Khazanah plays catalyst role in economic development, says Sheriff
KUALA LUMPUR: Khazanah Nasional Bhd is not a Bumiputera entity but a national institution, said its former managing director Tan Sri Mohd Sheriff Mohd Kassim.
He said as a national institution, Khazanah played a critical role as a catalyst for economic development.
“Khazanah serves as the country’s sovereign wealth fund. In addition to its strategic investments, it also serves as a catalyst for the economy,” he told the Perdana Leadership Foundation CEO Forum, here, yesterday.
Meanwhile, Khazanah managing director Datuk Shahril Ridza Ridzuan said Khazanah and Retirement Fund Inc (KWAP) were government-linked investment companies (GLICs) as both institutions managed government funds.
The Employees Provident Fund (EPF) should not be categorised as a GLIC because it managed the savings of members.
He also said not all of Khazanah’s investment companies could be categorised as government-linked companies (GLCs).
“We do not categorise companies like IHH Healthcare Bhd, CIMB Group Holdings Bhd and Axiata Group Bhd as GLCs because they are in a market-driven environment and are open to competition.”
He said Khazanah’s strategic stakes of companies operating in regulated industries, such as Telekom Malaysia Bhd, Tenaga Nasional Bhd, PLUS Malaysia Bhd and Malaysia Airports Holdings Bhd, were a balancing act between national interests and returns on assets.
On Malaysia Airlines Bhd, Shahril said Khazanah had yet to receive a strategic plan from the national carrier.
“When we do, we hope to present the plan to the government before the end of this year,” he added.