KUALA LUMPUR — July 6, 2018: Khazanah Nasional is seeking clarification from the government and other relevant parties in respect of its mandate and investments.
“This is with a view towards clarifying, reaffirming and implementing our mandate as the strategic investment fund of the government of Malaysia.
“Towards this end, we will provide further updates in due course as appropriate,” the country’s sovereign wealth fund said in a statement today in response to various news reports and queries.
Earlier today, Prime Minister Tun Dr. Mahathir Mohamad said Khazanah should go back to one of its core purpose of helping Bumiputeras.
In this regard, he said the fund was initially formed to buy shares allocated to Bumiputeras who would normally buy shares and sell them to others immediately.
“So to stop them from doing that, we created Khazanah. But now Khazanah seems to be taking up all shares on their own, whether it was meant for Bumiputeras or not.
“So, maybe they should go back to their original purpose,” Mahathir said after Pakatan Harapan’s presidential council meeting in Putrajaya.
Incorporated on September 3, 1993, Khazanah was mandated to manage commercial assets owned by the federal government as well as design strategic investments that would contribute to nation building.
In 2004, the company undertook an expanded and more active investment approach which included enhancing the performance of its existing core holdings while seeking opportunities in new economic sectors and geographies. — Bernama