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Khazanah Creates SPV with India’s IDFC

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khazanah nasionalKhazanah Nasional Berhad created a special purpose vehicle (SPV) together with a subsidiary of India’s Infrastructure Development Finance Company (IDFC). The SPV will have RM 478 million in equity capital.

The SPV will assist in financing India’s national highway construction projects.

In 2011, Khazanah Nasional and the Infrastructure Development Finance Company created a joint venture to fund an infrastructure development company honing on India’s roads. Khazanah held an 80.1% stake in that venture. The first investment in their joint venture was in Jetpur Somnath Tollways Limited.

Top Ten Equity Holders of IDFC Limited Percentage
Government of India 17.27%
Khazanah Nasional Berhad 9.99%
Life Insurance Corporation of India 4.95%
LIC Nomura Mutual Fund Asset Management Company Ltd. 3.29%
J.P. Morgan Asset Management (Hong Kong) Ltd. 3.01%
Standard Chartered PLC 2.02%
First State Investments (UK) Ltd. 1.59%
Housing Development Finance Corporation Ltd 1.32%
Vanguard Group, Inc. 1.31%
Macquarie Investment Management Ltd. 1.31%

Source: Government Filings, 6/30/2012

Youtube is Crashing

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Youtube, a video service of Google, is crashing. Institutional investors are major investors in Alphabet, the parent company of Google.

At 6:41 PM on October 16, 2018, Team YouTube tweeted, “Thanks for your reports about YouTube, YouTube TV and YouTube Music access issues. We’re working on resolving this and will let you know once fixed. We apologize for any inconvenience this may cause and will keep you updated.”

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Investors Eye Tencent’s Next Moves

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Formed in Shenzhen in 1998, Chinese tech giant Tencent Holdings Limited is the largest gaming company in the world and the largest gaming market is in China. In August 2018, China’s Education Ministry disclosed its monitoring how many new games are coming online. Tencent needs approval from the Chinese government to publish games. In 2017, almost 9,000 games were approved in China compared to only 1,931 in 2018. Chinese President Xi Jinping is keen on combating shortsightedness in children from the overuse of video games.

Anime

Tencent will inject US$ $317.6 million into Chinese streaming site Bilibili in return for 12.3 % equity in the company. Bilibili is a video sharing site known for streaming anime, comics, and games. Tencent’s investment follows previous funding rounds from Tiger Global Management, Wells Fargo, JPMorgan Chase, BlackRock, and Alkeon Capital Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Ireland Strategic Investment Fund Signs MoU with IFC

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The International Finance Corporation (IFC) and the Ireland Strategic Investment Fund (ISIF) inked a Memorandum of Understanding (MoU) that will initially focus on investment opportunities in the food and agriculture sector, given its strength and importance for the Irish economy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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