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Khazanah Nasional - Wikipedia

        Khazanah Nasional Berhad is the sovereign wealth fund of the Government of Malaysia.
        Khazanah holds and manages selected commercial assets of the Government and undertakes strategic investments on behalf of the nation. It is involved in sectors such as power, telecommunications, finance, healthcare, aviation, infrastructure, leisure and tourism, and property, amongst others.
        Khazanah is a member of the International Forum of Sovereign Wealth Funds,^[1] which maintains and promotes the Santiago Principles on best practices in managing sovereign wealth funds. It is also a signatory of the United Nations-supported Principles for Responsible Investment (UNPRI), signatory of the Malaysian Code for Institutional Investors and a member of the Institutional Investor Council Malaysia (IIC), member of FCLTGlobal (Focusing Capital on the Long Term), and signatory of the Malaysian Anti-Corruption Commission’s (MACC) Corporate Integrity Pledge.
         Its portfolio includes Axiata, CIMB, Tenaga Nasional, IHH Healthcare, UEM Group, Telekom Malaysia, Malaysia Airlines, and Malaysia Airports.
Khazanah was incorporated under the Companies Act, 1965 in Malaysia on 3 September 1993 as a public limited company and commenced operations a year later. Khazanah is owned by the Malaysian government and administered by the Minister of Finance Incorporated, except for one share held by the Federal Land Commissioner.
        Khazanah is governed by a Board of Directors comprising representatives from the Government and the corporate sector with diverse professional backgrounds and expertise.
        In 2017, Khazanah registered a proforma profit before tax (PBT) of RM2.89 billion, a 85% increase over the previous year.^[2] Its portfolio increased 8.2% to RM157.2 billion in terms of its realisable asset value (RAV), and rose 13.2% to RM115.6 billion in terms of net worth adjusted (NWA). Khazanah also made 14 investments totalling RM6.3 billion and 12 divestments with proceeds amounting to RM6.4 billion, with a gain on divestments of RM2.5 billion for the year. Khazanah Nasional has regional offices in Shanghai, Mumbai, Istanbul, San Francisco and London to support its investment activities overseas. ^[3]

History[edit]

Incorporation
        Khazanah was incorporated under the Companies Act 1965 on 3 September 1993 as a public limited company and commenced operations a year later. Except for one share owned by the Federal Land Commissioner, all the share capital of Khazanah is owned by the Minister of Finance Incorporated, a body incorporated pursuant to the Minister of Finance (Incorporation) Act 1957.
The New Mandate
        In 2004, Khazanah went through a strategic revamp and was given its current mandate. Tan Sri Datuk Wira Azman Hj Mokhtar, the former Managing Director of Khazanah, was appointed to the position in that year. In 2018, Datuk Shahril Ridza
Ridzuan was appointed Managing Director.^[4]
        Khazanah strives to create sustainable value and cultivate a high-performance culture that helps contribute to Malaysia's economic competitiveness. By taking a proactive investment approach, it aims to build true value through management of its core investments, leveraging on its global footprints for new growth, as well as undertaking catalytic investments that strategically boost the country's economy. It also actively develops human, social and knowledge capital for the country.

Leadership and Governance[edit]

Board of Directors      

        Khazanah is governed by its board of directors, which is led by Tun Dr. Mahathir Mohamad, the Prime Minister of Malaysia, as Chairman of the Board. The Board members comprise representatives from the Government as well as the corporate sector with diverse professional backgrounds and expertise. The Managing Director reports to the Board. 

 

My comments:

To me, Khazanah Nasional Bhd is a public-funded private company which has been heavily abused by the devils all to their full advantages.  In the name of Nasional Bhd, this public funded company is widely abused by the PM-crowned chairman and his cronies to the fullest.  It has made Dr Mahathir and his family, mega-rich through different means and excuses to amass the wealth.  To what extent, it was abused by Najib, i shall find out, too.  This public-funded private company which is linked to many other companies, monopolises many businesses of the country.  The operation of the company is no different from the private funded private company at all.