NSTbusiness: The national investment fund posted profit from operations of RM7.36 billion, compared to a loss from operations of RM6.27 billion in 2018. Khazanah
This was contributed by higher divestment gains and lower impairments, and robust portfolio returns, Khazanah said in a statement today.
The national investment fund posted profit from operations of RM7.36 billion, compared to a loss from operations of RM6.27 billion in 2018. Gains on divestments increased to RM9.9 billion from RM1.4 billion previously, while impairments were at RM4.9 billion from RM7.3 billion the previous year. Khazanah declared a dividend of RM1.0 billion for 2019.Khazanah’s expenses reduced by 28.2 per cent to RM484 million, compared to RM674 million in 2018.“Our 2019 performance was achieved against a backdrop of uncertainties in the global landscape, which saw a prolonged Brexit process as well as the heightening of the US-China trade war,” Khazanah managing director Datuk Shahril Ridza Ridzuan said.
”This was made more challenging by the continued low returns environment and generally slower economic growth. Despite these challenges, we managed to achieve significant progress in delivering on our mandate to grow Malaysia’s long-term wealth,” he added.
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