KUALA LUMPUR: Khazanah Nasional Berhad managing director Shahril Ridza Ridzuan said Khazanah’s involvement in the Alibaba group is the reason the e-commerce giant is interested in investing in Malaysia.
Shahril said Alibaba now viewed Malaysia as a potential region for it to park its investment.
He said, “From just being an investor in their company, we have brought them here… to transfer whatever it is they do in China to Malaysia too. Investment we (Khazanah) make overseas, benefits us by bringing the partnership here.”
He added that the companies they invested in would be looking to see what they could do in the Southeast Asia market, using Malaysia as a base.
Khazanah, Shahril explained, had to juggle between trying to get commercial returns for its portfolios and trying to develop the nation by bringing in new partnerships and benefits to the country.
He was speaking at the “China Conference” organised by the South China Morning Post here.
Shahril said in terms of economic diversification, it was always important to have partnerships and friends.
“For Khazanah, we are looking at how much more we can do with China,” he said.
Saying entities such as Khazanah and EPF had also opened up opportunities for Malaysia to branch out into China, Shahril added: “When we look at China we see opportunity.”
He said Khazanah was also looking at Singapore as “it is always better to have more than one market”.
Shahril added that Malaysia’s economic strategy of being a hub for countries keen to access Southeast Asia had brought success.