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Oman India Joint Investment Fund Invests in ING Vysya Bank Ltd

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The Oman India Joint Investment Fund (OIJIF), the co-investment vehicle between Oman’s State General Reserve Fund (SGRF) and the State Bank of India, has undertaken a number of deals in India. In late July 2013, the joint venture fund acquired a small stake of less than 1% in Indian-lender ING Vysya Bank Ltd. The Bangalore-based bank is part of ING and is a publicly-traded stock.

Oman-India bilateral economic ties continue to strengthen as Omani capital flows into India. India’s robust information technology sector has provided services to businesses in Oman. For example, India expatriates in Oman exceed 600,000.

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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