KUALA LUMPUR: Khazanah Nasional Bhd needs a comprehensive plan to revive non-performing companies under its management to ensure better returns at end-2019, said Economic Affairs Minister Datuk Seri Mohamed Azmin Ali (pix).
He said the management must look into the matter and overcome the problems faced by poor-earning companies – a necessary business decision to save the sovereign wealth fund.
“I’m sure they have met and discussed (about it). Firstly, they have to identify which companies are not performing, then decide on their future, as to whether to consolidate or sell.
“But, the decision must be made at the management level as soon as possible, for better returns at end-2019,” he said when met by reporters at the Parliament lobby here today.
Khazanah posted a pre-tax loss of RM6.3 billion for 2018 after recording a whopping RM7.3 billion in impairments, compared with a pre-tax profit of RM2.9 billion recorded in 2017. — Bernama