Economic Affairs Minister Datuk Seri Azmin Ali said poor decisions and a huge investment in MAS forced Khazanah to bear the brunt of the losses at a time when the government is looking to raise money for government coffers, depleted by a fiscal deficit and a massive debt from 1MDB. — Picture by Yusof Mat Isa
The economic affairs minister was responding to Barisan Nasional’s attacks following the sovereign fund’s announcement of impairment costs from 2018. “Khazanah reported RM6 billion loss was caused by impairments that increased to more than RM7b as a result of a review of the assets and investments made before the new govt took over,” Azmin said in a series of tweets.Khazanah P&L: Trouble these days is some politicos, often failed Ministers, babble first and check later. End up meludah ke langit, terkena muka sendiri. Here's why.
Yesterday Khazanah managing director Shahril Ridza Ridzuan, who took charge of the fund in August, said the government have asked them to start anew with fresh mandates.