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Sovereign Wealth Funds Briefing 25.Nov 2016

Posted on 25 November 2016 by VRS |  Email |Print

Azerbaijan’s state oil fund SOFAZ, which accumulates and manages oil and gas revenues of the resource-rich country, is projected to get some $100 billion from the sale of oil and gas in the next 15-20 years.
SOFAZ Executive Director Shahmar Movsumov, addressing a banking conference in Baku on November 24, said that regardless a significant drop in oil prices, the country continues production and export of oil, therefore it will further receive oil revenues. He noted that the Fund has so far received some $120 billion of oil revenues………………………………….Full Article: Source

Posted on 25 November 2016 by VRS |  Email |Print

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has hired HSBC to advise it on a potential purchase of a stake in ACWA Power, a developer and operator of power and water plants, sources close to the matter said.
Riyadh-based ACWA Power has chosen JP Morgan to advise it on the process, the sources, who spoke on condition of anonymity as the information is not public, said. Saudia Arabia aims to expand the PIF into the world’s largest sovereign wealth fund as part of economic reforms prompted by lower oil prices. As a result, it has been linked with or completed a number of domestic and overseas asset purchases in the past few months………………………………….Full Article: Source

Posted on 25 November 2016 by VRS |  Email |Print

The government is seeking to set up an investment holding company next year for government shareholdings, part of a wider effort to improve the performance of state enterprises. A law to boost the governance of such firms and enable the creation of the holding company may be enacted by March, according to Ekniti Nitithanprapas, the director general of the State Enterprise Policy Office.
“We’d like the holding company to work in an efficient way like Temasek or Khazanah,” Mr Ekniti said in an interview in Bangkok on Wednesday, referring respectively to Singapore’s state-owned investment firm Temasek Holdings Pte and Malaysia’s sovereign fund Khazanah Nasional Bhd………………………………….Full Article: Source

Posted on 25 November 2016 by VRS |  Email |Print

Thailand is seeking to set up an investment holding company next year for government shareholdings, part of a wider effort to improve the performance of state-controlled enterprises.
A law to boost the governance of such firms and enable the creation of the holding company may be enacted by March, according to Mr Ekniti Nitithanprapas, the director general of the State Enterprise Policy Office………………………………….Full Article: Source

Posted on 25 November 2016 by VRS |  Email |Print

Forty thousand people wearing yellow shirts gathered in Malaysia’s capital on November 19th, to protest against corruption and impunity in government. The rally was orderly and restrained; the response of the authorities was not. On the eve of the protest, police arrested Maria Chin Abdullah, leader of a coalition of human-rights groups that organised the event.
She was placed in solitary confinement, and can be held there for 28 days. Even by Malaysia’s dismal recent standards this marked a fresh low. Ordinary Malaysians should not stand by while their leaders undermine the rule of law so casually………………………………….Full Article: Source

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