Malaysian sovereign wealth fund Khazanah Nasional pledged on Wednesday to boost its international presence, including in China, as part of a strategy that in 2015 helped it post a small rise in asset value even as the domestic economy stumbled.
The fund is open to opportunities in China, Khazanah's managing director Azman Mokhtar said at a press conference after it disclosed a 3.2 percent rise in its portfolio value to 150.2 billion ringgit ($34.29 billion) last year.
"China is moving into a different phase of economic development. When such a giant economy moves, there will be dislocations but there will also be opportunities," Azman said.
"Yes, we will consider increasing investments in China in the right sectors. But also divesting some investments in other sectors when it is time."
The state fund has recently increased investment activity abroad and owns stakes in several global firms including China's e-commerce giant Alibaba Group Holding Ltd.
Khazanah's return on investment last year was largely driven by its foreign holdings. While its total returns averaged 10.7 percent, the return on foreign investments alone was about 18 percent.
Its major asset IHH Healthcare Berhad acquired stakes in Continental Hospitals and Global Hospitals, both in India. And national utility firm Tenaga Nasional, another top asset, took stakes in Jimah East Power and Turkish power company Gama Enerji AS.
CHALLENGES AHEAD
In 2014, Khazanah's assets grew 7.7 percent.
Azman said in 2015 Khazanah made 23 investments totalling 8.7 billion ringgit and 10 divestments worth 5.3 billion ringgit.
Lower oil and commodity prices have hurt Southeast Asia's third-largest economy, along with a weak ringgit, Asia's worst performing currency last year.
Earlier this week, Moody's cut Malaysia's sovereign rating outlook to stable from positive, flagging risks from the economy's deteriorating growth profile as global trade and market conditions worsen.
More than 80 percent of the fund's investment universe is Malaysian companies, posing challenges to its growth.
"The volatile and uncertain conditions...we expect it to continue in 2016," said Azman.
He said Khazanah has injected 1 billion ringgit into an equity investment firm ValueCap, set up last year to shore up Malaysia's stock market.
Khazanah took Malaysia Airlines private in 2014 as part of a 6 billion Malaysian ringgit plan aimed at returning it to profit within three years.
Azman said it was too early to say when the airline would return to profitability, adding a rebranding was not on the cards.
"The recovery plan is on track. But rebranding is not a priority at the moment," he said.
Reuters
Wed Jan 13 2016
Khazanah's return on investment last year was largely driven by its foreign holdings. While its total returns averaged 10.7 percent, the return on foreign investments alone was about 18 percent. - File photo
10 Berita Pilihan - (17 September 2024)
Antara pelbagai berita dalam dan luar negara yang disiarkan di Astro AWANI, berikut adalah yang paling menjadi tumpuan sepanjang hari ini.
AWANI Ringkas: PN tolak draf MoU kerana ada niat tersirat - Muhyiddin
Ikuti rangkuman berita utama yang menjadi tumpuan sepanjang hari di Astro AWANI menerusi AWANI Ringkas.
Ahmad Zahid gesa pemain industri TVET sokong ekosistem industri halal
Ahmad Zahid berkata kewujudan lebih ramai bakat dan pakar dalam sektor halal akan mengukuhkan lagi peranan Malaysia sebagai peneraju global dalam industri.
#AWANIRingkas 17 September 2024 | 9 PM
Berikut merupakan rangkuman berita setakat 9 malam, 17 September 2024
1️⃣ PN tolak draf MoU kerana ada niat tersirat - Muhyiddin
2️⃣ Banjir: cuti anggota, pegawai bomba Kedah dibekukan
3️⃣ 'Abang bas' bebas selepas bayar ikat jamin RM40,000
#awaniringkas
1️⃣ PN tolak draf MoU kerana ada niat tersirat - Muhyiddin
2️⃣ Banjir: cuti anggota, pegawai bomba Kedah dibekukan
3️⃣ 'Abang bas' bebas selepas bayar ikat jamin RM40,000
#awaniringkas
Peruntukan pembangkang, pembangunan kawasan parlimen wajar diperundangkan - Pakar
Mantan Ahli Tetap Jawatankuasa Reformasi Pilihan Raya (ERC), Dr. G Manimaran berkata peruntukan kepada pembangkang dan dana pembangunan kawasan parlimen wajar untuk diperundangkan berbanding dibuat secara Perjanjian Persefahaman (MoU) semata-mata. Pada masa yang sama, beliau berpendapat sikap pembangkang terhadap MoU yang ditawarkan Kerajaan Perpaduan ketika ini bersifat politik semata-mata. #AgendaAWANI
MoU peruntukan pembangkang berat sebelah, sepatutnya digubal undang-undang khusus - Pakar
Timbalan Ketua (Strategi) Ibu Pejabat Asia UNSDSN, Universiti Sunway, Prof. Wong Chin Huat berkata Perjanjian Persefahaman (MoU) peruntukan pembangkang yang ada ketika ini disifatkan berat sebelah memandangkan hanya menyentuh mengenai pengisytiharan harta oleh pembangkang sahaja. Jelasnya, hal tersebut sepatutnya dilakukan secara saksama oleh semua ahli parlimen dan dilakukan berdasarkan satu Akta khusus berbanding sekadar dalam bentuk MoU. #AgendaAWANI
Negara luar minat labur di Malaysia mahu pengiktirafan JAKIM
Bagi menjayakan usaha ini, beliau telah membuat rancangan dengan kerajaan negeri untuk menyediakan tanah yang akan dibeli atau disewa bagi membolehkan kilang berkenaan didirikan.
Ribut tropika Pulasan mungkin hampiri barat daya Jepun - Agensi cuaca
Menurut agensi cuaca Jepun pada Selasa, ribut tropika besar yang semakin kuat mungkin menghampiri wilayah Okinawa dan kawasan Amami di wilayah Kagoshima di barat daya Jepun pada Rabu.
MP PN tolak draf MoU kerana ada niat tersirat - Muhyiddin
Tan Sri Muhyiddin Yassin mendakwa MoU itu antaranya mengandungi satu bab khusus mengenai isu bangsa, agama dan Raja-Raja, di mana Ahli-ahli Parlimen PN dilarang untuk bersuara mengenainya kerana menyentuh isu itu dianggap sebagai menyebarkan kebencian.
24 mangsa, tiga kanak-kanak diselamatkan
Bomba menyelamatkan 24 mangsa termasuk tiga kanak-kanak yang terperangkap akibat di Kampung Kubang Kayu, Bukit Kayu Hitam.
Festival beli-belah 'Singles Day' diadakan lebih awal tahun ini
Alibaba juga dilaporkan turut memperkenalkan lebih dua juta produk baharu iaitu dua kali ganda daripada jumlah tahun sebelumnya.