KUALA LUMPUR: Khazanah Nasional Bhd recorded a higher profit from operations of RM5.9 billion in financial year 2023 (FY2023) compared with RM1.6 billion in FY2022 amid volatile global market conditions.
Managing director Datuk Amirul Feisal Wan Zahir said its stronger performance was driven by higher dividends and distributions from investee companies, fair value gains, and capital preservation.
“2023 was challenging for Khazanah and the global markets, influenced by the anticipated peak in the United States (US) Federal Reserve rates, a slowdown in elevated inflation, tight monetary conditions, a concentrated rally in artificial intelligence (AI), weak growth in China, and ongoing geopolitical conflicts,” he told a media briefing on Khazanah Annual Review 2024 here today.
Nevertheless, he said, Khazanah remained resilient and demonstrated disciplined capital allocation to deliver sustainable returns while investing for the future and embedding sustainability across operations.
The sovereign wealth fund announced a better dividend of RM1 billion for 2023 to the government (FY2022: RM500 million), bringing the cumulative dividends paid since 2004 to RM18.1 billion. — BERNAMA
