KUALA LUMPUR: The country's sovereign wealth fund Khazanah Nasional Bhd has declared a dividend of RM1 billion to the government for 2023.
In 2022, it declared dividends of RM500 million.
It has paid RM18.1 billion in dividends since 2004.
Khazanah Nasional Bhd recorded a higher profit from operations of RM5.9 billion in the financial year 2023 (FY23) compared with RM1.6 billion in 2022 despite the challenging and volatile global markets.
Managing director Datuk Amirul Feisal Wan Zahir in a media briefing on its annual review said Khazanah delivered more than three-fold in profit as compared with FY23 driven by higher dividends and distributions from investee companies, fair value gains, and capital preservation.
He said realisable asset value (RAV) over debt ratio remained healthy at 2.7 times.
Amirul said net asset value (NAV) grew from RM33 billion in 2004 to RM85 billion in 2023, resulting in a compounded annual growth rate of 5.1 per cent, fulfilling Khazanah's mandate to deliver sustainable returns to the nation and growing Malaysia's long-term wealth.
"The investment portfolio achieved a five years Rolling NAV timw-weighted rate of return (TWRR) of 2.9 per cent and a 1-year NAV TWRR of 5.7 per cent amidst the challenging market landscape within this period.
"The returns improved in 2023, driven by the developed market portfolio and a partial recovery of our listed investee companies in Malaysia," he said.