Displaying items by tag: Norges Bank

Malaysia: Norway-based Norges Bank has bought a 5% stake in Cahya Mata Sarawak, Bernama Daily Malaysian News has reported.

The bank said “Norges Bank's mission is to promote economic stability and manage substantial assets on behalf of the Norwegian people.” It added “As part of its investment strategy for the Government Pension Fund Global, Norges Bank seeks to optimise returns within the framework of its investment mandate.”

Indonesia: Norway-based Norges Bank has placed Semen Tonasa under observation for risk of damage to art in Leang Leang Maros Prehistoric Park in South Sulawesi. Reuters has reported that the cement producer has no monitoring system in place for its limestone mining operations near to the designated UNESCO Global Geopark. Vibrations and dust reportedly present a danger to the 44,000yr-old works of art at the site. Norges Bank holds a 1.6% stake in Semen Tonasa's parent company Semen Indonesia.

Norges Bank said "The background for the decision is the unacceptable risk of damage to prehistoric and irreplaceable culture heritage."