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Mubadala Considers Selling Legacy Stake in RHB Bank

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Abu Dhabi-based Mubadala Investment Co. is reportedly considering whether to offload its 17.8% stake in RHB Bank Berhad, in what could be an end to the emirates’ decade-long relationship with Malaysia’s fourth largest lending institution. Mubadala is the second-largest shareholder in RHB behind the state-controlled Malaysian Employees’ Provident Fund (EPF), the largest provider of retirement benefits to private and non-pensionable public sector employees in the country, which owns 40.7%.

In 2017, merger plans were dropped between RHB Bank and AmBank Group over terms. RHB reported a 3.3% decline in net profits for the third quarter of 2017 compared to the same period last year, citing higher operating expenses and a modest increase in allowance for impairment, although the bank promised an improvement in its performance in 2018 as lending momentum in Malaysia’s banking sector appears to be picking up.

A Legacy Investment

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Follow the Money – Episode 45

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This longer-than-normal episode covers a wide range of issues including such as sovereign wealth funds, bitcoin, cryptocurrencies, Indian real estate, ESG, investment exclusions, central banking and more.

EPISODE 45

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The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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CalPERS Board Elects Priya Mathur as Board President

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The board of the California Public Employees’ Retirement System (CalPERS) elected Priya Mathur as board president. The current president Rob Feckner was named vice president of the board. Feckner previously served as board president and vice president.

Priya Mathur is serving her fourth term on the CalPERS Board of Administration. Mathur is a principal financial analyst for Bay Area Rapid Transit District (BART). Mathur represents public employees on the CalPERS Board, which she joined in 2002. She currently serves on four committees: Governance, Investment, Pension & Health Benefits, and Risk & Audit. She chairs the Pension & Health Benefits Committee and is vice chair of the Governance Committee.

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Oman SGRF Contemplates $1 Billion Infrastructure Fund

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Oman’s State General Reserve Fund (SGRF) is in discussions on forming a US$ 1 billion infrastructure fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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