Friday, 25 November 2011

Singapore Buys CMMT

On 11-11-11, Government of Singapore Investment Corporation (GIC) which is chaired by Singapore's prime minister, has acquired 99,248,100 (5.64%) of CMMT's shares through private placement. This is the first time GIC holds CMMT's shares and becomes one of its substantial shareholder.

CMMT will issue 261,904,000 new shares at RM1.26 each as private placement to raise RM330 million for the acquisition of the East Coast Mall. The acquisition is said to be completed by the end of this year.

Some information regarding GIC:

GIC is one of the largest investment management organizations in the world, with over 1000 people, investing well over US$100 billion in multiple asset classes in more than 40 countries. 

We have almost 30 years of experience in publicly traded investments in more than 45 exchange traded and over–the-counter markets dealing with stocks, futures and options, fixed income, natural resources, foreign exchange, cash and derivatives.

GIC's real estate portfolio is one of the few that is truly global. We are ranked among the world's top 10 real estate investment firms in terms of assets under management.

Our private equity portfolio has placed us as one of the leading global private equity investors in the world with a network of over 100 active fund managers that are among the best in the world.

In keeping with our prudent approach to investing with a long-term horizon, we make identifying and managing risk a clear and integral part of management responsibility at all levels. We have established a framework that sets the accountability and responsibility for risk-taking to ensure we maximise our client's returns.

Our investment strategy is one of integrated diversity. There are new and unique investment opportunities which call for GIC to operate as one integrated organization while at the same time fully exploiting the range of asset class expertise and experience in-house for best investment results. We respond quickly to investment opportunities around the world with our specialists who are on the ground at our various offices, getting a good pulse of the markets.

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