In 2020, Khazanah’s profit from operations slumped by 61% to RM2.9bil as it made bigger impairments worth RM6bil. Of the impairments, RM3.1bil was for Malaysia Aviation Group (MAG). Meanwhile, in 2021, Khazanah’s operating profit dropped by a further 77% to RM670mil due to continuing financial assistance to Khazanah’s airlines and tourism companies that are still weathering headwinds from the Covid-19 pandemic.
FOR a sovereign wealth fund (SWF) whose operating profits have been declining in the past two years, Khazanah Nasional Bhd definitely has a lot on its plate moving forward.
It has to juggle between its roles to generate strong commercial returns as well as help in advancing Malaysia in terms of business activities and socio-economic resilience.
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