Khazanah studying impact of Trans-Pacific trade pact

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Source: The Malaysian Insider

Khazanah managing director Tan Sri Azman Mokhtar says the investment firm is studying the impact of the Pacific trade deal will have on its business. – The Malaysian Insider filepic, November 12, 2015.

Khazanah Nasional Berhad said it is in the midst of studying the impact of the Trans-Pacific Partnership (TPP) on the sovereign wealth fund and its investments.

“We are still studying it (the TPP). In fact, our research team (Khazanah Research Institute) will be publishing a report on ‘Why Trade Matters’ to analyse free trade agreements,” Khazanah managing director Tan Sri Azman Mokhtar told reporters in Kuala Lumpur today.

Business and trade bodies have urged the government to explain transparently, all pros and cons, risks and opportunities to all stakeholders, before the TPP agreement is signed.

Azman is a speaker at this year’s lecture, joining a list of luminaries that have spoken at the event, including Datuk Seri Idris Jala, Tan Sri Ahmad Sarji Abdul Hamid and Tun Ismail Mohamed Ali.

On Khazanah’s stance towards the merger of Bank Muamalat Malaysia Berhad and Malaysia Building Society Berhad (MBSB), Azman said Bank Muamalat was part of Khazanah’s non-core investment.

“Our main holding (in bank) is CIMB (Group Holdings Berhad). Bank Muamalat is a spillover from our investments.”

Khazanah holds a 30% stake in Bank Muamalat, while the majority stake is in the hands of DRB-Hicom Berhad.

It has been rumoured that Khazanah is looking to dispose of its stake in Bank Muamalat, though pricing is the sticking point.

Azman said majority owner DRB-Hicom would lead the negotiation talks on the merger and that Khazanah would make a decision on its investment, once the negotiation ends.

He declined to comment on reports that Malaysia Airlines Berhad will undergo a massive rebranding exercise, including a possible name change, saying matters related to the national airline is best referred to its new chief executive officer, Christoph Mueller. – The Edge Markets, November 12, 2015.