Sat, May 15, 2021
A A A
Welcome mteam
RSS
Sovereign Wealth Funds Briefing 17.Oct 2014

Posted on 17 October 2014 by VRS |  Email |Print

Prime Minister Datuk Seri Najib Razak’s controversial pet cash cow spin, 1Malaysia Development Berhad (1MDB), has denied that it is the country’s second national Sovereign Wealth Fund (SWF), after Khazanah Nasional. In an Oct 9 posting on its webpage titled “Frequently asked questions (FAQ) about 1MDB”, it reiterated that 1MDB was a strategic development company, wholly owned by the federal government, specifically the Finance Ministry.
So, 1MDB belongs to the government, rakyat and Malaysia, right? But it is not a SWF?Well, then let’s make way for 1MDB, initially set up as the Terengganu Investment Authority in 2009, to split hairs on what it really is………………………………………..Full Article: Source

Posted on 17 October 2014 by VRS |  Email |Print

Australia’s sovereign wealth fund, the A$101 billion Future Fund, has just upped the stakes in not only attracting the best co-investment deals from fund managers, but in its bid to attract the world’s best investment professionals. Two months ago the fund’s long serving chief investment officer, David Neal, become chief executive in name (following the resignation of the previous CEO Mark Burgess, who held the role for nearly three years), but he might more accurately be described as the fund’s chief big picture strategist.
Frustrated at the lack of time he had to think strategically as chief investment officer, in his new role he now largely focuses on this alone, while former head of infrastructure and timberland Raphael Arndt has been promoted to chief investment officer where he designs, implements and oversees the investments and Steve Gilmore, as head of investment strategy, focuses on the overall risk exposure of the portfolio. The latter two tasks were both formerly led by Neal when he was chief investment officer………………………………………..Full Article: Source

Posted on 17 October 2014 by VRS |  Email |Print

Citycon has today agreed to acquire GIC’s 40 per cent stake in the Iso Omena shopping centre in the Helsinki region. After this transaction, Citycon owns 100 per cent of the existing shopping centre. The purchase price is in line with the current fair value of Iso Omena. GIC has been a co-investor in Iso Omena since 2008. During this period, Iso Omena has shown strong performance with net rental income increasing by approximately 30 per cent, and footfall and sales by approximately 17 per cent.
“We have been very pleased with the joint venture with GIC and want to thank them for their commitment in making Iso Omena one of the best shopping centres in the Helsinki region. As we enter a new development phase, we believe full ownership of the property will provide flexibility in terms of future development possibilities,” says Citycon’s CEO Marcel Kokkeel……………………………………….Full Article: Source

Posted on 17 October 2014 by VRS |  Email |Print

The upcoming mixed-use development in Penang by Temasek and Penang Development Corporation (PDC) is targeting international companies as tenants in a bid to bolster Penang’s role as a major business process outsourcing (BPO) hub.
The Economic Development Innovations Singapore Pte Ltd (EDIS) said that it hopes to draw international names to set up shop in the 2.7 hectare mixed-use site, which is about seven minutes’ drive from the second Penang bridge and the Penang airport………………………………………..Full Article: Source

Posted on 17 October 2014 by VRS |  Email |Print

Prime Minister Datuk Seri Najib Razak must explain what has happened to a RM4 billion loan secured by a wholly-owned subsidiary of the Ministry of Finance, which failed to submit its annual accounts on time, a DAP lawmaker said today.
Petaling Jaya Utara MP, Tony Pua said SRC International Sdn Bhd had secured a RM4 billion Islamic loan from the government’s pension fund, Kumpulan Wang Amanah Persaraan (KWAP), and which was guaranteed by the federal government.The loan was disbursed in two tranches in August 2011 and March 2012……………………………………….Full Article: Source

Posted on 17 October 2014 by VRS |  Email |Print

The Bank of Zambia has suggested that the proposed setting up of a sovereign wealth fund should be housed at the central bank. Finance Minister Alexander Chikwanda announced during the budget presentation that K100 million was allocated for the establishment of a sovereign wealth fund and suggested that the fund will be housed under the Industrial Development Corporation.
But Bank of Zambia Deputy Governor for Administration Dr Mabula Kankasa said it would be prudent if the fund was managed by the central bank. She was speaking on Wednesday when she led a team from the Bank of Zambia in making a presentation to the Expanded Estimates Committee on the 2015 national budget at Parliament buildings………………………………………..Full Article: Source

Posted on 17 October 2014 by VRS |  Email |Print

Moody’s indicated that Kuwait owns $400 billion worth of assets in its sovereign wealth fund, i.e., twice the GDP. There is no doubt that these assets generate adequate returns to Kuwait, thus consolidating its sovereign revenues. Kuwait was able to boost the value of these assets, given its ability to achieve significant financial surpluses in recent years, which confirms its ability to invest new assets in diversified investments around the world.
Even if the surpluses fall in the coming years due to an oil price drop, the government can maintain a good level of surplus due to the rationalization of current spending……………………………………….Full Article: Source

Posted on 17 October 2014 by VRS |  Email |Print

Afghanistan and Kazakhstan are interested in joining the Baku-Tbilisi-Kars (BTK) railway project, Azerbaijan’s Transport Minister Ziya Mammadov told reporters on Oct.16. He made the remarks on the sidelines of the “Baku-Tbilisi-Kars railway line - new opportunities in the development of the Silk Road” international conference in Baku.
The State Oil Fund of the Republic of Azerbaijan (SOFAZ) finances the project in accordance with the Azerbaijani president’s decree ‘On the implementation of the Baku-Tbilisi-Kars project activities’ dated February 21, 2007………………………………………..Full Article: Source

See more articles in the archive

banner
banner
banner
banner
May 2021
M T W T F S S
« Nov    
 12
3456789
10111213141516
17181920212223
24252627282930
31