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Sovereign Wealth Funds Briefing 23.Apr 2014

Posted on 23 April 2014 by VRS |  Email |Print

Temasek is one of the world’s largest sovereign wealth funds with assets of more than S$200 billion and investments in over six continents. Temasek’s investments are classified under five different categories: 1) Financial services; 2) Telecommunication, media, and technology; 3) Transportation and industrials; 4) Life sciences, consumer, and real estate; and 5) Energy and resources.
Shipping, airlines, defence, power generation – you name it, Temasek has it. In Singapore, the fund’s most notable investment in this space is Keppel Corporation, which by itself is a huge conglomerate with business interests in shipbuilding, rig-building, construction, and property development among others………………………………………..Full Article: Source

Posted on 23 April 2014 by VRS |  Email |Print

Malaysian state investment fund 1Malaysia Development Bhd (1MDB) relied on a sharp revaluation of its property assets to drive profit growth in its last financial year, accounts released today showed. The improvement came despite 1MDB paying more than RM10 billion to buy power businesses in the past two years.
1MDB, whose board of advisers is chaired by Prime Minister Najib Razak and which has been criticised for a lack of transparency, last week reported a net profit of RM778 million for the year through March 2013, up from RM44.7 million the previous year……………………………………….Full Article: Source

Posted on 23 April 2014 by VRS |  Email |Print

The Fundo Soberano de Angola, the $5 billion sovereign wealth fund of Africa’s second-largest oil producer, is starting investments in hotels and commercial infrastructure in sub-Saharan Africa. The fund, based in Luanda, may invest in 50 sub-Saharan African hotels over three years, including in its home country, Chairman Jose Filomeno dos Santos said.
In addition to the hotel fund, it is also setting up an infrastructure fund that will participate in projects including ports, airports and power plants, added the 36-year-old eldest son of the nation’s President Jose Eduardo dos Santos………………………………………..Full Article: Source

Posted on 23 April 2014 by VRS |  Email |Print

The government is formulating legislation for the establishment of a Sovereign Wealth Fund in a bid to manage the proceeds from natural gas. The upshot is ensuring that the resource benefits current and future generations, President Jakaya Kikwete has said.
The president has revealed that the government would by October, this year or February, next year, move a Bill in the National Assembly for establishment of the fund. The country has so far discovered 43.1 trillion cubic feet (tcf) of natural gas in offshore and onshore gas fields and exploration is still ongoing………………………………………..Full Article: Source

Posted on 23 April 2014 by VRS |  Email |Print

In his opinion, the Emerging Markets Strategist, Standard Bank Plc, Samir Gadio said the oil revenue, which is continuously monetised and shared among the three tiers of governments, prevents any tangible accumulation of the forex reserves as well as the Excess Crude Account (ECA).
Gadio added: “Clearly, this model is not sustainable. Nigeria is already a distinct laggard in terms of fiscal savings-to-GDP ratio compared to oil producing peers and will most likely be unable to withstand an external shock should oil prices fall in the future.”He stressed the need to make the Sovereign Wealth Fund very effective, adding that there is need for increased fiscal accountability………………………………………..Full Article: Source

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