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Temasek Invests in Strategic Development Deal in Penang

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Singapore’s Temasek Holdings is investing in a development for a technology park and business process outsourcing (BPO) hub in Penang, a populous state in Malaysia. The two projects are called Penang International Technology Park, located in Batu Kawan, and Business Processing Outsourcing Prime, located in Bayan Baru. Together the price tag is US$ 3.52 billion and will take 5 to 10 years to complete.

Penang wants to be a major BPO hub competing against the Philippines and India.

To fund the project, a joint venture is being created with the Malaysia Penang Development Corporation (PDC), a development agency of the Penang government, and Economic Development Innovations Singapore Pte Ltd , a city development management company, and Temasek Holdings. The memorandum of understanding was signed on May 23, 2014. The Penang Development Corporation will hold a 51% stake in the development. Temasek and other investors will hold the remaining stake.

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

Stream off Follow the Money

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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