TY - JOUR
T1 - Khazanah Nasional
T2 - Malaysia's treasure trove
AU - Lai, Jikon
PY - 2012/5
Y1 - 2012/5
N2 - Malaysia's Khazanah Nasional, established in 1994, is one of the 20 largest sovereign wealth funds in the world. In the first decade of its existence, Khazanah had remained a relatively secretive organisation, sheltered by virtue of being wholly owned by the government and reporting directly to the prime minister who provided the organisation with investment direction. However, at the dawn of its second decade of existence, Khazanah became much more transparent and accountable, and provided the public with more information about its activities, including a limited range of financial indicators. The change in leadership and democratic demands explain this turnaround. A reformed Khazanah was also given a new mandate to invest more aggressively internationally. The bulk of its investments has, however, remained in Malaysia and continues to be affected by the dynamics of local politics.
AB - Malaysia's Khazanah Nasional, established in 1994, is one of the 20 largest sovereign wealth funds in the world. In the first decade of its existence, Khazanah had remained a relatively secretive organisation, sheltered by virtue of being wholly owned by the government and reporting directly to the prime minister who provided the organisation with investment direction. However, at the dawn of its second decade of existence, Khazanah became much more transparent and accountable, and provided the public with more information about its activities, including a limited range of financial indicators. The change in leadership and democratic demands explain this turnaround. A reformed Khazanah was also given a new mandate to invest more aggressively internationally. The bulk of its investments has, however, remained in Malaysia and continues to be affected by the dynamics of local politics.
KW - Malaysian political economy
KW - economic development
KW - financial sector
KW - foreign investments
KW - sovereign wealth fund
UR - http://www.scopus.com/inward/record.url?scp=84859599638&partnerID=8YFLogxK
U2 - 10.1080/13547860.2012.668023
DO - 10.1080/13547860.2012.668023
M3 - Article
SN - 1354-7860
VL - 17
SP - 236
EP - 252
JO - Journal of the Asia Pacific Economy
JF - Journal of the Asia Pacific Economy
IS - 2
ER -