KUALA LUMPUR, March 2 ― Malaysia’s sovereign wealth fund Khazanah Nasional Berhad today reported lower profits from its operations in 2021 compared to 2020, which it attributed to the continued challenges posed to the tourism and aviation sectors during the pandemic era. The company reported.
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Malaysia’s Khazanah reports 61% drop in profits for 2020
Bloomberg
Khazanah Nasional Berhad, Malaysia s Kuala Lumpur-based sovereign wealth fund, reported a 61% drop in profits on its mix of commercial and strategic investments for 2020.
The fund pushed forward with a two-year exercise in rebalancing its portfolio against the backdrop of a challenging economy and the unprecedented impact of the COVID-19 pandemic, managing in some places to take advantage of the volatility, Shahril Ridza Ridzuan, Khazanah s managing director, said Thursday in a news release. Despite these challenges, we were able to build on our efforts in recent years, allowing us to navigate the economic uncertainty, Mr. Shahril said.