BIG DIP IN INVESTMENT VALUE SEEN

7 companies in which sovereign fund is major shareholder lost combined RM43.6b in market cap last year, data shows

KHAZANAH Nasional Bhd, which is due to release its annual performanc e review next month, will likely report a significant drop in the value of its investments in companies listed on Bursa Malaysia, in line with the weaker stock market performance last year.

Bursa Malaysia’s benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) registered a 5.17 per cent drop last year, losing RM192.85 billion in market capitalisation in the process.

Other markets in the region fared worse, including Japan (-12.08 per cent), South Korea (-17.69 per cent) and Hong Kong (-15.30 per cent). In the United States, the Dow Jones fell 5.6 per cent, S&P 500 was down 6.2 per cent and the Nasdaq slipped four per cent.

Against such a backdrop, seven listed companies on Bursa Malaysia in which Khazanah is a major shareholder lost a combined RM43.62 billion in market capitalisation last year, according to stock market data.

The seven companies are Axiata Group Bhd, Telekom Malaysia Bhd, CIMB Group Holdings Bhd, UEM Sunrise Bhd,