Mubadala Meets Malaysia

Ashby Monk

Mubadala looks set to sign up to another joint fund with Malaysia, according to Abdul Muin Abdul Majid. Mubadala will contribute $1 billion to the new joint venture, which will invest in the energy, real estate and hospitality sectors.

Significantly, the deal will see the Terengganu Investment Authority (TIA) restructured into a SWF wholly-owned by the Malaysian Ministry of Finance, reporting directly to the Prime Minister. Indeed, TIA will become a federal SWF and be renamed 1Malaysia Development Berhad (1MDB). According to the Prime Minister’s office,

“1MDB would drive sustainable, long-term economic development for Malaysia by forging strategic global partnerships and promoting foreign direct investment for Malaysia to further enhance the multiplier effects for the Malaysian economy.”

Mubadala is having a good month, having already ironed out a similar joint fund with France. Additionally, it topped the SWF Institute’s Transparency Index.

2 Responses to “Mubadala Meets Malaysia”

  1. 1 Frankie Toh February 2, 2010 at 5:29 am

    I would like to get in touch with the right contact person in 1MDB to explore other similar carbon neutral city plans in Saudi Arabia.

  1. 1 Deutsche Bank SWF update « Oxford SWF Project Trackback on July 23, 2009 at 2:23 pm

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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