Focus on sustainability

Khazanah to continue investments in green urban projects

PENANG: Khazanah Nasional Bhd, the Government’s investment arm, will continue to invest in green and sustainable initiatives to support Malaysia’s agenda enshrined in the 10th Malaysia Plan and Economic Transformation Programme, managing director Tan Sri Azman Mokhtar said.

Asked whether new investments have been identified, he said, Khazanah was working on some projects (local and foreign) and would make the announcement at the right time.

“We’ve made strategic investments in the realm of sustainable development. For instance, Khazanah owns 80% stake in KCS Green Energy, about 40% in Camco South East Asia (Camco SEA) and23.6% in cam co-international

We’ve made investments in the realm of sustainable development. Khazanah owns stakes in KCS Green Energy and Camco. — AZMAN

Ltd,” he told reporters after opening the Penang Symposium entitled Greening Urban Growth.

In KCS Green Energy, Azman said Khazanah was committed to invest up to Us $150mil in 10 waste-toenergy projects in China for over three to five years.

Camco SEA’S first advisory project in the region was to conduct a sustainability scoping study for Teluk Datai in Langkawi, he said.

He said sustainable development was an important agenda for Malaysia and emerging markets to ensure sustainable green urban growth due to rapid urbanisation.

“It is estimated that by 2020, some 70% of Malaysians will be city-dwellers,” he said.

On whether Khazanah would consider injecting fresh funds into its special purpose vehicle, Think City Sdn Bhd, Azman said there was a need to review as it was a publicprivate partnership initiative.

“We (Khazanah) are putting in the implementation mechanism and any new funds will have to be discussed with the federal government,” he said.

With a Rm20mil fund size, Think City’s role is to disburse the funds under the George Town Grants Programme to rejuvenate George Town’s heritage enclaves in Penang.

To date, it has disbursed Rm11mil for over 100 projects.

The Grants Programme is a federal government’s move to provide seed-funding for rejuvenation projects within the World Heritage Site.

The grants, to be disbursed over a two-year period, will support a series of small-scale initiatives that will create spinoffs to attract new investors. — Bernama