Azmin explained that Khazanah was established to safeguard Malaysia’s strategic assets, such as Telekom Malaysia and Tenaga Nasional Berhad. “These are vital to the nation’s sovereignty, and the role of the PM as chairman is crucial to ensure these assets remain protected,” he said at the Parliament lobby.
Professional Management and Strategic Oversight
Azmin assured that Khazanah would primarily be managed by professionals, with Prime Minister Dr. Mahathir Mohamad expected to announce additional board members soon. “There will be two or three new names to handle financial and administrative matters, excluding the PM and me,” he said.
Deputy Prime Minister Dr. Wan Azizah Wan Ismail also defended the appointments, stating that the inclusion of Mahathir and Azmin on the board posed no conflict of interest. “Their roles align with the expertise needed to attract investments,” she said.
Azmin highlighted Khazanah’s unique structure, designed to oversee and safeguard Malaysia’s strategic assets. “The PM, as chairman, plays a key role in steering Khazanah’s direction and ensuring these assets don’t fall into the wrong hands,” he added.
Addressing PKR Election Speculations
When asked about the upcoming PKR elections, Azmin, the party’s deputy president, said he had not yet decided which position to contest, emphasizing his current focus on the Sungai Kandis by-election and parliamentary debates.
He dismissed rumors of factions within PKR, calling them “irresponsible perceptions.” Azmin acknowledged Rafizi Ramli’s right to challenge for the deputy president’s post, noting that such ambitions are part of a healthy democracy within the party. Rafizi recently announced his team, “Reformasi 20 Tahun,” which pledged loyalty to Anwar Ibrahim and a commitment to reforms.
Khazanah Board Restructuring
The discussion around Khazanah’s leadership follows a significant restructuring, with the resignation of its directors after reported losses from a failed RM3 billion investment. This restructuring, coupled with Mahathir’s appointment as chairman, aims to recalibrate the sovereign wealth fund’s governance and direction.