Khazanah Nasional: Malaysia's treasure trove

Jikon Lai*

*Corresponding author for this work

    Research output: Contribution to journalArticlepeer-review

    16 Citations (Scopus)

    Abstract

    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.

    Original languageEnglish
    Pages (from-to)236-252
    Number of pages17
    JournalJournal of the Asia Pacific Economy
    Volume17
    Issue number2
    DOIs
    Publication statusPublished - May 2012

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