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Sovereign Wealth Funds Briefing 13.Jun 2012

Posted on 13 June 2012 by VRS |  Email |Print

Tan Chong LeeTemasek Holdings Pte said the turmoil in Europe may result in a market slump rivaling the 2008 global financial crisis, creating opportunities for the Singapore state-owned investment company to make deals.
Temasek, which managed S$193 billion ($150 billion) as of March 2011, may fund European companies expanding in growth markets like Asia and Latin America, or form ventures with firms seeking mergers or acquisitions, Chief Investment Officer Tan Chong Lee said in a June 11 interview. Temasek is prepared to make “sizable” deals topping S$1 billion, he said………………………………………..Full Article: Source

Posted on 13 June 2012 by VRS |  Email |Print

IHH Healthcare’s US$2 billion (S$2.56 billion) listing has secured a strong cast of cornerstone investors including the Government of Singapore Investment, Temasek unit Fullerton Fund Management and Blackrock, sources said.
The dual listing of Asia’s largest hospital operator, slated for the Malaysian and Singapore bourses by the end of next month, comes as a string of initial public offerings have been delayed or scrapped because of investor worries about Europe’s debt crisis and China’s slowing economy………………………………………..Full Article: Source

Posted on 13 June 2012 by VRS |  Email |Print

SGRF, a sovereign wealth fund in Oman, is one of a few entities where the Sultanate channels its excess oil revenues. It was founded in 1980 by a royal decree. Its objectives are purely financial, meaning, it does not invest in companies with the view of otherwise benefiting the local economy, or other goals.
The OIF, established in 2006 to invest in long- and medium-term projects within and outside Oman, aims to achieve the best possible returns………………………………………..Full Article: Source

Posted on 13 June 2012 by VRS |  Email |Print

China established its official sovereign wealth fund China Investment Corp almost five years ago with the specific mandate to earn high returns by more actively investing abroad the dollars China earns from its exports.
Now CIC is just one of several of Beijing’s investment arms that have increasing clout in the world. Today there are at least six such arms although some are too small to be consequential. However, they are all putting ever more money outside China………………………………………..Full Article: Source

Posted on 13 June 2012 by VRS |  Email |Print

China Investment Corporation President Dr Fan Kung Sheng met Punjab Chief Minister Muhammad Shahbaz Sharif and discussed matters relating to investment in energy, mining and infrastructure sectors in Punjab.
Head of Asia Pacific Global Market (CIC) Clients Sufyan Zubairi, Managing Director Bank of America Merrill Lynch Ms Wei Wang, Provincial Energy Minister Ch Abdul Ghafoor, Chairman LTC Kh Ahmed Hasaan, Hafiz Mian Nauman, MPA, Vice Chairman Punjab Investment Board, Chairman Planning & Development, secretaries of Energy and Mining Departments were also present………………………………………..Full Article: Source

Posted on 13 June 2012 by VRS |  Email |Print

Echoing former Reserve Bank of India (RBI) governor C. Rangarajan, Ashima Goyal, a member of the central bank’s technical advisory committee, has called upon RBI to use foreign currency reserves to support the rupee.
However, as data for 1 June shows, India’s foreign exchange reserves fell for a sixth straight week. While the total figure of $285 billion looks comfortable enough, note that the cover they provide is dwindling. In 2007, the forex kitty amounted to three times the external financing requirements (short-term debt plus current account deficit), according to Citigroup estimates. That has fallen to 1.7 times for 2012………………………………………..Full Article: Source

Posted on 13 June 2012 by VRS |  Email |Print

An economist, Mr David Cowan, has said the Sovereign Wealth Fund (SWF) would strengthen the Nigerian economy. Cowan, Managing Director, Citigroup, said this at the Eminent Speakers Series III, organised by the Securities and Exchange Commission (SEC) in Abuja. The SWF is supposed to replace the Excess Crude Account (ECA)..
The SWF account, opposed by the state governors, is meant to finance infrastructure and provide a stabilisation fund in case oil prices fall………………………………………..Full Article: Source

Posted on 13 June 2012 by VRS |  Email |Print

Provincial opposition parties are calling for massive new investments in the Alberta Heritage Savings Trust Fund in the next two decades to help the province wean itself off oil and gas revenues.
“The Heritage Fund has been managed under very narrow constraints for more than 25 years to maintain its level, but not to grow as it was originally intended,” NDP MLA David Eggen said Tuesday………………………………………..Full Article: Source

Posted on 13 June 2012 by VRS |  Email |Print

A senior statesman in East New Britain province has supported Minister for Public Enterprises Sir Mekere Morauta, saying if Papua New Guinea was not careful with the Sovereign Wealth Fund, it will become “piggy banks” for political leaders.
Former secretary-general of the ACP Group of States and ENB regional seat candidate Sir John Kaputin commended Sir Mekere for his address to the annual meeting of PNG Sustainable Development Program in Port Moresby last week………………………………………..Full Article: Source

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