-Poly Energy Holdings Ltd., a Hong Kong-listed green-energy company, according to regulatory filings by the companies. CIC, the world’s fifth-largest government-controlled fund, has also sold stakes in two other Hong Kong-traded wind-power companies, according to filings………………………………………..Full Article: Source

Posted on 19 February 2014 by VRS |  Email |Print

Malaysian sovereign wealth fund 1Malaysia Development Bhd (1MDB) plans to sell 2.4bn ringgit ($728.49mn) worth of Islamic bonds to finance the relocation of defence units from land marked for government development project Bandar Malaysia.
Bandar Malaysia Sdn Bhd, a unit of 1MDB Real Estate Sdn Bhd, said in a statement to the central bank yesterday that it will issue one- to 10-year sukuk by private placement to unnamed buyers. AmInvestment Bank Bhd is advising on the sale of the sukuk, which will not be rated by credit-rating firms………………………………………..Full Article: Source

Posted on 19 February 2014 by VRS |  Email |Print

Finance Secretary Cesar Purisima on Tuesday said the government is open to establishing a sovereign wealth fund to bring in more revenues. He said discussions are being made by the national government and the Bangko Sentral ng Pilipinas, but no decision has been made yet.
“There are several ways of putting it up, either the Bangko Sentral as part of the reserve employment strategy or the national government to put it up from the national government standpoint, but no decision has been made,” Purisima explained………………………………………..Full Article: Source

Posted on 19 February 2014 by VRS |  Email |Print

Singapore state investor Temasek Holdings (Private) Ltd , together with Chinese e-commerce giant Alibaba Group and venture-capital firm Qiming Venture Partners, has invested nearly US$100 million in TutorGroup, an online education start-up based and headquartered in Shanghai.
TutorGroup, in an announcement on Monday, said it will use this latest Series B funding to expand its presence in Asia and the Americas, where it now runs real-time, interactive and personalised language-learning programmes………………………………………..Full Article: Source

Posted on 19 February 2014 by VRS |  Email |Print

A group of Chinese investors has made a bet on the nation’s growing demand for warehouses with a $2.51 billion investment in Singapore’s Global Logistic Properties. GLP is 37% owned by Singapore sovereign-wealth fund GIC Pte. Ltd.
The group, which includes Bank of China Group Investment and private-equity firm Hopu Funds, will invest $2.35 billion in GLP China, giving it a 34% stake in the mainland unit of GLP, and $163 million in the Singapore-listed unit. Another member of the group is a large Chinese insurer, whose identity wasn’t disclosed………………………………………..Full Article: Source

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