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Sovereign Wealth Funds Briefing 06.Nov 2015

Posted on 06 November 2015 by VRS |  Email |Print

As it turns out, sovereigns don’t always win: many thought Malaysia’s Khazanah Nasional had a done deal when it offered €750 million for Globalvia last summer – only to see Spanish-based Bankia and FCC, current owners of the concessions business, sell the asset to Canada’s OPTrust, the Netherlands’ PGGM and the UK’s USS this week after the pensions matched the fund’s bid.
1MDB, another Malaysian state-backed fund, is divesting assets rather than hunting for them. It is now hoping to get about $3 billion for its energy unit. The institution’s troubles are largely down to gross mismanagement; it doesn’t help that $700 million have mysteriously disappeared from its coffers, with the Prime Minister accused of channelling the money to his personal accounts. Still, it shows that sovereigns sometimes have their own particular issues to deal with………………………………………..Full Article: Source

Posted on 06 November 2015 by VRS |  Email |Print

A unit of Kazakhstan’s sovereign wealth fund agreed to double capacity of a solar power plant to 100 megawatts at a cost of about $106 million. TOO Samruk-Kazyna Invest signed a deal with United Green Group to expand the capacity of their venture in the Zhambyl region of southern Kazakhstan, the Astana-based fund said by e-mail on Wednesday. Samruk-Kazyna didn’t say how the expansion will be financed.
Last year, Kazakhstan’s government set tariffs for energy produced by renewables in a bid to get 3 percent of electricity from cleaner sources by 2020. Kazakhstan, the largest oil producer in Central Asia, has sought development of renewable energy, including investment in solar panel production by state-run uranium producer Kazatomprom………………………………………..Full Article: Source

Posted on 06 November 2015 by VRS |  Email |Print

Kazakhstan’s sovereign wealth fund Samruk-Kazyna announced on Thursday that a wholly-owned entity has agreed with the United Green Group to double the capacity of a 50-MW solar plant in the Kazakh province of Zhambyl.
Samruk-Kazyna Invest LLP entered into the USD-105.5-million (EUR 97m) agreement during the Kazakh-British Business Council, which was held on November 3 as part of a visit to London by Kazakhstan’s President Nursultan Nazarbayev………………………………………..Full Article: Source

Posted on 06 November 2015 by VRS |  Email |Print

Qatar has had the feast – now comes the self-imposed famine. The country’s absolute ruler Sheikh Tamim bin Hamad al-Thani on Nov. 3 told his subjects that they should prepare for harder times. After the decade-long splurge that saw Qatar buy significant stakes in companies such as Volkswagen AG, Barclays and Glencore, the belt-tightening won’t just pinch in Doha.
Oil wealth has made Qataris among the world’s richest people, with a GDP per capita close to $100,000, according to the World Bank. But, Sheikh Tamim said, it has encouraged Qataris to be wasteful. Arguably the biggest example is its sovereign wealth fund, which is thought to hold $334 billion in assets. Next year might see Qatar fall to a budget deficit, its first in 15 years………………………………………..Full Article: Source

Posted on 06 November 2015 by VRS |  Email |Print

On November 05, 2015 Anjan Malik sold 1,68,000 shares of eClerx Services at Rs 1,760.05 and Mundhra Priyadarshan sold 2,50,000 shares at Rs 1,760.38 on the BSE. However, Abu Dhabi Investment Authority bought 2,53,533 shares at Rs 1,760.05.
On Thursday, eClerx Services ended at Rs 1,771.85, down Rs 93.55, or 5.02 percent on the BSE. The share touched its 52-week high Rs 1,949.15 and 52-week low Rs 1,218 on 23 October, 2015 and 10 December, 2014, respectively………………………………………..Full Article: Source

Posted on 06 November 2015 by VRS |  Email |Print

The Republic’s sovereign wealth fund GIC and Chinese aesthetic and corective company Bloomage BioTechnology on Thursday (Nov 5) announced a joint investment agreement, where GIC will become a key shareholder of Bloomage BioTech by investing HK$659 million (S$119.43 million) into the company.
In a media release, Bloomage BioTech said GIC would subscribe for its shares to support the company in building up the aesthetic medical ecosystem in China “through organic growth and acquisitions”. The investment includes the subscription for HK$465 million of convertible bonds and HK$194 million of new shares, of which:……………………………………….Full Article: Source

Posted on 06 November 2015 by VRS |  Email |Print

The Hong Kong Exchange Fund turned around in October from the HK$36.8 billion in losses it made during the first three quarters of the year, the Hong Kong Economic Journal reported Friday. The report cited Norman Chan Tak-lam, chief executive of the Hong Kong Monetary Authority, who wrote in his blog that the fund basically turned around at the end of the month.
He said the manager of the sovereign fund, which fuels the HKMA’s efforts to maintain the peg between the Hong Kong dollar and the US dollar, has adopted defensive measures to minimize the fund’s losses.The fund has reduced its investment in long-term bonds and increased its holding of cash over the past two years to prepare for the potential impact on bond investments of an interest rate hike, Chan wrote………………………………………..Full Article: Source

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