‘New MD meets Khazanah’s criteria’
KUALA LUMPUR: The appointment of Datuk Shahril Ridza Ridzuan as Khazanah Nasional Bhd’s new managing director (MD) is a natural choice, said economists.
This was due to his ability in managing large public fund under the Employees Provident Fund (EPF).
“(Shahril Ridza) is a natural choice as he is able, honest and transparent, based on his time managing the pension fund.
“In this case, he meets the criteria that Khazanah needs to bring the sovereign wealth fund forward.
“He has a clean record, as far as I am aware.
“But, no matter how good he is, he must remember to always practise discretion in managing public fund,” economist and Asli Centre of Public Policy Studies chairman Tan Sri Dr Ramon Navaratnam told the New Straits Times Press yesterday.
He said as Khazanah had been clouded by controversies lately, Shahril Ridza would find it challenging to win back public trust for the sovereign wealth fund.
“Trust and good track record are essential for Khazanah to progress in the future.”
Khazanah yesterday announced the appointment of Shahril Ridza, 48, as its new MD, following the resignation of Tan Sri Azman Azman.
Shahril Ridza, who is the chief executive officer of EPF, will report for duty on Aug 20.
Putra Business School analyst and senior lecturer Dr Ahmed Razman Abdul Latiff said the appointment was fitting as Shahril Ridza had a strong track record.
He said some of his key achievements during his time in EPF included the 6.9 per cent dividend distribution announced last year, the highest in two decades.
“His experience in investment is significant, considering him being on board several listed companies on Bursa Malaysia.”
During Shahril Ridza’s tenure as the pension fund CEO, EPF’s gross investment income had grown by RM22.12 billion to RM53.14 billion in December last year from RM31.02 billion in December 2012.
In the first quarter of the year, EPF reported an increase in quarterly total investment income to RM12.88 billion, a yearon-year increase of 9.2 per cent from RM11.79 billion recorded during the same period last year.
This is despite developed markets experiencing a decline in the first quarter, following higherthan-anticipated inflation in the United States, and was driven by domestic and Asean markets, which recorded positive growth.