Highlights

Malaysia's Khazanah aims for record US$1.2 bln profit after first loss in a decade

 Publish date: Tue, 8 Oct 2019, 1:37 PM

KUALA LUMPUR: Malaysia's sovereign wealth fund Khazanah Nasional Bhd said on Monday it is targeting a record pretax profit of least RM5 billion (US$1.2 billion) this year after posting its first loss in a decade in 2018.

"For this year, we hope to achieve profitability of at least RM5 billion," Shahril Ridza Ridzuan, Khazanah's managing director, said in brief comments to reporters at the fund's annual conference on Monday.

Shahril did not elaborate on the reasons for the stronger outlook.

Last year Khazanah swung to a pretax loss of RM6.3 billion from a profit of RM2.9 billion in 2017, hit by higher impairments and lower dividend income.

Shahril also said the fund was on track to achieve this year's target of cutting debt to RM47-RM48 billion from RM50 billion.

He added that over the 3-5 years, the fund is aiming to reduce debt to RM40 billion.

Khazanah is the majority shareholder of several government-linked companies including state utility Tenaga Nasional Bhd, banking group CIMB Group Holdings Bhd Malaysia Airports Holdings Bhd and Telekom Malaysia Bhd.

Khazanah said in March the realisable asset value of its portfolio fell to RM136 billion in 2018 from RM157 billion a year prior. -- Reuters

Share this

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
Stock Screener using Technical and Fundamental criteria
MQ Affiliate
Join the MQ Affiliate Program today to earn rewards
 
 

248  821  476  603 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 AT 0.10+0.005 
 DGSB 0.195-0.03 
 VIVOCOM 0.05+0.005 
 AEM 0.16+0.005 
 GPACKET 0.46-0.02 
 MAHSING 0.91-0.05 
 DATAPRP 0.18-0.015 
 HWGB 0.755-0.025 
 LUSTER 0.15-0.015 
 TRIVE 0.010.00 

FEATURED POSTS

1. The Equity Market Index Benchmark in Malaysia CMS
2. Trading Scenarios of Derivatives Bursa Derivatives Education Series
3. Derivatives 101 Bursa Derivatives Education Series
4. Why Trade FKLI? Bursa Derivatives Education Series
5. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!
PARTNERS & BROKERS