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Malaysian fund looks to China

(China Daily/Agencies)
Updated: 2008-05-15 09:31

Khazanah Nasional Bhd, the Malaysian government's $25 billion investment fund, is evaluating investments in China's infrastructure, environmental products, financial and healthcare services, the agency's chief said.

"We have a longer horizon compared with the traditional private-equity investors, and we're experienced in many emerging economies," Khazanah's Managing Director Azman Mokhtar said in Beijing.

The Malaysian agency, with $100 billion of equity stakes in more than 50 companies in five countries, joins the $60 billion Qatar Investment Authority and Singapore's Temasek Holdings Pte in tapping growth opportunities in China and other emerging markets. Khazanah is expanding beyond owning government-linked companies, such as Telekom Malaysia Bhd and Bumiputra-Commerce Holdings Bhd.

The Chinese government is spurring local entrepreneurs and State-owned companies to invest more money abroad, using the country's $1.68 trillion in foreign-currency reserves to buy strategic stakes in mines, financial companies and oil fields.

"We want to offer our experience and our network as the bridge for Chinese companies to invest in third countries," Azman said.

By increasing overseas investments, China wants to counterbalance the inflow of foreign funds and ease pressures for the yuan to appreciate against major currencies.

Khazanah's investments include stakes in India's Apollo Hospitals Enterprise Ltd, Hong Kong-traded Parkson Retail Group Ltd, Singapore's MobileOne Pte and Indonesia's PT Bank Lippo.