As regional markets reeled under the worst selloff in US stocks in more than six years, he said: “Today’s correction in the market, we’re quite cool about it, because the coverage of our assets and our liabilities is more than three times.”

In a report by The Edge Markets, he said Khazanah was “primed for growth and resilience to any market volatility”.

The Bursa Malaysia KLCI index yesterday slumped 2.2% to 1,812.45, its worst performance in more than two years. The Straits Times Index tumbled 2.2% to 3,406.38, marking its biggest single-day percentage drop since January 2016.

According to a report in the Nikkei Asian Review (NAR), the selloff was broad-based with all but one of the 30 stocks on the STI and KLCI closing lower on Tuesday.

The losses came after US indexes plunged overnight with the Dow Jones Industrial Average and S&P 500 Index dropping more than 4%.

According to the NAR report, the risk sentiment in global markets has turned in recent days as investors fret over the possibility of inflation in US accelerating, prompting short-term interest rates to rise at a quicker pace than expected at the beginning of the year.

Khazanah’s confidence is based on the fact that it reported a record high portfolio net worth adjusted of RM115.6 billion as at Dec 31, 2017, compared with RM102.1 billion in 2016.

Azman said the 13.2% year-on-year growth was higher than its average 9.6% growth per annum, The Edge Markets reported.

Khazanah’s realisable asset value cover ratio increased to 3.1 times from 2.9 times in 2016. Khazanah has investments in companies such as CIMB Group Holdings Bhd, Axiata Group Bhd and Tenaga Nasional Bhd.