Staff of Reuters Read for 2 minutes (Adds background,) Reuters, KUALA LUMPUR, June 29 – On Tuesday, Malaysia’s sovereign wealth fund Khazanah Nasional announced the appointment of Amirul Feisal Wan Zahir, the former chief financial officer of Malayan Banking (Maybank), as managing director, starting July 16. Amirul Feisal, who resigned from Maybank on Monday, will succeed Shahril Ridza Ridzuan, who will “depart to pursue his personal interests upon the expiration of his contract,” according to a statement from Khazanah. Shahril Ridza was appointed in 2018 amid a reorganization at the fund following the election of a new administration led by Mahathir Mohamad. Since 2019, Khazanah has restructured its portfolio into commercial and strategic holdings, including ownership of Malaysia Airlines and PLUS Malaysia Bhd, a highway operator. The fund also sold its stakes in Alibaba Group Holding Ltd of China, BDO Unibank Inc of the Philippines, Farfetch IPO-FAR.L of London, Infosys Ltd of India, and Charoen Pokphand Indonesia tbk of Thailand. Khazanah’s profit declined 60.6 percent last year due to a substantial drop in divestment gains due to the coronavirus outbreak. The fund has predicted that more obstacles will arise this year, with vital sectors including aviation and tourism not projected to recover until 2023. Rozanna Latiff contributed reporting. Ed Davies and Martin Petty edited the piece. Continue reading
