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Friday SWFI News Roundup, December 12, 2014

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BC LNG Prosperity Fund Comments

The provincial government of British Columbia maintains a belief that its proposed US$ 100 billion LNG prosperity fund is still a possibility. BC Natural Gas Minister Rich Coleman argues that the LNG fund could reach over US$ 100 billion in over 30 years, despite global declines in the price of oil.

Matjila is the New CEO of South Africa’s PIC

South Africa’s US$ 151.3 billion Public Investment Corporation (PIC) has appointed Daniel Matjila as executive director and CEO. Matjila has been chief investment officer of the PIC since 2005. Matjila replaces Elias Masilela who resigned on June 30, 2014.

Russia Fund and India’s IDFC Sign MoU Totaling up to $1 Billion in Commitments

On December 11, the Russian Direct Investment Fund (RDIF) and IDFC Ltd., an Indian infrastructure investor, signed a Memorandum of Understanding (MoU) for US$ 1 billion in joint investments in infrastructure and related industries. Each company will commit up to US$ 500 million in future joint projects.

Head of Equities Leaves Future Fund

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Kuala Lumpur to Singapore Highway Delayed

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The Malaysian government under Prime Minister Mahathir bin Mohamad has been reprioritizing its large-scale infrastructure developments. The highly anticipated railway from Kuala Lumpur to Singapore has been delayed by another five years. The governments of Malaysia and Singapore signed a formal agreement on September 5, 2018. The previous ruling party in Malaysia had set the railway in motion, but the current administration is seeking time for further review. A joint statement suggested that the railway was still a certainty.

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Former FSDEA Chairman Arrested in Angola

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Jose Filomeno de Sousa dos Santos, the son of Angola’s former president and former chairman of the country’s sovereign wealth fund, has been placed under arrest, according to the state prosecutor’s office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Keppel Land China Acquires Stake in Nanjing Jinsheng Real Estate Development

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On September 20, 2018, Keppel Land China, a subsidiary of Singapore-based Keppel Corporation, purchased a 40% stake in Nanjing Jinsheng Real Estate Development Co, a subsidiary of Gemdale Corporation. Keppel Land China did the deal through an entity called Eternal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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