He says the sovereign wealth fund must also have an action plan to reduce future losses.
Prime Minister Dr Mahathir Mohamad suggests that Khazanah divest its stake in some GLCs.
The prime minister said the sovereign wealth fund should also have a comprehensive plan and an action plan to revive its position so as not to continue to suffer losses. “This is not an easy thing to do. However, I am confident that they have plans to address the problems faced by their low-performing companies.
Khazanah posted a pre-tax loss of RM6.3 billion for 2018, compared with its pre-tax profit of RM2.9 billion in the preceding year, after recording impairments totalling RM7.3 billion — more than triple the RM2.3 billion seen in 2017.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Khazanah owes lawmakers, people an explanation: MahathirMANILA: Khazanah Nasional Bhd (Khazanah) owes the lawmakers and people an explanation about its first pre-tax loss in 13 years in 2018, Tun Dr Mahathi...
Read more »
Khazanah owes Malaysians an explanation, says Dr Mahathir | The Malaysian InsightPM confident sovereign wealth fund has plans to tackle problems linked to its RM6 billion losses.
Read more »
Khazanah owes everyone an explanation, says Dr Mahathir | Malay MailMANILA, March 8 — Khazanah Nasional Bhd (Khazanah) owes the lawmakers and people an explanation about its first pre-tax loss in 13 years in 2018, Tun Dr Mahathir Mohamad said. The prime minister said the sovereign wealth fund should also have a comprehensive plan and an action plan to revive its...
Read more »
Khazanah says yet to receive offer for Legoland | Malay MailKUALA LUMPUR, March 5 — Khazanah Nasional Bhd has yet to receive any offer from potential suitors to acquire its stake in Legoland Malaysia, a theme park it owns in Johor. Managing director Datuk Shahril Ridza Ridzuan said as of today the sovereign wealth fund was not in talks with any party....
Read more »
No talks to sell Legoland, says Khazanah | The Malaysian InsightTheme park remains profitable, says managing director Shahril Ridza Ridzuan.
Read more »
Khazanah mulls selling stake in Legoland theme park, says report | The Malaysian InsightThis would be in line with its plan to cut back on investments in non-strategic assets, reports Bloomberg.\n\u00a0
Read more »
Khazanah’s losses due to previous govt, says Azmin | The Malaysian InsightEconomic affairs minister respond to Khairy Jamaluddin's dig over Khazanah’s RM6 billion loss.
Read more »