(MENAFN) GIC Pte, Singapore”s sovereign wealth fund, has announced its plan in buying stakes in Brazilian companies as Singapore shows confidence in the world”s second-largest emerging market, according to Iran Daily.

GIC has purchased 5.02 percent of communications technology provider Linx SA.

GIC also plans to increase its stake in Sao Paulo-based food processor BRF SA in the current month, and to invest in water and sewage treatment company Aegea Saneamento e Participacoes next October.