No discussion on hiring foreigners on Khazanah board

By BERNAMA

The board of directors of Khazanah Nasional Bhd has not discussed getting a foreigner on the board, said Datuk Seri Mohamed Azmin Ali.

Azmin, who is a board member of Khazanah, said the first board meeting held last month discussed having strong representation and a professional team familiar with the issues to run and manage the board.

“No discussion about that (hiring a foreigner on the board),” he told reporters after delivering his keynote address at the Khazanah Megatrends Forum 2018 themed “On Balance: Recalibrating Markets, Firms, Society and People” yesterday.

A local English daily recently reported that foreigners may be appointed to the board, as part of the group’s strategy to tap into diverse expertise.

Asked if there would be changes in the investment mandate for Khazanah, Azmin, who is also Economic Affairs Minister, said it needs to look at the new challenges which include separating the strategic development of Khazanah and the commercial side of it.

“On the commercial side, we are engaging with different companies to ensure that returns to companies are good and positive, but at the same time it is also the role of Khazanah to get involved in research and development and help the government on strategic assets,” said Azmin.

Meanwhile, on the 11th Malaysia Plan mid-term report review next week, Azmin said issues and development challenges would be identified and new initiatives would be proposed.

Prime Minister Tun Dr Mahathir Mohamad will table the report in Parliament on Oct 18. — Bernama