Khazanah conferred global award for visionary innovation leadership

MD Azman Mokhtar receives award, first ever conferred. — Reuters file pic
MD Azman Mokhtar receives award, first ever conferred. — Reuters file pic

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SAN FRANCISCO, Sept 23 — Khazanah Nasional Berhad, the strategic investment fund of the Government of Malaysia, has been conferred the Global Award for Visionary Innovation Leadership by Frost & Sullivan, the global business consulting firm.

Frost & Sullivan cites Khazanah’s pioneering work to catalyse and propel the economy in Malaysia.

The pretigious award acknowledges Khazanah’s leadership role in transforming Government-Linked Companies (GLCs), expanding the Malaysia brand regionally and globally, and its visionary approach to economic development through Iskandar Malaysia.

Frost & Sullivan chairman David Frigstad presented the award o Khazanah managing director Tan Sri Azman Mokhtar at a ceremony at the office of Khazanah Americas Incorporated here yesterday.

Present was Prime Minister Datuk Seri Najib Tun Razak together with his wife Datin Seri Rosmah Mansor.

Among others present were Communications and Multimedia Minister Datuk Seri Ahmad Shabery Cheek; Second Education Minister Datuk Seri Idris Jusoh; Science, Technology and Innovation Minister Datuk Dr Ewon Ebin; Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin, and Director, San Francisco Mayor’s Office of International Trade and Commerce Mark Chandler.

Frigstad told reporters this was the first time that the firm had conferred such an award.

Frost & Sullivan, based in Mountain View, California, had done a two-year study before deciding to confer the award to Khazanah.

Frigstad said Frost & Sullivan had compared Khazanah with other GLCs from all over the world, and were impressed with Khazanah’s best practices in satisfying the needs of its stakeholders, the citizens and investors.

“We hope the award would inspire other governments to put people first,” Frigstad said, in apparent reference to the “People First. Performance Now” policy of the Malaysian government.

Frigstad believed Khazanah would come up with many more “big ideas” based on what they would learn from innovative companies in the Silicon Valley here.

Khazanah, entrusted to hold and manage commercial assets of the government and to undertake strategic investment, is involved in various sectors such as power, telecommunications, banking, healthcare, airport management, infrastructure, leisure and tourism, property development, broadcasting, investment holding, and technology.

As of May 29 this year, Khazanah’s overseas investments represent approximately 9 per cent of its total investment portfolio of RM135.9 billion. On a see-through basis, the percentage is bigger and represents approximately 35 per cent of Khazanah’s investment portfolio.

Najib, who is on a working visit to San Francisco and New York, from yesterday to September 29, will chair the 3rd Global Science and Innovation Advisory Council (GSIAC) meeting here today. He will also chair the 7th BIO-International Advisory Panel meeting and visit Silicon Valley, which includes a tour of the headquarters of Twitter and Google. — Bernama

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