Dr M: Khazanah lost sight of its original purpose

Mahathir said Khazanah was expressly set up to prop up the value of shares allocated to the community and prevent these from being sold off to other groups. — AFP pic
Mahathir said Khazanah was expressly set up to prop up the value of shares allocated to the community and prevent these from being sold off to other groups. — AFP pic

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PUTRAJAYA, July 6 — Sovereign wealth fund Khazanah Nasional was created to support Bumiputera equity in Malaysia but has diverged from this objective, Tun Dr Mahathir Mohamad said today.

Responding to a question on his earlier reported remarks about Khazanah, the prime minister said the fund was expressly set up to prop up the value of shares allocated to the community and prevent these from being sold off to other groups.

“It is quite obvious they are doing all kinds of funny things, buying houses, they are taking over companies.

“Now they seem to be taking up all shares, all on their own whether meant for Bumiputera or not.

“So maybe they should go back to their original purpose,” he said during a press conference after a Pakatan Harapan presidential council meeting here.

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