Despite the lacklustre market conditions of 2019, Khazanah Nasional Bhd recorded its highest profits ever of RM7.36bil compared to losses of RM6.27bil in 2018.
The fund’s hardwork had seen fruition as it managed to reduce its expenses by 28% year-on-year, and its debt by 17%. The sovereign wealth fund declared RM1bil in dividends to the government for 2019. This was thanks to big gains from its disposal of some overseas assets including its shares in e-commerce giant Alibaba Group Holdings Ltd.
Khazanah, whose asset values now stand at RM83bil, had been created to grow the nation’s long term wealth.
It is invested in the country’s critical sectors, through major holdings in companies like Axiata Group Bhd
, IHH Healthcare Bhd and Malaysia Airlines.
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