Sovereign wealth funds (SWF) - GIC, Temasek, Khazanah

3 August 2014: Singapore GIC and Temasek  returns, Khazanah-Temasek tie-up on Iskandar Malaysia

GIC Has 4.1% Annualized Return, Warns of Lower Asset Gains  By Klaus Wille and Joyce Koh  Aug 2, 2014 10:23 AM GMT+0800; "GIC Pte, manager of more than $100 billion of Singapore’s reserves, posted an annualized return of 4.1 percent and warned that the current high prices in financial markets signal a challenging outlook.... GIC’s 20-year annualized real rate of return, or increases on top of global inflation it uses as its main metric, as of March 31 compared with 4 percent the previous year, the fund said in the annual report published today. The sovereign fund declined to elaborate on specific holdings.... The MSCI World Index, which tracks stocks in 23 developed countries, gained 17 percent during the period, the most in four years, as central banks worldwide kept interest rates low to fuel growth. Citigroup Inc. (C), of which GIC owns 3.7 percent according to data compiled by Bloomberg, gained 7.6 percent in the period. Switzerland’s biggest bank, UBS AG (UBSN), in which GIC is the biggest owner with 6.4 percent, rallied 26 percent.... GIC is more “positive” on emerging-market assets going forward, Lim said, citing valuations and progress in reforms in countries including China, India, Indonesia and Mexico...."

Temasek’s Portfolio Gains Include $4 Billion From Government By Klaus Wille  Jul 10, 2014 3:02 PM GMT+0800; "Temasek Holdings Pte’s performance was helped by a S$5 billion ($4 billion) capital injection from Singapore’s Ministry of Finance, according to the state-owned investment firm’s annual report.... Temasek’s portfolio rose by S$8 billion to S$223 billion as of March 31, the company said in its review on July 8. The gain included the funds from the ministry, its only shareholder, “as part of their asset allocation decision,” it said.... The total shareholder return of Temasek, which includes dividends and capital gains and excludes capital injections, shrunk to 1.5 percent for the past year from 8.9 percent in its previous fiscal year, as holdings in Asia remained little changed. The funds from the ministry boosted its portfolio gain to 3.7 percent, according to data in the annual report..... The additional capital came from government funds, including proceeds from tradable Singapore Government Securities, any government surpluses as well as proceeds from land sales, the ministry said in an e-mailed statement.... Singapore’s government had injected S$10 billion in cash in 2007, the largest since Temasek’s inception in 1974, the ministry said in August 2008.

Singapore Set to Get LNG Cargo From Indonesia for Third Tank By Chou Hui Hong  Jul 28, 2014 7:46 AM GMT+0800; "Singapore LNG Corp., which operates the Asian city-state’s first receiving terminal, is set to get a liquefied natural gas cargo for its third tank delivered today by the vessel Wilpride.... “We confirm that the Singapore LNG Terminal will be receiving a cargo of LNG that is not intended for import into Singapore,” SLNG’s spokesman Simon Ang said in an e-mailed statement yesterday. Ang declined to give further details of the cargo, citing reasons of commercial confidentiality.... SLNG’s Jurong Island facility in western Singapore has three tanks that can handle 6 million metric tons a year. A fourth will be added by 2017, increasing capacity to 9 million tons. The company may make the third tank available for traders to carry out short-term transactions, SLNG’s chief executive John Ng said in an interview at his office March 20.... Temasek Holdings, Singapore’s state-owned investment company, set up Pavilion Energy in April last year. Pavilion Gas concluded its first spot LNG deal earlier this year...."

Cut-Price Luxury Homes Fuel Singapore Tri-Nation Sprawl   Jun 9, 2014 9:20 AM GMT+0800; "Darren Chin gave up a 15-minute train journey to his office in Singapore for a two-hour drive with a stop at passport control. The reason: By commuting from Malaysia, he can afford his own two-story home and car. “It’s worth it,” said the Malaysian financial adviser, who leaves his house before 6:45 a.m. to get to his job at Oversea-Chinese Banking Corp. (OCBC) on time. “I’m saving on rent and I’m paying for my own house.”... Chin is part of the expansion of Southeast Asia’s richest city across its borders as residents and companies seek property, labor and amenities, often at half the cost or less. The result is a three-nation urban complex with a population bigger than London and an economy that would rank as one of the fastest-growing in the region...."