Norges Bank, the central bank and sovereign wealth fund manager of Norway has officially become a substantial shareholder of Cahya Mata Sarawak Berhad upon its acquisition of 54,051,439 shares which represents a 5.03% stake.
According to its website, Norges Bank investments have a value of 15,299 billion kroner equivalent to USD$1,428 billion as at 30 June 2023 and it presently stands as the largest single owner in the world’s stock markets. In total, 71.3% of its investments were in equities, 26.4% in fixed income, 2.3% in unlisted real estate, and 0.1% in unlisted renewable energy infrastructure across assets and its investments exposure span across most markets, countries, and currencies worldwide.
Norges Bank’s mission is to promote economic stability and manage substantial assets on behalf of the Norwegian people. As part of its investment strategy for the Government Pension Fund Global, it seeks to optimise returns within the framework of its investment mandate.
Cahya Mata Sarawak Berhad has diversified business interests that include cement, phosphates manufacturing, oiltools, road maintenance, property development, financial services, telco-infrastructure, and recently in the circular economy arena with the acquisition of Cahya Mata Alam, a research and development centre as well as a manufacturing plant of eco-composite materials.
