Murray Hunter
Why are GLCs selling off overseas assets secretly?
In the spirit of Steadyaku47
Jul 05, 2025
A little bird (a couple actually) has told me that an order had been given at Khazanah (Malaysia’s sovereign investment fund) to sell off overseas assets and quickly repatriate funds back to Malaysia.
The reasons given was to bring back in foreign exchange to support the Ringgit and ensure Khazanah pays a high dividend to help keep down the budget deficit, and make it look like public debt is not increasing at the rates it was 2020-2022.
This is partly why the Ringgit has improved from 4.70 to USD a year ago, to 4.22 to the USD today. Looks like great economic management until you see the smoke and mirrors behind it.
That sort of explains why MAHB was sold at the fire sale price. The sale just didn’t make sense.
Well, Madani is selling off Malaysian investments abroad to manage the Ringgit and lower the deficit. Not very sustainable, but people won’t realise what really happened until well after Madani is gone.
Years of Malaysian investments made abroad, just like Singapore’s Temasek Holdings has long been doing to build up Singapore’s wealth is being undone in Malaysia for short term gain.
Enough said.
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