(EnergyAsia, December 26, Friday) — Malaysia’s federal government has agreed to let oil-rich Terengganu state establish its own sovereign wealth fund to manage its investments. The Terengganu Investment Authority (ITA) will be launched with an initial investment fund of RM10 billion backed by the state’s oil royalties. (US$1 = RM3.47). While details have yet to…
MALAYSIA: Terengganu state government to set up sovereign investment fund
Posted on December 25, 2008 by EnergyAsia