Khazanah To Announce Plan To Divest Or Reduce Stakes In 3 Companies In 3-6 Months

KUALA LUMPUR, Aug 16 (Bernama) Khazanah Nasional Bhd will reveal the names of its remaining three non-core units where it will either reduce its stakes or divest them entirely in the next three to six months.

Its managing director Tan Sri Azam Mokhtar said the three have been identified and would go through an evaluation phase before an announcement could be made.

"We expect to announce it during announcement of the first-quarter financial results in January next year and by that time we will able to provide more details.

"The three companies could come from any sectors," he told reporters after the Yayasan Khazanah's breaking of fast here today.

Also present was International Trade and Industry Minister Datuk Seri Mustapa Mohamed, who has also witnessed the launch of the Khazanah Scholarship Alumni Association.

The association was set up by Yayasan Khazanah to strengthen the bond and serve as a knowledge-sharing platform among alumni members.

For this year, Yayasan Khazanah board and trustees had approved a budget of RM20 million for 72 new scholarships to students with exceptional academic results and demonstrate superior leadership qualities.

To date, Yayasan Khazanah has spent a total of RM61.9 million for its development programmes for 286 students since its inception in 2006. - Bernama
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