January 18, 2018 / 8:57 AM / 4 months ago

Malaysia's Khazanah posts 8.2 pct rise in 2017 portfolio value

KUALA LUMPUR, Jan 18 (Reuters) - Malaysia’s sovereign wealth fund Khazanah Nasional Bhd said on Thursday the value of its portfolio rose 8.2 percent last year, adding that the fund was on course to deliver long-term performance amid a cautious investment outlook.

The state fund’s portfolio value rose to 157.2 billion ringgit ($39.73 billion) in 2017 from 145.3 billion ringgit in the previous year, Khazanah said in a statement at a media conference.

Its portfolio net worth adjusted (NWA) climbed to 115.6 billion ringgit from 102.1 billion ringgit.

Khazanah’s investments include stakes in CIMB Group Holdings Bhd, Malaysia’s second largest lender by assets, telecommunications company Axiata Group Bhd and power utility manager Tenaga Nasional Bhd.

It is also the sole shareholder of national carrier Malaysia Airlines, for which it is spearheading a restructuring exercise.

It also participated in several foreign technology deals such as Alibaba Group’s logistics firm, Cainiao, and fintech firm WeLab in China, as well as India’s Infosys Ltd and Singapore’s NYSE-listed Sea Ltd.

The fund also announced the launch of a $320.8 million sukuk exchangeable for Chinese securities brokerage firm CITIC Securities Co Ltd’s Hong Kong-listed H-shares earlier on Thursday.

“Overall Khazanah will continue to stay the course with a focus on delivering long-term financial and strategic performance amidst cautious investment outlook,” Khazanah said. ($1 = 3.9565 ringgit) (Reporting by Liz Lee; Editing by Subhranshu Sahu)

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