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RAK Investment Authority Invests in African Consolidated Resources

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African Consolidated Resources plc is a listed company engaged in mining exploration activities in Zimbabwe. On January 21, 2013 the sovereign wealth fund of RAK Investment Authority through their sovereign wealth enterprise Brimfell Investment Holdings Limited subscribed to 45,000,000 in new shares.

African Consolidated Resources plc had an agreed subscription of 54,330,200 new ordinary shares of 1p each in the company at a price of 3.50 pence per new ordinary share to raise gross proceeds of £1.90 million.

Stock Ownership – Dated 25 January 2013

Shareholders Percentage Shares
Brimfell Investment Holdings Limited 10.07% 66,180,000
Williams De Broe 6.23% 40,934,867
Investec 5.24% 34,437,728
London Amsterdam Trust Co. 5.04% 33,108,064
Royal Bank of Canada 3.35% 21,997,035

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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