Dr M is Khazanah Chairman, Azmin Director

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Prime Minister Tun Dr Mahathir Mohamad has been appointed chairman of the board of Khazanah Nasional Bhd, the Prime Minister’s Office announced yesterday in a statement.

Datuk Seri Mohamed Azmin Ali, Tan Sri Mohd Hassan Marican, Dr Sukhdave Singh and Goh Ching Yin have also been appointed directors of the sovereign wealth fund.

All appointments will take effect immediately.

The appointment of the managing director of Khazanah Nasional would be announced at a later date. added the statement.

Azmin is Minister of Economic Affairs while Sukhdave is a former deputy governor of Bank Negara Malaysia.

Mohd Hassan Marican is the former Petronas President and Chief Executive Officer as well as a member of the Council of Eminent Persons.

Goh is a director at Maybank Asset Management Group Berhad, as well as an independent and non-executive director at Shangri-La Hotels (Malaysia) Bhd. He was the Executive Director of Strategy and Development at the Securities Commission of Malaysia from 2007 to 2016.

Nine directors of Khazanah Nasional, including its managing director Azman Mokhtar and executive committee chairman Nor Md Yusof, resigned last week to allow the new government to decide the leadership of the fund.

It is not known if all the resignation letters given by the nine board members have been accepted and if any of them would be asked to stay on.

By convention, the Prime Minister is the chairman of Khazanah.

Apart from the chairman’s position, there is at least one more minister appointed to the board of Khazanah.

Former prime minister Najib Abdul Razak had resigned as Khazanah chairperson on May 31 after BN was defeated in GE14.

Related reports:

Jul 30, Report: RM3B Loss Caused Khazanah Ouster

Jul 28, Three Potential Candidates for Khazanah MD

Jul 26, All Nine Directors of Khazanah Board Quit, Leaves Leadership Decision to PM

Jun 1, Najib, Johari, Irwan Resign from Khazanah

May 24, Khazanah Says Had ‘No Control’ over Funds Used to Pay 1MDB Debts