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Sovereign Wealth Funds Briefing 16.Apr 2014

Posted on 16 April 2014 by VRS |  Email |Print

Kazakh National Welfare Fund, Samruk-Kazyna will put up over 200 companies for sale within the framework of privatization program, the Chairman of the Board of Samruk Kazyna, Umirzak Shukeev said. In particular, the companies which are engaged in non-core business will be privatized, for example, those companies which produce solar panels in Kazatomprom.
Furthermore, the privatization will include those companies that compete in the market with private companies or do not have strategic importance, do not relate to matters of national security, and have no social significance………………………………………..Full Article: Source

Posted on 16 April 2014 by VRS |  Email |Print

Umirzak Shukeyev, Head of Samruk-Kazyna Sovereign Wealth Fund, announced a list of companies to run IPOs in 2014-2016 and unveiled plans to privatize some state-owned companies. “In 2014 plans are there to float 10% minus one share in Kazakhstan Electricity Grid Operating Company (KEGOC) and 75% in Mangistau Distribution Company. 100% in the Atyrau thermal power plant, 75.6% in Temirzhol Zhondeu, 51% in Temirzhol Energo, 49% in Semser Security; 51% in Lokomotiv-2030, 50% in Zhambyl regional power plant will be offered through auctions”, Shukeyev said.
According to Shukeyev, 10% minus one share in Samruk-Energo, up to 49% in KazTransGasAimak and KazTransGas-Almaty, 49% in Transtelecom, and 10% minus one share in KazTemirTrans will be floated in 2015. “Shares in 14 companies, including Eurasia-Air and KazMortransFlot owned by KMG will be offered through auctions”, he elaborated………………………………………..Full Article: Source

Posted on 16 April 2014 by VRS |  Email |Print

$2.7 billion out of the National Oil Fund accumulating windfall oil revenues is to be allocated in 2014 to stimulate the country’s economy growth, Tengrinews.kz reports, citing the country’s Minister of Economic Affairs Yerbolat Dossayev.
“One of the sources to boost the country’s economy growth will be $5.5 billion out of the National Oil Fund to be allocated in 2014 and 2015. $2.7 of the amount will be allocated this year, with $552 million being spent to support small and middle-sized businesses, another $1.3 billion being spent to bolster the country’s banking sector, and $ 828 million to support the Industrial Development Program………………………………………..Full Article: Source

Posted on 16 April 2014 by VRS |  Email |Print

$1.3 billion will be allocated out of the National Oil Fund to finance the Toxic Assets Fund, the country’s Minister of Economic Affairs Yerbolat Dossayev told a briefing April 14. The vehicle will be buying out toxic assets from the country’s banks. Regulating rules will be formulated by July 1, 2014.
The toxic assets fund under the National Bank of Kazakhstan was launched in April 2012. Mid-February 2014 at the extended government sitting Kazakhstan’s President Nursultan Nazarbayev commissioned banks’ heads to reduce the share of NPLs “in any possible ways” to 15% of their portfolio by 2015 and further to 10% by 2016………………………………………..Full Article: Source

Posted on 16 April 2014 by VRS |  Email |Print

Do the Norwegians know something the market doesn’t? Norway’s $840 billion national government pension fund, run by the country’s central Norges Bank, seems to.
The fund has been buying Tesco in a big way in advance of full-year numbers due out this morning. A statement by the company dropped just after the closing bell yesterday revealing that Norges Bank, already Tesco’s largest investor, has upped its bet on Britain’s biggest supermarket chain again………………………………………..Full Article: Source

Posted on 16 April 2014 by VRS |  Email |Print

Abu Dhabi’s vast sovereign wealth fund has joined forces with the largest shareholder in Formula One motor racing in the race to buy Spire Healthcare, one of Britain’s biggest private hospital groups. Abu Dhabi Investment Authority (ADIA) is backing a takeover bid for Spire that is being assembled by CVC Capital Partners, the London-based private equity firm.
The pair are competing against other financial investors such as KKR and Onex, with rival hospital operators including HCA and Ramsay, an Australian company, also monitoring the situation. Spire, which employs nearly 8,000 people, has been owned by Cinven, another buyout firm, since it was formed from the purchase of Bupa’s hospitals business in 2007………………………………………..Full Article: Source

Posted on 16 April 2014 by VRS |  Email |Print

In the Zimbabwe we want, a Sovereign Wealth Fund must be managed as the country’s endowment to future generations. It is not a fund to be plundered by government and used to meet current needs, but a savings account that must accumulate over time and be used to meet future developmental needs.
The Sovereign Wealth Fund can only be viable where there is disciplined fiscal management and there is no temptation to use that money for recurrent expenditure. In a country such as Zimbabwe there exists a huge probability of abuse of a Sovereign Wealth Fund to meet current revenue gaps………………………………………..Full Article: Source

Posted on 16 April 2014 by VRS |  Email |Print

Al-ajial investment fund of kuwait investment authority (kia) is investing 400 million euro in the wessal capital gulf-morocco venture an equal share to that put in by the sovereign funds of saudi arabia qatar the uae and morocco.
Al ajial investment fund general manager waleed al-fehaid told reporters in casablanca late tuesday that 780 million of the total investment would be channeled to the wessal casablanca-port project. king mohammed vi had earlier in the day inaugurated the project which is aimed to bolster this gulf-morocco partnership………………………………………..Full Article: Source

Posted on 16 April 2014 by VRS |  Email |Print

1Malaysia Development Bhd (1MDB) has submitted its long-awaited accounts for the financial year ended March 31, 2013 on April 9, according to the Companies Commission of Malaysia (SSM). “1MDB has submitted the company’s annual return together with the audited financial statement for the financial year ended March 31, 2013 on April 9, 2014,” SSM said.
“As such, 1MDB has complied with the requirement of section 165(4) Companies Act 1965 (Act 125) which requires company to submit its annual return within one month after the annual general meeting (AGM),” it added………………………………………..Full Article: Source

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