(Adds investment details, 2017 outlook)
KUALA LUMPUR Jan 13 Malaysia's sovereign wealth
fund Khazanah Nasional Bhd on Friday said the value
of its portfolio fell 3.4 percent in 2016 due to weakness in
equity markets and emerging market currencies.
The state fund's portfolio value fell to 145.1 billion
ringgit ($32.53 billion) in 2016 from 150.2 billion in 2015.
"The volatile, uncertain, complex and ambiguous global
business and market environment is expected to continue in
2017," Managing Director Azman Mokhtar told reporters.
Khazanah's investments include stakes in Malaysian mobile
services provider Axiata Group Bhd, electricity
utility Tenaga Nasional Bhd and lender CIMB Group
. It is also the sole shareholder of national carrier
Malaysia Airlines, whose turnaround is on track, it said.
The fund's foreign investment includes stakes in China's
e-commerce giant Alibaba Group Holding Ltd.
Malaysia accounted for about 54.9 percent of Khazanah's
portfolio. The fund has been making a push recently to invest
overseas, including in China.
Khazanah said it invested a total of 6.9 billion ringgit
across 17 new investments last year.
(Reporting by Liz Lee; Editing by Clarence Fernandez and