Michael Maduell, president of the Sovereign Wealth Fund Institute (SWFI) told
AsianInvestor that INA should embody three main characteristics to minimise any risk of corruption: independence from the presidency; good corporate governance “including a strong board of directors that declare any conflicts of interest”; and audited financials made available to the public “from a qualified auditor .
According to plans announced by the ministries of finance and state-owned enterprises, which are establishing the fund, INA will likely fall short of Maduell’s preferred standards. HHP Law Firm, the local entity of international law firm Baker McKenzie, said in a report the SWF would be established “as a 100% government-owned legal entity…[and] be responsible directly to [Indonesian] President [Joko Widodo] .
Meydan’s two main lines of business – real estate and horse-racing – will remain separate
December 17, 2020
Investment Corp. of Dubai is gaining a larger footprint in the emirate’s property market by asserting control over state-owned developer Meydan’s real estate projects.
“We have embarked on a review of Meydan’s business strategy,” Mohammed Al Shaibani, ICD’s chief executive officer, said in an emailed reply to questions. “Our aim is to improve efficiencies in operations.”
Meydan, which built Dubai’s horse racetrack, is now overseen by the same government committee that earlier this year took charge of Nakheel, another builder managed by the wealth fund, according to people familiar with the matter. ICD is also the biggest shareholder in Emaar Properties, Dubai’s largest developer.
Dubai wealth fund takes control of developer Meydan arabianbusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabianbusiness.com Daily Mail and Mail on Sunday newspapers.
Deep Dive with Lyazzat Borankulova, Managing Director for Strategic Development of Samruk-Kazyna
Posted on 12/16/2020
This is a deep dive interview with Lyazzat Borankulova, Managing Director for Strategic Development of Samruk-Kazyna.
General information about Samruk-Kazyna
The sovereign wealth fund Samruk-Kazyna (the Fund) was founded in 2008 as a holding company by the decree of the President of Kazakhstan and is currently within the Top-20 global sovereign wealth funds in terms of the value of assets under management. The main mission of the Fund is to preserve and create wealth for future generations, with the government of Kazakhstan being the sole shareholder. By the end of 2019, the total assets under management of Samruk-Kazyna stood at over US$ 69 billion, comprising systematically important companies in oil & gas, mining, transportation, power, telecom, postal, chemicals, and real-estate sectors of Kazakhstan, with domestic market share ranging from 26% to 100%. We ar