Former Malaysia PM Najib Razak resigns as Khazanah chairman

The Khazanah Nasional office.

Malaysia’s sovereign wealth fund Khazanah Nasional Bhd on Thursday announced changes to its board of directors, including the departure of its chairman, former prime minister and finance minister Najib Razak.

Former finance minister II Johari Abdul Ghani and former treasury secretary-general Irwan Serigar Abdullah have also relinquished their posts as Khazanah’s board members, effective May 30 and 23, 2018, respectively.

Khazanah has been embroiled into the 1Malaysia Development Bhd (1MDB) financial scandal, where Najib was said to have cashed out RM1.2 billion ($301.05 million) last year through redeemable shares in the wealth fund held by the finance ministry to pay off debts.

The announcement of Najib’s resignation comes after current finance minister Lim Guan Eng said that Najib and his political appointees should be removed from Khazanah’s board of directors.

Irwan Serigar is no longer a board member of Malaysia’s pilgrim fund Tabung Haji and Malaysia’s central bank Bank Negara Malaysia.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.