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Sovereign Wealth Funds Briefing 04.Jun 2014

Posted on 04 June 2014 by VRS |  Email |Print

YTL Corp Bhd’s Group Managing Director Tan Sri Dr Francis Yeoh Sock Ping has called for at least 30 per cent of sovereign wealth funds in Asia to be invested for infrastructure development. The move will help Asian countries provide efficient infrastructure to the people at the right price as well as boost national productivity.
However, he said most Asian countries did not produce the right amount of infrastructure as they should despite the growing wealth and high level of savings. The local government, he said, is currently making sure that the productivity towards infrastructure is being done, such as airport and railways, in order to cater to the increasing demand from consumers………………………………………..Full Article: Source

Posted on 04 June 2014 by VRS |  Email |Print

Hong Kong business tycoon Li Ka-shing has sold a nearly 25% stake in Hutchison Whampoa’s Watsons to Temasek Holdings of Singapore for HK$44 billion (US$5.5 billion) after speculation arose that the beauty retailer was planning to go public this year.
The Watsons deal for a 24.95% stake was equivalent to the current market valuation of HK$176.4 billion (US$22.8 billion), which was lower than the market expectation, however, the Watsons spinoff may result in a higher-value public listing………………………………………..Full Article: Source

Posted on 04 June 2014 by VRS |  Email |Print

Singapore sovereign wealth fund GIC and a US-based private equity firm will acquire anti-plagiarism software maker iParadigms for USD 752 million, the firms said Tuesday. Oakland, California-based iParadigms makes the cloud-based software Turnitin, which is used by universities around the world to review submitted works for plagiarism and accurate citations.
In a joint statement, GIC and New York-based Insight Venture Partners said the deal to acquire iParadigms will likely close in the third quarter of 2014, but did not give a breakdown of the investment………………………………………..Full Article: Source

Posted on 04 June 2014 by VRS |  Email |Print

The Nigeria Sovereign Investment Authority (NSIA) has entered into an arrangement to explore the possible creation of a Nigerian Credit Enhancement Facility (NCEF).
By partnering with GuarantCo, a local currency development finance fund, the facility would provide credit enhancement for domestic infrastructure projects by improving their credits ratings toward investment grade……………………………………….Full Article: Source

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