GIC Singapore

Singapore employment suffers deepest quarterly contraction in June, Malaysian ex-PM Najib sentenced to 12 years in prison, and more.

GIC posts a lower 20-year annualised real rate of return of 2.7% for the year ended March 31 2020, down from 3.4% in the previous financial year.

The investors, including Brookfield Asset Management Inc. and Singapore’s sovereign wealth fund, will buy a 49% holding in a new subsidiary for the pipelines from Abu Dhabi National Oil Co.

(June 3): Singaporean sovereign-wealth fund GIC Pte is in talks to acquire a stake in StorageMart, which describes itself as the largest privately owned storage company in the world, according to people with knowledge of the matter.

Carlyle Group Inc. and Singapore sovereign-wealth fund GIC Pte. are using fake excuses to renege on buying a 20% stake in American Express Global Business Travel, according to an unsealed lawsuit.

“Post the introduction of the new investors, we will be the best capitalized local bank in Myanmar,” Yoma Bank Chief Executive Officer Dean Cleland said.

SINGAPORE (Dec 13): GIC, Singapore’s sovereign wealth fund, said it had signed a deal to buy a logistics real estate portfolio from funds managed by private-equity firm Apollo Global Management’s affiliates for about 950 million euros ($1.4 billion).