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KWAP Invests in Corporate Perpetual Sukuk

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Kumpulan Wang Persaraan (KWAP), a Malaysian pension fund, has subscribed in the first tranche of Malaysian Airline System in the 2.5 billion ringgit sukuk. KWAP invested 1 billion ringgit and is the initial subscriber. A sukuk is essentially an Islamic bond. The government of Malaysia is working hard to make the country a major center of sukuk financing.

This sukuk-programme is the world’s first corporate perpetual sukuk. It is a debt/equity hybrid.

The rest of the sukuk subscribers are based in Malaysia. Maybank Investment Bank was the principal advisor, sole lead manager, and lead arranger.

KWAP seeks to achieve a nominal risk adjusted return of 8% per year over a five year rolling period. The fund invests in both active and passive investment strategies. They also utilize external fund managers when necessary.

QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Discloses Investment in Khairat Bahrain

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Bahrain Mumtalakat Holding Company disclosed an investment in Sudan called Khairat Bahrain. This is an agricultural investment in Sudan. The food and agriculture sector is key investment sector for many Gulf-based state investors. Khairat Bahrain is located in the world’s richest expanse of groundwater (the Nubian Sandstone Basin) occupying an area of approximately 100,000 feddans (400 square kilometers). The Nubian Sandstone Aquifer System is the world’s largest known fossil water aquifer system.

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Temasek Acquires Cybersecurity Firm Sygnia

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Singapore’s Temasek Holdings agreed to acquire Sygnia, Inc., an Israeli cybersecurity technology and services provider. Unverified estimates of the deal amount are around US$ 250 million. Sygnia runs out of Tel Aviv, but has an office in New York. Sygnia assists companies respond to cyber threats.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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