Thu, 07 Aug 2008
Khazanah Nasional, the investment arm of the Malaysian Government, is now a major corporate player in Indonesia with nearly $2 billion in investments. As it seeks to expand its corporate presence, Khazanah is also mindful of having a positive socio-economic impact.

At a time when few international investors viewed Indonesia as an attractive destination, Khazanah Nasional Bhd. did not need convincing of the prospects of the country.

The strategic investment arm of the Malaysian government made its first foray into Indonesia in 2005 when it bought a 16.8% stake in ExelcomIndo Pratama Tbk. for $237 million, and has never looked back.

Today Khazanah is a global investor which has made inroads into Saudi Arabia, China and India. Indonesia, however, remains its largest market, having pumped $2 billion into the country both directly and indirectly.

Not only has it increased its stake in Exelcomindo to 83.81% through its subsidiary Telekom Malaysia. Khazanah also had majority stakes in Bank Lippo and Bank Niaga, two of the largest banks in Indonesia which it is now merging to become CIMB Niaga.

“Khazanah remains very committed to long-term development and positive economic ties between Malaysia and Indonesia,” says Tan Sri Dato’ Azman Hj. Mokhtar, managing director of Khazanah Nasional Bhd.

“In all our investment decisions, we always ask two basic questions first, how does it fit our investment policy and objectives; second, and equally important, how does the proposed investment sit with the host country’s plans and objectives?

“It is a necessary condition the answer to both must be positive and affirmative,” he adds.



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