Sat, May 15, 2021
A A A
Welcome mteam
RSS
Sovereign Wealth Funds Briefing 01.Jul 2016

Posted on 01 July 2016 by VRS |  Email |Print

Malaysia Airlines Bhd. has appointed Chief Operating Officer Peter Bellew as its group managing director and chief executive, as it looks to recover from the catastrophic loss of two jetliners in 2014. Khazanah Nasional, Malaysia’s sovereign-wealth fund and sole owner of Malaysia Airlines, said in a separate statement it approved the appointment.
The carrier said in statement Thursday that Mr. Bellew, a former director of Ryanair Holdings who joined Malaysia Airlines in September, will assume the role from July 1. The announcement came two months after the carrier’s group managing director and CEO, Christoph Mueller, announced plans to step down in September, citing personal reasons………………………………………..Full Article: Source

Posted on 01 July 2016 by VRS |  Email |Print

The two government investment funds at the heart of a Malaysian financial scandal are disappearing as the two sides try to put the situation behind them even as they battle over billions of dollars that have gone missing.
Abu Dhabi announced on Wednesday that International Petroleum Investment Company is being merged into another fund in the Emirate. Most of the assets of 1Malaysia Development Bhd. have been sold or transferred to the country’s Ministry of Finance………………………………………..Full Article: Source

Posted on 01 July 2016 by VRS |  Email |Print

International Petroleum Investment Co’s legal tussle with Malaysia’s 1MBD was not a consideration in its proposed merger with fellow Abu Dhabi investment firm Mubadala, a person close to IPIC said.
“The merger will bring together two of Abu Dhabi’s significant investment companies each with their respective strengths to create an even larger more efficient company with combined assets of US$135bn,” the person close to IPIC told IFR on Thursday. “In a deal on this scale, 1MDB was not a consideration.”……………………………………….Full Article: Source

Posted on 01 July 2016 by VRS |  Email |Print

2015 net loss for the year was $2.6 billion compared to a profit of $1.5 billion in 2014. Says revenue for 2015 fell by 30 pct compared to 2014 to reach $35.8 billion. Says profit after-tax before impairment losses was us $3.3 billion in 2015 compared to $2.3 billion in 2014.
Due to declining crude oil price, asset valuation in exploration & production segments were negatively impacted; record pre-tax impairment losses of $5.2 billion on its oil & gas assets……………………………………….Full Article: Source

Posted on 01 July 2016 by VRS |  Email |Print

The Investment Corporation of Dubai (ICD), the sovereign wealth fund owned by the government of Dubai, has recorded a 12.8 per cent rise in its full-year profit from continuing operations for 2015 to reach AED25.2 billion, the fund said on Tuesday. This compares with a profit of AED22.3bn seen in the previous year.
The corporation has stakes in more than two dozen Dubai-based companies across various industries, including Emirates Airlines, Emirates National Oil Company (ENOC), Emirates NBD and Emaar Properties………………………………………..Full Article: Source

Posted on 01 July 2016 by VRS |  Email |Print

In $1.2 billion lawsuit, country’s sovereign-wealth fund accuses Goldman of leading novices into disastrous investment. A Goldman Sachs Group Inc. executive testified that Libya’s sovereign-wealth fund knew what it was doing when it bought derivatives from the bank that later soured, disputing allegations that Goldman led an inexperienced buyer into a disastrous investment.
The Libyan Investment Authority, or LIA, understood the disputed derivatives it bought from Goldman, Andrea Vella, co-head of Asian investment banking at Goldman, told the High Court in London on Thursday………………………………………..Full Article: Source

Posted on 01 July 2016 by VRS |  Email |Print

Goldman Sachs Group Inc. executive Andrea Vella told a London court that former colleagues who criticized the bank, including the author of a book alleging it mistreated clients, were being dishonest because they wanted to make money.
Testifying in a $1 billion trial between Goldman Sachs and Libya’s sovereign wealth fund, Vella dismissed comments from two former employees that cast the bank in a negative light. Vella, co-head of Asia investment banking, was shown a chapter of Greg Smith’s book “Why I Left Goldman Sachs” about hunting elephants, a reference to the relentless pursuit of very large trades………………………………………..Full Article: Source

Posted on 01 July 2016 by VRS |  Email |Print

A Goldman Sachs executive’s alleged arranging of prostitutes for himself and the brother of a decision-maker at Libya’s sovereign wealth fund was completely unacceptable behaviour for an employee of the bank, the first witness called by Goldman told a court on Thursday.
In a trial at London’s High Court, the Libyan Investment Authority (LIA) is attempting to claw back $1.2 billion (906.34 million pounds) from the Wall Street investment bank from nine disputed trades carried out in 2008………………………………………..Full Article: Source

Posted on 01 July 2016 by VRS |  Email |Print

State Oil Fund of Azerbaijan earned AZN 23,217,800,000 from increase of value of currency and assets. This includes AZN 22,501,000,000 from rise of exchange rates of USD, EUR, GBP and other currencies and AZN 716.8 million from increase of gold portfolio due to reassessment of foreign currency and assets.
Moreover, SOFAZ’s extra budgetary expenses from difference of exchange rates of currencies and price of gold amounted to AZN 1,998,200,000………………………………………..Full Article: Source

Posted on 01 July 2016 by VRS |  Email |Print

State Oil Fund of Azerbaijan has made public amount of the incomes from rental properties in 2015. APA-Economics reports the Fund has earned AZN 19,896,204 or £9,648,048 from rental office located in 18 Saint James str., London.
Moreover, SOFAZ earned €5,860,400 or AZN 10,015,423 from rental property in n° 8, place Vendôme Paris, KRW 31,071,645,406 or AZN 41,542,790 from office complex in Pine Avenue Tower A in Seoul, South Korea………………………………………..Full Article: Source

Posted on 01 July 2016 by VRS |  Email |Print

The sale of Azeri-Chirag-Guneshli oil constituted 94.9% of all revenues. Last year the average estimated sale price of exported profit oil made $54.31, while the net profit price was on the level of $48.06.
According to Oxu.Az, the due figures are contained in the report on the State Oil Fund’s activity in 2015. In line with the Production Sharing Agreements on development of onshore and offshore fields in Azerbaijan, SOFAZ revenues from profit oil and gas amounted to $7,229,100,000 or AZN 7,369,600,000………………………………………..Full Article: Source

Posted on 01 July 2016 by VRS |  Email |Print

Private equity (PE) entities invested $3,602 million across 129 deals during the quarter ended June, as against $4,278 mn across 169 transactions in the same period last year, about 16% less. According to Venture Intelligence, the investment was 7% lower than the immediate previous quarter ($3,890 mn across 169 transactions).
Singalore’s sovereign wealth fund, GIC, and Abu Dhabi’s ADIA and Malaysia’s Khazanah participated in mega investments. As with the renewable power-focused Greenko Group (that raised $230 mn from ADIA and GIC) and analytics BPO firm Fractal Analytics ($100 mn from Khazanah). Canada-based Fairfax Group committed $300 mn to chemicals manufacturer Sanmar Group (on the heels of its $321 mn bet in Bangalore International Airport, announced in March)………………………………………..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