Update Khazanah cautious on 2014 strategies
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Update Khazanah cautious on 2014 strategies
Update Khazanah cautious on 2014 strategies |
Business & Markets 2014 |
Written by Jeffrey Tan of theedgemalaysia.com |
Monday, 20 January 2014 20:17 |
Speaking to the media, the government investment arm’s Managing Director Tan Sri Azman bin Haji Mokhtar said the overall investment stance remains cautious where there is a premium on remaining alert and nimble.
“Though we are cautious on investments, it does not mean we will see more divestments for the year.
“We are also cautious on divestments. We have be clear at what price ‘we walk away’ and at what price ‘we stand firm’,” said Azman.
He explained there are three criteria that Khazanah adheres to with regards to divestment of its assets.
He said the three criteria that must be met are whether the assets are core assets, competitive and has the right selling price.
“There are certain core sectors we invest in, for instance the banking sector. Within the core sector, there may be non-core assets.
“For example, we sold our stake in RHB Capital Bhd and EON Capital Bhd. Regulation dictates we cannot hold investments in more than one bank,” he said.
Azman added: “Another aspect to consider is whether we can create value in the assets. If not, we will sell it.”
Azman said as the government's investment arm, Khazanah needs to 'hold' certain key assets.
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