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More cash, less control - New mantra for Malaysia's Khazanah


Under the new strategy, set to be announced at Khazanah's annual review on Feb. 28, the $39 billion fund will look to trim stakes in some companies identified as non-strategic to 15-25 percent - near the typical holding levels of pension funds, two of the sources told Reuters.

Under the new strategy, set to be announced at Khazanah's annual review on Feb. 28, the $39 billion fund will look to trim stakes in some companies identified as non-strategic to 15-25 percent - near the typical holding levels of pension funds, two of the sources told Reuters.

KUALA LUMPUR/SINGAPORE: Malaysian sovereign wealth fund Khazanah Nasional will unveil a plan this month to deliver more cash to the government by pruning its stakes in non-strategic assets and dialling back its offshore presence in spots such as London, sources told Reuters.

This underlines the urgent need for Prime Minister Mahathir Mohamad to raise money for government coffers, depleted by a fiscal deficit and a massive debt from a multi-billion dollar scandal at state fund 1Malaysia Development Berhad (1MDB).

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