Connect with us

More Probes Into 1Malaysia Development Bhd

Published

on

goldbric

1Malaysia Development Berhad (1MDB) is a strategic development company owned by the Malaysian government whose goal is to assist in the long-term development of the country. Before 2009, there was a state-focused strategic investment fund called the Terengganu Investment Authority which received oil royalty payments. In 2009, Malaysian Prime Minister Najib Razak expanded Terengganu Investment Authority and formed it into a federal entity, renaming it 1Malaysia Development Berhad to focus on benefiting all of Malaysia. The development company had a number of goals including turning Kuala Lumpur into a key financial center and backing national economic developments. 1MDB has a board of directors which is chaired by the country’s prime minister, a board of advisors and senior management. Over the years, 1MDB forged relationships with numerous countries and heavy-weight organizations like the State Grid Corporation of China, International Petroleum Investment Company (IPIC), PetroSaudi International Limited, Abu Dhabi Future Energy Company, Qatar Investment Authority and Mubadala Development Company.

What Happened?

At the moment, 1MDB is having a challenging time repaying more than US$ 11 billion in accumulated debt. This has ensnared the attention of the press, Malaysian politics and the Malaysian prime minister. 1MDB’s deals have brought Goldman Sachs in the light again (Goldman is in a current legal battle with the Libyan Investment Authority), in which the financial advisor negotiated three of 1MDB’s bonds that total US$ 6.5 billion in 2012 and 2013, generating hefty fees. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Mergermarket Gets Ready to be Sold

Published

on

Private equity firm BC Partners hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. to advise on the sales of Acuris. Acuris is a collection of financial news and data sites, which includes Mergermarket, Dealreporter, and Debtwire. In 2017, BC Partners sold around a 30% stake in GIC Private Limited.

Before the rebranding to Acuris, Mergermarket was part of The Financial Times Group until 2013 when it was sold off to BC Partners.

Continue Reading

Why Japan Post Sees Promise in Aflac

Published

on

Aflac Inc. is an American insurance company founded in 1955. The company is the biggest provider of supplemental insurance in the United States. Aflac also has major operations in Japan.

In December 2018, Japan Post Holdings (JPHLF) signaled it was spending US$ 2.64 billion for a 7-8 % stake in Aflac. The goal is that, in four years time, Aflac will become an affiliate of Japan Post. Japan Post hopes to accomplish this by becoming the largest voting shareholder of the company. The world’s 13th largest company, with 400,000 employees, Japan Post needs to expand to chase further growth, mainly because Japan Post expects the postal business to decline. Diversification is seen as the optimal route to long term stability for the holding company. Japan’s economy is worrying. Japan’s aging population means that many insurance companies are facing a shrinking customer base, Japan Post settled on a plan to expand overseas.

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

Continue Reading

RDIF and Development Agency of Serbia Agree to Explore Joint Investments

Published

on

The Russian Direct Investment Fund (RDIF) and the Development Agency of Serbia, also known as Razvojna agencija Srbije, reached an agreement to work together to identify attractive investment projects to strengthen bilateral economic ties and increase investment flows between Russia and Serbia. Russian capital and businesses are keen on investing in Serbia.

In addition, the two countries signed an agreement to cooperate on civil nuclear energy, according to state-owned Russian reactor builder Rosatom (Rosatom State Nuclear Energy Corporation). Rosatom continues to expand it business of nuclear cooperation deals in a wide number of countries.

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.