Sat, May 28, 2022
A A A
Welcome mteam
RSS
Sovereign Wealth Funds Briefing 23.Nov 2011

Posted on 23 November 2011 by VRS |  Email |Print

Montek Singh AhluwaliaAfter several years of debates and dilly-dally, India will have a Sovereign Wealth Fund (SWF) like many other regions including China, Singapore and Kuwait. The government has finally taken an “in principle” decision to set up an SWF. Top sources in the government say the modalities are being finalised and an announcement will be made as part of the Budget in February 2012.
At the outset, the idea of setting up an SWF has been discussed but no decision was taken as there was no agreement on the size of the corpus, how to finance such a fund, and the scope of such a fund………………………………………..Full Article: Source

Posted on 23 November 2011 by VRS |  Email |Print

New Delhi will soon take a final call on the issue of setting up of a sovereign wealth fund (SWF). The idea of setting up an Indian SWF has been going around since 2007 when China established its major sovereign wealth fund, China Investment Corporation (CIC), with an initial capital fund of $200 billion.
However, this time the proposal has received strong support from India’s corporate leaders who recently suggested the establishment of a state-owned SWF primarily to secure access to natural resources and pursue strategic investment opportunities overseas………………………………………..Full Article: Source

Posted on 23 November 2011 by VRS |  Email |Print

State-run energy company, Gujarat State Petroleum Corporation (GSPC) is holding talks with Singapore’s sovereign wealth fund- GIC, for fund raising. Government of Singapore Investment Corporation (GIC), is one of the world’s leading sovereign wealth fund, established by the Government of Singapore.
“After getting Gujarat government’s approval to raise Rs. 2,000-2,500 crore through private placement of equity, talks are now underway with GIC, the world’s leading sovereign wealth fund,” a top GSPC official told PTI, without divulging the percentage of equity that would be diluted in case the deal clicks. The Gujarat government currently holds 91.35 per cent equity stake in the company………………………………………..Full Article: Source

Posted on 23 November 2011 by VRS |  Email |Print

Singapore’s Temasek Holdings along with other investors invested a round of US$ 89 million in Portola Pharmaceuticals via preferred equity. Portola Pharmaceuticals is a San Francisco biotech company that is working on an anti-clotting drug called betrixaban.
This financing is for pushing the development through its Phase III betrixaban trial. Eight months ago Merck dropped its collaborative efforts with Portola Pharmaceuticals. Temasek Holdings has been an active investor in venture capital investments in the Silicon Valley………………………………………..Full Article: Source

Posted on 23 November 2011 by VRS |  Email |Print

Fly Firefly Sdn Bhd managing director Eddy Leong has quit from the community carrier owned by Malaysia Airlines (MAS). Leong, 39, had tendered his resignation yesterday and is likely to join Khazanah Nasional Bhd.
Leong confirmed that he had submitted his resignation but did not disclose details. Prior to joining MAS in 2003, Leong was in the audit and business advisory and business and risk consulting units in Arthur Andersen (which merged with Ernst and Young in 2002)………………………………………..Full Article: Source

Posted on 23 November 2011 by VRS |  Email |Print

The Korean government invited officials and business leaders from the Middle East and northern Africa to explain its plans to help reconstruct Libya a month after the death of Libyan dictator Moammar Gadhafi.
“The combination of Korea’s top-notch industrial technologies and the Middle Eastern sovereign wealth funds will create new business opportunities,” said Moon Jae-do, a ministry official in charge of industrial resources cooperation………………………………………..Full Article: Source

Posted on 23 November 2011 by VRS |  Email |Print

The State General Reserve Fund of the Sultanate of Oman has bought Budapest’s Gresham Hotel from Gresco, a company owned by Canadian, Cypriot and Irish investors, Napi Gazdaság reports.
The luxury hotel opened in the summer of 2004, after a Ft 23.5 billion renovation of the 1906 Art Nouveau palace. Four Seasons Hotels and Resorts will continue to operate the hotel………………………………………..Full Article: Source

Posted on 23 November 2011 by VRS |  Email |Print

Halyk Bank, Kazakhstan’s second-biggest lender by assets, expects to start buying back preference shares worth up to 20 billion tenge ($136 million) on the open market from December, a senior company official said on Tuesday.
Samruk-Kazyna, the sovereign wealth fund, owns slightly over 50 percent of preferred stock in the bank. Halyk said its planned buy-back on the open market was not part of its option agreement to buy out the preference shares held by the fund………………………………………..Full Article: Source

See more articles in the archive

banner
May 2022
M T W T F S S
« Nov    
 1
2345678
9101112131415
16171819202122
23242526272829
3031