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Sovereign Wealth Funds Briefing 14.Jul 2016

Posted on 14 July 2016 by VRS |  Email |Print

In the midst of collapsing oil prices, oil-funded sovereign wealth funds (SWFs) are under pressure to liquidate assets, according to political risk advisory firm GeoEconomica. There was roughly a 20 per cent fall over the past year in the deposits and reserves stored in the Saudi Arabian Monetary Agency (SAMA) by the Saudi government, according to estimates.
This suggests that oil giants such as Saudi Arabia are now seeking to protect their budgets against dramatically declining revenues. SWFs are managed separately from a county’s official currency reserves. They are pools of money the government stores in funds or corporations to generate profits………………………………………..Full Article: Source

Posted on 14 July 2016 by VRS |  Email |Print

Temasek Holdings is increasingly turning its attention to U.S. technology companies in search of new growth, after the value of the Singapore government-owned investment company’s assets dropped for the first time in seven years amid China’s economic slowdown and cheaper oil prices.
The shift toward companies in areas such as financial technology and the so-called “sharing economy” is evident in Temasek’s annual performance report, released on July 7. In the year ended March, the sovereign wealth fund made new investments in online accommodation booking service provider Airbnb and digital payment platform PayPal, both based in California. Temasek also increased its investment in Beijing-based ride-hailing service Didi Chuxing, China’s answer to U.S.-based Uber………………………………………..Full Article: Source

Posted on 14 July 2016 by VRS |  Email |Print

Grappling with its first portfolio decline in 7 years, Singapore’s state-owned investment company Temasek Holdings is looking to mixed martial arts (MMA) to score a knockout amid a challenging economic climate.
Temasek’s wholly-owned subsidiary Heliconia Capital Management is leading a consortium to invest in Singapore-based MMA promoter One Championship. While the value of the deal was not disclosed, it was reported to be worth a “significant eight-figure sum” and could see One Championship grow beyond the $1 billion valuation mark………………………………………..Full Article: Source

Posted on 14 July 2016 by VRS |  Email |Print

Singapore sovereign wealth fund GIC said on Wednesday (July 13) that it has invested in a real estate fund that has acquired the newly-built Hyundai Logistics Distribution Center in South Korea for US$130 million (S$175 million).
The real estate fund, managed by South Korean ADF Asset Management, had purchased the 126,708sqm, grade-A dry storage logistics center from LogisKowel, the developer of the asset. The center is in the city of Incheon, a prime industrial and logistics hub with strong transport links to major cities nationwide………………………………………..Full Article: Source

Posted on 14 July 2016 by VRS |  Email |Print

UBS Group flagged suspicious transactions linked to 1Malaysia Development Bhd (1MDB) to the Monetary Authority of Singapore (MAS), prompting an investigation of the accounts involved, a person familiar with the matter said.
The transactions were not immediately recognised by UBS as suspicious, said the person, who asked not to be identified because the matter is private. At least US$1.24 billion (S$1.67 billion) was transferred in 2014 from the account of a 1MDB subsidiary held at BSI SA in Lugano, Switzerland, to a UBS account in Singapore held by what appeared to be a unit of an Abu Dhabi company, UK-based investigative blog Sarawak Report said on July 11………………………………………..Full Article: Source

Posted on 14 July 2016 by VRS |  Email |Print

The Norwegian central bank (Norges Bank) has, as the first in the world, excluded 52 companies from its Government Pension Fund based on the companies inexpedient use of coal in their business activities. Philippine Aboitiz Power (AP) and 7 Chinese and 2 Hong Kong companies was hit by the exclusion.
The decision to exclude companies that doesn’t live up to the ethical guidelines determined by the Council on Ethics for the Government Pension Fund. 120 companies are right now listed for reasons as corruption, violations on human rights, production of tobacco, nuclear weapons etc………………………………………..Full Article: Source

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