KUALA LUMPUR: Khazanah Nasional Bhd achieved a profit from operations of RM5.1bil in 2024, driven by disciplined monetisation strategies, steady dividend income and fair value gains from global public equities.
The sovereign fund’s balance sheet remains healthy with realisable asset value (RAV) over debt ratio at 3.2x.
In a statement, Khazanah announced that its net asset value (NAV) rose to RM103.6bil in 2024, up from RM84.8bil in 2023, reflecting a significant increase of RM18.8bil.
From an overall Khazanah portfolio perspective, overall NAV growth increased from RM33bil in 2004 to RM104bil in 2024, achieving a compounded annual growth rate (CAGR) of 5.9%.
This growth aligns with Khazanah’s mandate to generate sustainable returns for the nation while enhancing Malaysia’s long-term wealth.
While these results show strong overall performance, the private market saw weaker performance due to the delayed impact of higher interest rates and a tough financing and exit environment.
Moving forward, Khazanah will continue to execute its value creation efforts and portfolio rebalancing strategy to strengthen the balance sheet and build a resilient financial position.
Khazanah has declared a dividend of RM1bil for 2024 to the Government, contributing to a cumulative total of RM19.1bil in dividends paid since 2004.
“We achieved a significant growth in our portfolio in 2024, driven by the strong performance of our Malaysian investments, particularly our holdings in the major constituents outperforming the KLCI, on the back of strong domestic market performance, continued growth of public equities in developed markets and the recovery in emerging markets.
“Our positive performance is also driven by the Ekonomi MADANI framework, championed by the Prime Minister of Malaysia, showcasing how strategic investments and sustainable practices can drive inclusive economic growth,” managing director Datuk Amirul Feisal Wan Zahir said.
Malaysia’s economy showed strong resilience in 2024, with GDP growth expected to rise to between 4.8% and 5.3%. The ringgit strengthened by 2.7% against the US dollar, and the FBM KLCI posted a solid 12.58% gain.
This robust economic environment, along with Khazanah’s disciplined investment approach, contributed to our strong performance for the year, with NAV time-weighted rate of return (TWRR) reaching 24.6%, a significant increase from 5.7% in 2023.
