Sunday, August 12, 2018
Can We Have Updates On Turkish Investments Please
Turkey is resembling Thailand back in 1998, only much worse. Have a look at the Turkey lira against USD. I took a 5-year chart because Malaysia has invested in a few big assets there.
Khazanah has some exposure there, and wanted to sell their holdings back in February 2018. What's the update? Did Khazanah hedge their investments? How did the demise of the Turkish lira affect the investments over the past 5 years?
Malaysia Airports was part of a consortium that won a 1.9 billion euro contract to operate the airport in 2007. In 2013, it agreed to raise its holding in ISG to 60% by acquiring a 40% stake held by Indian partner GMR Infrastructure Ltd for 225 million euros.It bought the remaining 40% from Turkey’s Limak Holding in 2014 for 285 million euros.
What was the holding cost? What were the losses or profits suffered thus far? Were there any efforts to hedge the position over the past 5 years? How did the demise of the Turkish lira affect the investments over the past 5 years?
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