You are here

Malaysia's Khazanah announces US$1.57b investments to support govt measures

[KUALA LUMPUR] Khazanah Nasional Bhd, Malaysia's sovereign wealth fund, announced on Monday additional domestic investments of RM6.77 billion (US$1.57 billion) to support the government's economic measures to boost investor sentiment.

The Malaysian government announced earlier on Monday economic measures to boost confidence in a country reeling from a political scandal. The measures included the injection of RM20 billion (US$4.6 billion) into a state investment firm to shore up the stock market.

Khazanah will "accelerate and increase domestic investments over the immediate and medium term" in sectors ranging from leisure and tourism to innovation and technology, the fund said in a press statement.