Muhyiddin named Khazanah chairman

Prime Minister Muhyiddin Yassin is the new chairman of Khazanah Nasional Berhad.

PETALING JAYA: Prime Minister Muhyiddin Yassin was today named the chairman of Khazanah Nasional Berhad, effectively immediately, the finance ministry announced.

Muhyiddin succeeds former prime minister Dr Mahathir Mohamad, who became chairman of the sovereign wealth fund in 2018.

Finance Minister Tengku Zafrul Aziz was appointed a member of the board.

Also named as board member is Mohammed Azlan Hashim, who had resigned along with eight others, including Azman Mokhtar, in 2018, after Pakatan Harapan wrested control of Putrajaya in the 14th general election.

Azlan is also the non-executive chairman of IHH Healthcare Berhad, a premium healthcare provider.

Khazanah is entrusted with growing the nation’s long-term wealth through distinct commercial and strategic objectives.

Last month, it reported a turnaround in overall performance for 2019 with record profits from operations contributed by higher divestment gains and lower impairments, and robust portfolio returns.