KUALA LUMPUR, Feb 5 — Khazanah Nasional Berhad reported a profit from operations of RM5.1 billion for 2024, down from RM5.9 billion in 2023.
Despite the decline, the sovereign wealth fund achieved strong investment returns and portfolio growth, with its net asset value (NAV) increasing by RM18.8 billion to RM103.6 billion.
Khazanah managing director Datuk Amirul Feisal Wan Zahir said the fund remains focused on long-term value creation despite challenges in the private market sector.
“2024 was a good year for us. Our investments grew by RM18.8 billion,” he said during a media briefing at Menara UEM today.
Amirul emphasised Khazanah’s commitment to its long-term strategy of advancing Malaysia under the “A Nation That Creates” framework, aligned with Ekonomi Madani values.
He noted that Khazanah’s NAV grew from RM33 billion in 2004 to RM104 billion in 2024, achieving a compounded annual growth rate (CAGR) of 5.9 per cent.
“This growth reflects our mandate to generate sustainable returns while enhancing Malaysia’s long-term wealth,” he said.
However, he acknowledged weaker performance in overseas private markets due to higher interest rates and a challenging financing environment.
Khazanah has declared a RM1 billion dividend for 2024, bringing its total dividends to RM19.1 billion since 2004.
Key highlights of 2024 include:
Investment growth: The total weighted rate of return (TWRR) rose to 24.6 per cent from 5.7 per cent in 2023.
Venture capital expansion: Launch of Jelawang Capital, a national fund-of-funds to support Malaysia’s venture capital ecosystem.
Business support: RM1 billion allocated to strengthen mid-tier companies and the semiconductor and advanced manufacturing sectors.
Energy investments: RM1.5 billion allocated for energy transition projects, including solar initiatives.
Another milestone was the privatisation of Malaysia Airports Holdings Berhad (MAHB), valued at RM18.4 billion.
“This will upgrade airport infrastructure, enhance passenger services, and boost tourism,” Amirul said.
The K-Youth Programme, which benefited 8,222 youths—76 per cent from B40 communities—also received RM200 million in funding.
Additionally, Khazanah invested RM600 million to revitalise Kuala Lumpur, including restoring the Bangunan Sultan Abdul Samad and Carcosa Seri Negara.
Since 2006, the fund has channelled RM2.5 billion into community initiatives and environmental projects like Taman Tugu, which welcomed 1.3 million visitors in 2024.