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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Sabah setting up sovereign wealth fund

Posted on 01 March 2016

Sabah is looking to develop its own sovereign wealth fund — Sabah Development Bhd — in the fashion of Khazanah Nasional Bhd, which is wholly owned by the federal government, sources say. It is understood that the final details — such as what assets will be injected into the entity — are being discussed now, and the plan has been gestating for more than a year.
“The plan is for the Ministry of Finance of Sabah to control the entity. The initial plan [involves Sabah Development having] a presence in a few sectors such as oil and gas, financial services and infrastructure, and possibly even one unit conducting strategic investments,” a source says………………………………………..Full Article: Source


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