5%-10% increase in Khazanah CR initiative funding seen

  • Business
  • Saturday, 06 Apr 2013

KUALA LUMPUR: Khazanah Nasional Bhd will likely increase funding for its corporate responsibility (CR) initiatives this year by 5% to 10% from the RM62.4mil spent in 2012.

The Malaysia’s state investment arm said its CR initiatives last year had benefited more than 140,000 individuals across the country. Since 2004, Khazanah’s total funding for its CR initiatives stood at RM255mil, and was believed to have touched more than 500,000 lives nationwide.

“It is important for us to work with NGOs (non-governmental organisations) to build their capacity and ensure their resilience,” Khazanah managing director Tan Sri Azman Mokhtar said after the launch of Khazanah’s 2012 CR Report yesterday.

“We want organisations to align with our thinking, where we can add value. Not just the money, but also the corporate mindset in terms of achieving efficient delivery.”

The report, its fourth since 2009, detailed a range of CR initiatives on which Khazanah focused, including responsible investments and value creation; human capital development; social capital development and environmental stewardship.

“We hope that the publication of this CR Report will encourage more corporates to help underserved communities and protect the environment,” Azman said, after pointing out that Khazanah was more than just about financial and strategic returns.

This year, Khazanah collaborated with Wolfson College of Cambridge to sponsor two Malaysian journalists for the inaugural Khazanah-Wolfson Press Fellowship programme for 10 weeks. The first two recipients of the award were Marhaini Kamarudin of Utusan Malaysia and Cecilia Kok of The Star.

The annual programme aims to provide Malaysian journalists the opportunity to enhance their expertise and knowledge in the field and contribute towards the further development of journalism in Malaysia.

Khazanah’s investment portfolio registered a growth of 138.7% from RM50.9bil on May 14, 2004 to RM121.6bil as at Dec 31, 2012. This was accompanied by an increase in value created in excess of RM53bil over the same period.

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