NST Business
KUALA LUMPUR: Khazanah Nasional Bhd will continue to explore investment opportunities in the United States, with eyes on innovation and technology sectors.
Responding to news reports on its investments in the US following the recent visit by Prime Minister Datuk Seri Najib Razak, Khazanah said:“In line with its policy to progressively diversify its investment portfolio overseas, Khazanah opened Khazanah Americas Incorporated in San Francisco in September 2013, with a focus on the innovation and technology sector.
"The San Francisco office is the third of Khazanah’s five foreign offices, the others being in Beijing, Mumbai, Istanbul and London.“To date, Khazanah has made a total of 15 investments worth about US$410million in the US principally in the technology sector. Our investments in the US represent 1.3 per cent of our portfolio realisable asset value of RM145.3 billion as at December 31 2016,” it said in a statement issued today.
The strategic investment fund body said it practices a strict process of origination and evaluation of investment proposals, involving detailed due diligence and multiple investment gates, before submission to its board of directors for consideration and approval.
“Overall, long-term value creation from our investment portfolio remains steady, with our portfolio net worth adjusted having increased 3.1 times, or growing at a compounded annual growth rate of 9.3 per cent per annum, for the period from May 2004 to December 31, 2016.
“In line with our mandate as a strategic investment fund that creates long-term value for Malaysia via multiple sectors and geographies, Khazanah will continue to explore investment opportunities in the United States, focusing primarily on the innovation and technology sector,” it added.