Khazanah portfolio value RM103.5b in 2013, proposes dividend of RM650m (Update)

  • Business
  • Monday, 20 Jan 2014

KUALA LUMPUR: Khazanah Nasional Bhd’s portfolio value (net worth adjusted or NWA) rose 19.1% in 2013, which was a three-fold increase to RM103.5bil from RM33.3bil in May 2004.

Khazanah also recorded an unaudited proforma company profit before tax of RM3.1bil (2012: RM2.1bil), resulting in a proposed dividend of RM650mil.

In its Tenth Khazanah Annual Review (KAR 2014) issued on Monday, it said the NWA this translated into a compounded annual growth rate (CAGR) of 12.5% per annum since 2004.

“In terms of contribution in that period from May 2004 to December 2013, Khazanah’s NWA was primarily driven by its holdings in the telecommunications sector comprising Telekom Malaysia Bhd and Axiata Group Bhd (RM21.3bil), UEM Group Bhd (RM15.8bil), Tenaga Nasional Bhd (TNB) with RM12.8 billion, CIMB Group Bhd (RM11.6bil), and the healthcare sector with a contribution of RM8.6bil,” it said.

Khazanah said its overall realisable asset value (RAV) increased 164.8% or RM84bil to RM134.9bil as at Dec 31, 2013, from RM50.9bil in May 2004.

“In 2013, Khazanah posted a new high in its investment portfolio value with overall RAV increasing 11.1% from RM121.5bil as at Dec 31, 2012, while NWA rose RM16.6bil or 19.1% from RM86.9bil. The growth in NWA year-on-year outperformed FBM KLCI total returns of 14.4%,” it said.

The sovereign wealth fund pointed out the 19.1% increase in NWA in 2013 also compared favourably with regional indices such as the Singapore Straits Times Index (7.3%), Hong Kong Hang Seng Index (14.3%) and MSCI Asia ex-Japan (10.8%).

Its total revenue for the year ended Dec 31, 2013 amounted to RM7.6bil, comprising of dividend income totaling RM6.6bil, with divestment gains and other income making up more than RM1bil.

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