28.10.2013 - Selangor plans RM1bln sovereign wealth fund
The Selangor state government is planning to set up a RM1 billion sovereign wealth fund as a way to develop its major urban centres like Petaling Jaya and Klang into “worldclass” cities. The Selangor Urban Development Fund will raise part of the money from private sector businesses in real estate and infrastructure development by leveraging assets like state-owned land. The fund will be parked under the state’s Mentri Besar Inc. Selangor Menteri Besar Khalid Ibrahim revealed the plan in Johor while presenting a paper at the Future of Urban Living Conference in Iskandar...............................................Full Article: Source
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