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State of Indonesian State Owned Enterprises

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Hatta Rajasa

Indonesian state-owned enterprises (SOEs) play a major part in the Indonesian capital markets. In September 2010, listed SOEs contributed to 29.5% of the total market capitalization on the Indonesian Stock Exchange. Like Malaysia and other Southeast Asian countries, Indonesia wants to increase privatization to drive the development of their capital markets and diversify sectors. Hatta Rajasa, Coordinating Minister for the Economy, recently said the Indonesian Government would halt plans for more state-owned enterprise initial public offerings this year. In addition, the Government of Indonesia is actively trying to limit the number of outstanding state-owned enterprises from 142 to 72 by 2014. Like many Asian centrally planned economies with state-owned enterprises, many are trying to grow profitability and increase operational efficiency.

As of fiscal year 2009, total revenues of Indonesian state-owned enterprises exceeded Rp 986 trillion (US$ 106 billion).  Also as of December 31, 2009, the assets of Indonesia state-owned enterprises reached 40% of GDP.

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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