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Malaysia's state fund has 410 mln USD investment in the U.S.

Source:XinhuaNet   Time:2017-09-18 09:42:22

Malaysia's state investment fund Khazanah Nasional said Friday that it has made a total of 15 investments worth approximately 410 million U.S. dollar in the United States, principally in the technology sector.

In a statement, the state fund said its investments in the United States represent 1.3 percent of its portfolio realizable asset value of 145.3 billion ringgit as of Dec. 31, 2016.

"In line with our mandate as a strategic investment fund that creates long-term value for Malaysia via multiple sectors and geographies, Khazanah will continue to explore investment opportunities in the United States, focusing primarily on the innovation and technology sector," it added.

The state fund also noted that it had opened Khazanah Americas Incorporated in San Francisco in 2013, with a focus on the innovation and technology sector.

"This was in line with (our) policy to progressively diversify its investment portfolio overseas," it said.

The San Francisco office is the third of Khazanah's five foreign offices and the others are in Beijing, Mumbai, Istanbul and London.

Malaysian Prime Minister Najib Razak said during his recent visit to the United States that Khazanah and the Employees Provident Fund (EPF) plan to expand investments in the United States, triggering criticism by oppositions at home.

Najib said the investment would bring huge returns thus benefit Malaysian people. (1 Malaysian ringgit = 0.24 U.S. dollar) 
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