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Sovereign wealth fund

Norman Chan Tak-lam, the former CEO of the Hong Kong Monetary Authority. Photo: Xiaomei Chen
Banking & finance

Hong Kong urged to boost capital flow with mainland for global market access

Former HKMA head Norman Chan says capital circulation is not as seamless as it used to be.

Hong Kong politics

Beijing names financier Qi Bin as deputy director of Hong Kong liaison office

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FII conference

Hong Kong start-ups find warm welcome, big opportunities in Saudi Arabia

Malaysia

With ChatGPT and hashtags, Malaysians show unease with Fashion Valet losses

Malaysians have turned to social media tools to investigate Fashion Valet co-founder Vivy Yusof’s collection of luxury bags and shoes.

Vivy Yusof, co-founder of Malaysian e-commerce firm Fashion Valet. Photo: Instagram/vivyyusof
Malaysia

US$10 million fashion fail prompts Anwar to probe Malaysia sovereign fund picks

The loss of Khazanah’s investment in an online fashion retailer has sparked outrage among a public still sensitive after the 1MDB scandal.

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Hong Kong Monetary Authority (HKMA)

FII 2024: Hong Kong, Saudi Arabia to anchor US$1 billion investment fund

In addition, Hong Kong and Saudi market regulators announce a partnership to spur cross-border listings and training.

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The Philippines

Can the Philippines’ Maharlika fund bridge the gap between Manila and Beijing?

The fund’s CEO, Rafael Consing Jnr, believes the Philippines should leverage opportunities from China, despite maritime disputes.

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The fund’s CEO, Rafael Consing Jnr, believes the Philippines’ relationship with China should be viewed beyond the lens of any individual conflict and that there are wider opportunities for collaboration. Photo: Eugene Lee
Start-ups

HKIC makes strategic investments in biotech, clean energy and health

The three start-ups have opened offices in Hong Kong to leverage the city’s talent and research prowess.

Hong Kong economy

UAE, Saudi officials call for Hong Kong businesses to list, expand in Middle East

Hong Kong tycoon Victor Fung also says region can be a ‘launching pad’ for local businesses at forum attended by Middle Eastern leaders.

Malaysia 1MDB scandal

Kim Kardashian, Pharrell got US$2.4 million of 1MDB funds via Jho Low: court

A Malaysian court heard that US$2.4 million from 1MDB was transferred to Kim Kardashian and Pharrell Williams via Jho Low’s shell company.

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1MDB funds were misappropriated to celebrities, including Kim Kardashian, via Jho Low’s shell company, a Malaysian court heard. Photo: WireImage
Malaysia 1MDB scandal

Swiss court jails 1MDB fraudsters over US$1.8 billion theft from Malaysian fund

The court emphasised the severity of the crimes, citing the high amounts of money involved and the defendants’ selfish motives.

Patrick Mahony (left) and Tarek Obaid (right) arrive at the Swiss Federal Criminal Court in Bellinzona last week. Photo: AFP
Malaysia 1MDB scandal

Swiss court convicts PetroSaudi executives over US$1.8 billion 1MDB scandal

The verdict marks the latest development in the complex international corruption scandal.

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Banking & finance

Saudi Arabia wealth fund signs US$50 billion deals with 6 Chinese institutions

Agreements with top financial institutions including BOC, CCB and ICBC aim to promote two-way capital flows through both debt and equity, Public Investment Fund says.

Investing

Sovereign investors look to emerging markets as geopolitical tensions rise: study

Geopolitical tensions have surpassed inflation as the primary concern for sovereign investors, prompting them to invest more in emerging markets and gold, according to the survey by Invesco.

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Tension between the US and China is top of the list of concerns, which may benefit emerging markets such as India and Brazil, as manufacturers could opt for these markets to diversify their supply chains and production bases, according to the survey. Photo: AP
Singapore

Singapore’s US$288 billion Temasek stays bullish on China with eye on US, India

The city state’s sovereign wealth fund says its main priority is building a ‘resilient portfolio’ that can withstand market ‘dislocations’.

Temasek is now the 11th largest sovereign wealth fund in the world. Photo: Bloomberg
Malaysia

‘Don’t have much saved’: Malaysians dip into retirement funds in their millions

Faced with rising costs and low wages, cash-strapped Malaysians jumped at the chance to drain billions from the mandatory savings fund.

