Malaysia’s Khazanah says divestments part of ordinary course of business

Malaysia’s Khazanah says divestments part of ordinary course of business

The Khazanah Nasional Berhad logo is displayed on a laptop. Photo: Ipsita Ray/DEALSTREETASIA

Malaysia’s sovereign wealth fund Khazanah Nasional Bhd has said that an ongoing asset divestment exercise is part of its ordinary course of business of realising investments and redeploying capital into new investments.

Refuting allegations that Khazanah was selling off national assets and accumulating debt, the wealth fund’s managing director Shahril Ridza Ridzuan told news agency Bernama that its core focus was to deliver its strategic priorities in the near term. The decision to sell or hold assets were based on purely commercial reasons, he said.

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