Prime Minister Datuk Seri Najib Tun Razak who is also Chairman of Khazanah Nasional Berhad, Malaysias sovereign wealth fund, witnessing the presentation of “Global Award for Visionary Innovation Leadership” plague by Frost & Sullivan Chairman, David Frigstad to Khazanah Managing Director, Tan Sri Azman Mokhtar.
SAN FRANCISCO, Sept 23 (Bernama) — Khazanah Nasional Berhad, the strategic investment fund of the Government of Malaysia, has been conferred the Global Award for Visionary Innovation Leadership by Frost & Sullivan, the global business consulting firm, for the pioneering work that Khazanah has done to catalyse and propel the economy in Malaysia.
The pretigious award acknowledges Khazanah’s leadership role in transforming Government-Linked Companies (GLCs), expanding the Malaysia brand regionally and globally, and its visionary approach to economic development through Iskandar Malaysia.
The award was presented to Khazanah’s Managing Director, Tan Sri Azman Mokhtar by Chairman of Frost & Sullivan, David Frigstad and was witnessed by the Prime Minister Datuk Seri Najib Tun Razak, at the officiating ceremony of Khazanah Americas Incorporated office in San Francisco Sunday.
Among those present were Najib’s wife Datin Seri Rosmah Mansor; Communications and Multimedia Minister Datuk Seri Ahmad Shabery Cheek; Second Education Minister Datuk Seri Idris Jusoh; Science, Technology and Innovation Minister Datuk Dr Ewon Ebin; Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin, and Director, San Francisco Mayor’s Office of International Trade and Commerce Mark Chandler.
Met by reporters later, Frigstad said this was the first time that the firm had conferred such an award.
The firm, based in Mountain View, California, had done a two-year study before deciding to confer the award to Khazanah, he said.
He said the firm had made a comparison between Khazanah and other similar GLCs from all over the world, and were very impressed with Khazanah’s best practices in terms of satisfying the needs of its stakeholders, the citizens and investors.
“We hope the award would inspire other governments to put people first,” he said in an apparent reference to ‘People First. Performance Now’ policy implemented by the Malaysian government.
Frigstad also believed that Khazanah would come up with many more “big ideas” based on what they would learn from innovative companies in the Silicon Valley here.
Khazanah, entrusted to hold and manage commercial assets of the government and to undertake strategic investment, is involved in various sectors such as power, telecommunications, banking, healthcare, airport management, infrastructure, leisure and tourism, property development, broadcasting, investment holding, and technology.
As of May 29 this year, Khazanah’s overseas investments represents approximately nine per cent of its total investment portfolio of RM135.9 billion.
On a see-through basis, the percentage is bigger and represents approximately 35 per cent of Khazanah’s investment portfolio.
Najib, who is on a working visit to San Francisco and New York, from Sept 22 to 29, will chair the 3rd Global Science and Innovation Advisory Council (GSIAC) meeting here on Sept 23.
He will also chair the 7th BIO-International Advisory Panel meeting and visit Silicon Valley, which includes a tour of the headquarters of Twitter and Google.