Banking & finance

Exclusive | CIC to tap China-Middle East investment opportunities via Partners Group

The Swiss private equity firm is working with China Investment Corp and other sovereign funds as investment flows grow between China and the Middle East.

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Malaysia

Jho Low, US reach confidential deal to try to ‘forever’ resolve 1MDB-linked case

The confidential agreement, which has yet to be publicly disclosed, is tied to the announcement on Wednesday by the DOJ that it is to recover an additional US$100 million in resolving two civil forfeiture cases.

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Fugitive financier Jho Low has signed a secret deal with the US DOJ to “forever” end a 1MDB-linked forfeiture case, according to CNA. Photo: SCMP
Banking & finance

Explainer | What is the HKIC and why is it important for Hong Kong’s economic development?

The HKIC will use its initial corpus of HK$62 billion (US$8 billion) to support innovative start-ups, enhance economic growth and generate returns for the government.

Malaysia 1MDB scandal

Jho Low to forfeit Warhol, Monet art in US$100 million 1MDB settlement with US

The fugitive financier will also give up a luxury Paris flat and real estate and bank accounts in Hong Kong, Singapore and Switzerland.

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Hong Kong economy

Opinion | Why Hong Kong needs to embrace failure to succeed

A spirit of adventure – from small businesses to the government wealth fund – is crucial as Hong Kong faces rapid changes and challenges.

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AI company Smartmore’s founder and chairman Jia Jiaya chats with Financial Secretary Paul Chan Mo-Po and Hong Kong Investment Corporation (HKIC) CEO Clara Chan Ka-chai on June 12 at the Ritz-Carlton Hotel, where a strategic partnership deal was signed between Hong Kong’s wealth fund and the Hong Kong unicorn. Photo: Sun Yeung
Banking & finance

How Clara Chan, ‘goddess’ and ‘little chilli’ in Cathay bailout, became HKIC CEO

Clara Chan’s role in the Cathay rescue earned her the nickname ‘goddess’ from some airline executives, while others called her ‘little chilli’ for being a tough negotiator.

Clara Chan took over as CEO of the HK$62 billion Hong Kong Investment Corporation in October last year. Photo: Enoch Yiu
Banking & finance

Hong Kong’s wealth fund to debut in June with tech, biotech, energy deals

Government-owned HKIC will invest in hard and core technology, biotechnology, and new energy and green technologies as authorities seek to strengthen innovation and technology to provide sustainable economic development in the city.

Tesla

Elon Musk’s US$56 billion Tesla pay package opposed by Norway’s state fund

Norway’s US$1.7 trillion sovereign wealth fund says it is concerned about the total size of Musk’s pay package and seeks to discuss with Tesla on the issue.

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Banking & finance

Singapore’s sovereign wealth fund trims stake in China’s biggest lender ICBC

Temasek Holdings, Singapore’s sovereign wealth fund, cut its stake in the Industrial and Commercial Bank of China (ICBC) twice in one day last week, reducing its share of the lender to less than 5 per cent.

The state investor reported a 5.2 per cent drop in its net portfolio value to US$283.4 billion in the financial year ended March 2023. Photo: Shutterstock
Hong Kong stock market

Lenovo issues US$2 billion convertible bonds to Saudi Arabia sovereign fund

Lenovo’s convertible bond sale follows similar offerings by e-commerce giants Alibaba and JD.com as issuers seek to lower funding costs in a high rate environment by capitalising on a red-hot stock market.

An employee gestures next to a Lenovo logo at Lenovo Tech World in Beijing, China Photo: Reuters
Banking & finance

China’s sovereign fund launches US$1 billion Middle East fund with Investcorp

The Golden Horizon Fund, which will target companies across the Gulf Cooperation Council countries and China, marks the first time that CIC has invested in the Middle East.

Banking & finance

Saudi delegation visits mainland cities, Hong Kong to tout megalopolis Neom

Seven-day tour includes closed-door forums in Beijing, Shanghai, Hong Kong, and Shenzhen to seek potential partners for the ambitious urban-development project.

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Sovereign wealth fund
The latest news, analysis and opinion on Sovereign wealth fund. In-depth analysis, industry insights and expert opinion.
last updated:
9 September, 2024
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