Malaysia PM Mahathir named chairman of sovereign wealth fund Khazanah

KUALA LUMPUR - Malaysian Prime Minister Mahathir Mohamad has been appointed chairman of sovereign fund Khazanah Nasional, the Prime Minister's office said in a statement on Monday (July 30).

The statement also mentioned the appointment of four directors to the fund's board, including Malaysia's Economic Affairs Minister Azmin Ali.

The appointments will take immediate effect, but the managing director will be appointed at a later date, the statement added.

Malaysia's RM157.2 billion (S$52.79 billion) sovereign wealth fund Khazanah Nasional's managing director and its entire board offered to resign last week in the biggest management shake up at state-linked firms since the new government took charge.

ALSO READ: Mass resignation of Khazanah sovereign wealth fund board a wise decision: Malaysian Finance Minister