World’s largest sovereign wealth fund raises ownership in BCorp, Genting Malaysia, PetChem; cuts Bursa, Top Glove, Serba Dinamik
KUALA LUMPUR (May 4): Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund with a market value of about 11.72 trillion Norwegian kroner (about RM5.66 trillion), had invested in 146 Bursa Malaysia-listed companies as at Dec 31, 2021, when the fund’s ownership in companies like Berjaya Corp Bhd (BCorp), Genting Malaysia Bhd and Petronas Chemicals Group Bhd (PetChem) had risen from a year earlier, according to the latest updates by the Norwegian central bank’s asset management unit.
Norges Bank Investment Management is the asset management unit of Norwegian central bank Norges Bank, which has been tasked to manage the Government Pension Fund Global, often referred to as Norway’s oil fund, the former said on its website.
Norges Bank Investment Management said the Government Pension Fund Global’s ownership in companies like Bursa Malaysia Bhd, Top Glove Corp Bhd and Serba Dinamik Holdings Bhd was, however, cut as at Dec 31, 2021 compared to a year earlier.
According to Norges Bank Investment Management, the fund’s ownership in BCorp had risen to 1% from 0.32% while its stake in Genting Malaysia was higher at 1.3% compared to 0.7%.
Meanwhile, the fund’s ownership in PetChem increased to 0.59% from 0.46%, according to Norges Bank Investment Management.
Norges Bank Investment Management said the fund’s ownership in Bursa was cut to 0.85% from 2.59%, while its stake in Top Glove was lower at 0.57% compared to 0.89%.
Meanwhile, the fund’s ownership in Serba Dinamik decreased to 0.04% from 0.07%, according to Norges Bank Investment Management.
Norges Bank Investment Management, which invests the Government Pension Fund Global’s money in around 9,000 companies across 70 countries, did not elaborate on the changes in its global investment figures.
"The fund is invested in international equity and fixed-income markets and in real estate and renewable energy infrastructure. The aim of the fund is to ensure responsible and long-term management of revenue from Norway’s oil and gas resources so that this wealth benefits both current and future generations of Norway.
"Our objective as manager of the fund is to generate the highest possible return on the fund. We aim to achieve this in a safe, efficient, responsible and transparent manner, and within government guidelines,” Norges Bank Investment Management said.
"As a long-term investor in around 9,000 companies in 70 countries, we have an interest in investors’ demands for profitability being aligned with society’s broader expectations of companies. We consider environmental and social issues, and publish clear expectations of the companies we invest in.
"The fund itself may also decide to divest from companies that impose substantial costs on other companies and society as a whole, and so are not considered long-term sustainable,” Norges Bank Investment Management added.
At Bursa on Friday (April 29), BCorp’s share price closed down 0.5 sen or 1.92% at 25.5 sen, Genting Malaysia rose seven sen or 2.35% to RM3.05 while PetChem ended up 12 sen or 1.19% at RM10.22.
Bursa’s share price closed up four sen or 0.58% at RM6.99 while Top Glove ended unchanged at RM1.68.
Serba Dinamik’s share trade, which has been suspended since Oct 22, 2021, will resume next Monday (May 9). Prior to the suspension, Serba Dinamik shares were last traded at 35 sen.
Malaysian markets, which were closed on Monday and Tuesday (May 2 and 3) for the Hari Raya Aidilfitri holidays, remain closed on Wednesday (May 4), which has been redesignated as the replacement holiday for Labour Day, which fell on Sunday (May 1).
Malaysia’s replacement holiday for Labour Day was initially on Monday (May 2).
The country changed the replacement holiday for Labour Day to Wednesday (May 4) following the nation’s announcement on Sunday (May 1) that Hari Raya Aidilfitri would fall on Monday (May 2).
Malaysian market trades will resume on Thursday (May 5).
http://www.theedgemarkets.com/article/worlds-largest-sovereign-wealth-fund-raises-ownership-bcorp-genting-malaysia-petchem-cuts
Singapore Investment
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3 Food Stocks That Will Whet Your Appetite13 hours ago
-
-
-
-
-
-
-
-
-
Week Ahead1 day ago
-
-
-
-
-
-
Starting Our Second Property Cycle2 days ago
-
-
-
-
-
Net Worth Update Mar 242 days ago
-
-
-
-
Position Update3 days ago
-
-
Finance Investment Movement 434 days ago
-
-
-
-
-
-
-
-
-
-
MAS Singapore Gold Vault5 days ago
-
-
-
-
-
-
-
Gaining And Holding6 days ago
-
-
-
-
-
-
-
-
-
-
-
-
Just sold at record high!1 week ago
-
-
-
-
-
-
-
-
-
Monthly IBKR Update – Feb 20242 weeks ago
-
More Bad News…2 weeks ago
-
-
-
Feb 2024 Portfolio2 weeks ago
-
Rethinking my financial targets for 20242 weeks ago
-
-
AEM share price in new dawn?2 weeks ago
-
-
-
-
-
Summary of February 20242 weeks ago
-
Portfolio (Feb 29, 2024)2 weeks ago
-
Portfolio -- Feb 20242 weeks ago
-
-
The Market Is A Scam!2 weeks ago
-
-
The Bus Collective Daycation Review2 weeks ago
-
-
-
-
-
-
-
-
-
-
-
-
Today’s Deal of the day – Max Miles4 weeks ago
-
-
Options Trading Journal Jan 20245 weeks ago
-
-
-
-
-
-
-
-
-
Personal Net Worth Jan 20242 months ago
-
-
-
End of 2023 Review2 months ago
-
-
Year 2023 DIYQuant Portfolio Performance Report2 months ago
-
Monthly Summary of November 20233 months ago
-
3 Simple Poker Strategies for Beginners3 months ago
-
Migration of website3 months ago
-
-
Abandon REITS?3 months ago
-
-
-
-
-
-
-
-
-
-
August 2023 Portfolio Updates6 months ago
-
-
-
-
Hello SP Group, I'm Back!8 months ago
-
-
-
-
I am in debt9 months ago
-
A New Light10 months ago
-
-
-
-
-
-
-
Demoralized1 year ago
-
2022 Thoughts, Hello 2023!1 year ago
-
Series of Defaults for Maple Finance1 year ago
-
Takeaways from “Sea Change”1 year ago
-
-
Greed is Coming Back1 year ago
-
-
-
-
-
-
-
-
-
-
-
What is Overemployment1 year ago
-
-
-
-
-
-
-
-
-
-
-
Home
BJCORP
BURSA
GENM
PCHEM
SERBADK
TOPGLOV
World’s largest sovereign wealth fund raises ownership in BCorp, Genting Malaysia, PetChem; cuts Bursa, Top Glove, Serba Dinamik