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

New Straits Times - - BUSINESS - AYISY YUSOF [email protected]­di­

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,

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