Wednesday, January 4, 2012
Khazanah Nasional ( Malaysia's Money Pot)
Khazanah
Nasional www.khazanah.com.my
Khazanah Nasional is the
investment holding arm of the Government of Malaysia and is empowered as the
Government's strategic investor in new industries and markets. As trustees to
the nation's commercial assets, Khazanah’s main objective is to promote
economic growth and make strategic investments on behalf of the Government
which would contribute towards nation buildings. Khazanah is also tasked to
nurture the development of selected strategic industries in Malaysia with the
aim of pursuing the nation’s long-term economic interests. Khazanah has
investments in over 50 major companies, both in Malaysia and abroad, and our
companies are involved in a broad spectrum of industries. Khazanah is also the
key agency mandated to drive shareholder value creation, efficiency gains and
enhance corporate governance in companies controlled by the government,
commonly known as Government-Linked Companies, or GLCs. I wanted to list all of the various
purposes, missions, and descriptions of Khazanah due to the pervasive nature of
this organization that touches so many aspects of economic development not only
in Malaysia but all around South East and South Asia.
I was able to visit Khazanah
Nasional in Penang and meet with the new Director of Khazanah Research and
Investment Strategy, Hamdan Abdul Majeed.
Hamdan is also a new Eisenhower Fellow and I am proud to call him my fellow
colleague. He and I had a great conversation, one of the best during the
Fellowship. Hamdan is in charge of the Think City initiative coming out of
Malaysia. The Think City model is a special project established by the Khazanah
Nasional to implement and manage the George Town Grants Programme. The Board of
Think City as been local subject experts and representatives from Khazanah
Nasional Bhd. It is led by the
Chairperson, Dr. Anwar, The main purpose of Think City is to drive urban
development in Malaysia.
As Director of the Think City intiative,
Hamdan proclaims that we should shift between competition between cities versus
competition between Countries.” Another
focus that Hamdan is proposing is that Cities should focus on attracting talent
as well as capital. When this happens
“cities, people, and economy, are what will position Penang and Malaysia, as a
destination and world developed place to be”.
Ultimately, broadband will be considered an important part of this
process, particularly mobile broadband, espoused Hamdan as well. In addition, most devices that will be
utilized will be niched to the user experiences versus the market dictating the
use of the devices. Website: http://www.thinkcity.com.my/
Ultimately, Think City, as
well as EF Mr. Majeed, have big plans to make Penang a technology and economic
development hub. With its inherent
ability to galvanize labor, be progressive in technology development, and understand the
delicate nuances of its role and place in the global economy, with Khazanah
behind this effort, I have no doubt that this idea will become a successful reality.
Thank you Hamdan. Look
forward to seeing you in Philadelphia in 2012!
Cheers!
B
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1 comments:
Khazanah.....Such an interesting governmental concept. B
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