'Our performance was affected by several key global and domestic developments,' says MD.
Sovereign wealth fund Khazanah Nasional Bhd unveiled a new investment strategy today that classifies its portfolio into a commercial and a strategic fund, even as it reported weak results for last year.
The rejig comes as Prime Minister Dr Mahathir Mohamad urgently needs to raise money for government coffers, depleted by a fiscal deficit and a massive debt from a multi-billion-dollar scandal at state investment fund 1MDB. "Our performance in 2018 was affected by several key global and domestic developments," Khazanah managing director Shahril Ridza Ridzuan , who took charge in August, told reporters at a news conference.
"At the same time, the government initiated a reset of Khazanah, which involved significant changes including a refreshed mandate," he said. Khazanah said the realisable asset value of its portfolio value fell to RM136 billion in 2018 from RM157 billion in the previous year.For almost 20 years, Malaysiakini has stayed true to the cause of providing the Malaysian public with the truth. We believe that with unadulterated information, the people will obtain power to make informed decisions.Keep the truth alive. Support your robust, independent media. You have the unrestrained power to do so.
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