KUCHING: Norges Bank, the central bank and sovereign wealth fund manager of Norway, has officially acquired a substantial stake in Cahya Mata Sarawak Berhad (Cahya Mata).
According to a Substantial Shareholder Notice of Interest dated Thursday (Sept 14), Norges Bank now holds 54,051,439 shares in Cahya Mata, representing a noteworthy 5.03 percent ownership in the company.
Cahya Mata in a statement said Norges Bank’s investments are nothing short of remarkable, with a total value of 15,299 billion kroner, equivalent to a staggering USD$1,428 billion as of June 30, 2023.
This financial behemoth, the conglomerate noted, stands as the largest single owner in global stock markets.
“In total, 71.3 percent of its investments were in equities, 26.4 per cent in fixed income, 2.3 per cent in unlisted real estate, and 0.1 per cent in unlisted renewable energy infrastructure across assets, and its investment exposure spans across most markets, countries, and currencies worldwide,” said Cahya Mata.
It stated that the core mission of Norges Bank is to promote economic stability and efficiently manage substantial assets on behalf of the Norwegian people.
This mission is inextricably linked to their investment strategy for the Government Pension Fund Global (GPFG), where Norges Bank aims to optimise returns while operating within the parameters of its investment mandate.
“Norges Bank’s responsibilities in managing the GPFG are regulated by means of regulations issued pursuant to the Act relating to the Government Pension Fund Global and a separate management agreement with the Ministry of Finance.
“These regulations guide the bank’s investment decisions and ensure that they are made in accordance with the best interests of the Norwegian people,” the statement added.
On the other side of this partnership, Cahya Mata Sarawak Berhad is a well-established conglomerate headquartered in Sarawak.
Their business interests span a wide spectrum, encompassing sectors such as cement production, phosphate manufacturing, oil tools, road maintenance, property development, financial services, and telco infrastructure.
Notably, they have ventured into the emerging circular economy arena with the acquisition of Cahya Mata Alam, a research and development centre, and a manufacturing plant specialising in eco-composite materials.
