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22 September 2013

Prime Minister officiates Khazanah Americas Incorporated office

  • KAI to facilitate Malaysian strategic investments in the Americas
  • Frost & Sullivan confers Khazanah the Global Award for Visionary Innovation Leadership

YAB Prime Minister of Malaysia, Dato’ Sri Mohd Najib Tun Abdul Razak, today officiated Khazanah Nasional Berhad’s (“Khazanah”) regional office for the Americas, Khazanah Americas Incorporated (“KAI”), in San Francisco.

KAI, Khazanah’s third regional office after Beijing and Mumbai, will facilitate investments in the Americas which are of strategic interest to Khazanah, its investee companies and Malaysia in general. It is envisaged that locating KAI in San Francisco, a premier hub for innovation and technology, will help Khazanah to better evaluate opportunities in technology-enabled New Economy Investment sectors. Furthermore, KAI will enable current and future collaborations between Malaysia and the United States and accelerate Malaysia’s innovation agenda.

Khazanah Managing Director, Tan Sri Dato’ Azman Hj Mokhtar said: “As home to both established technology firms and start-up ventures, leading universities and media-related companies, San Francisco and its surrounding environs have established a vibrant ecosystem for supporting entrepreneurs and innovation. The establishment of KAI will help build a pipeline of talent and collaboration between Malaysia and the US and help accelerate Malaysia’s very own innovation and technology capabilities.”

In this, Tan Sri Azman added: “KAI will play an immensely important role as a bridge between Malaysia and the premier innovation and technology hubs of the US.”

Khazanah’s expansion into the American continent is part of its larger strategy to become more global in scope. As of 29 May 2013, Khazanah’s overseas investments represent approximately 9% of its total investments portfolio of RM135.9 billion. On a see-through basis, the percentage is bigger and represents approximately 35% of Khazanah’s investments portfolio.

At the same event, Khazanah was also conferred the Global Award for Visionary Innovation Leadership by Frost & Sullivan, the global business consulting firm, for the pioneering work that Khazanah has done to catalyse and propel economic development in Malaysia.

The prestigious award acknowledges Khazanah’s leadership role in transforming Government-Linked Companies (GLCs), expanding the Malaysia brand regionally and globally, and its visionary approach to economic development through Iskandar Malaysia.

END



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