“For this year, we hope to achieve profitability of at least RM5 billion,” Shahril Ridza Ridzuan, Khazanah’s managing director, said in brief comments to reporters at the fund’s annual conference on Monday.Last year Khazanah swung to a pretax loss of RM6.3 billion from a profit of RM2.9 billion in 2017, hit by higher impairments and lower dividend income.
Shahril also said the fund was on track to achieve this year’s target of cutting debt to RM47-RM48 billion from RM50 billion.Khazanah is the majority shareholder of several government-linked companies including state utility Tenaga Nasional Bhd, banking group CIMB Group Holdings Bhd Malaysia Airports Holdings Bhd and Telekom Malaysia Bhd.
Khazanah said in March the realisable asset value of its portfolio fell to RM136 billion in 2018 from RM157 billion a year prior. -- Reuters
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