“State X Markets – getting the best of both worlds: A Sovereign Development Fund’s perspective” Talk by Tan Sri Azman Hj. Mokhtar
Friday 1st March 2-4pm room S3 Alison Richards Building
Tan Sri Azman Mokhtar was the Managing Director of Khazanah Nasional Berhad (“Khazanah”), Malaysia’s strategic investment fund from June 2004 to July 2018. During the 14-year period, Khazanah established itself as a leading sovereign fund in the region as its net portfolio value rose 3.5x from RM33.3bn in 2004 to RM115.6bn at the end of 2017, an increase of RM82.3bn or a compounded rate of 9.6% p.a. over the period.
He is currently a Distinguished Visiting Fellow at the Centre of Development Studies, University of Cambridge, a Bye-Fellow of Darwin College, University of Cambridge, and an Adjunct Professor at Universiti Teknologi Malaysia.
During his tenure as the CEO of Khazanah, Azman, among others, spearheaded the GLC (Government-Linked Companies) 10-Year Transformation Program from 2005 to 2015, the development of the Iskandar Malaysia special economic development zone, the internationalization of Khazanah and its companies into China, India, South East Asia, Turkey, Middle East and Europe and North America, and investing into new growth sectors, notably in financial services, telecommunications, infrastructure, healthcare and technology.
Azman also founded, chaired and served on various boards of companies and national public interest bodies, including Axiata Group Berhad and Iskandar Investment Berhad. He also drove the creation of IHH Heathcare Bhd, which is today, one of the largest listed hospital healthcare groups in the world. Prior to Khazanah, he co-founded a boutique financial advisory, BinaFikir Sdn Bhd, and prior to that was the Head of Research at Union Bank of Switzerland (“UBS”), Malaysia and Salomon Smith Barney, Malaysia. He started his career at Malaysia’s national utility, Tenaga Nasional Berhad.
In addition to its core work of investing and portfolio management, Khazanah is recognized as a leading proponent of, inter alia, Impact and Responsible Investing, Corporate Governance, Islamic and Sustainable Finance, Human Capital Development, and Corporate Social Responsibility by implementing a holistic framework of “Building True Value” from a financial, economic and societal value creation standpoint.
In this regard, during his tenure, Azman founded several notable institutions and practices, including Yayasan Hasanah, Yayasan Khazanah, Khazanah Research Institute, the Khazanah Megatrends Forum, the Trust School Program, Kembara Khazanah, Think City, Amanah Warisan Negara and Taman Tugu Park.
Azman obtained a M. Phil in Development Studies (with distinction) from Darwin College, Cambridge University, as a Chevening scholar, and a Diploma in Islamic Studies from International Islamic University Malaysia. In 2018, he was conferred an Honorary Doctor of Letters from Wawasan Open University, Malaysia. He is also a CFA Charter Holder and a Fellow of the Association of Chartered and Certified Accountants (ACCA).
Among the professional accolades accorded were Chairman of the Year in Malaysia (by MSWG-ASEAN Corporate Governance in 2017), Value Creator for Outstanding CEO of Malaysia (by The Edge in 2016) and Most Outstanding Individual for contributions to Islamic Finance (by KLIFF in 2011).
From 2016 to 2018, he was selected by the World Economic Forum (Davos) to the Board of Stewards for the Future of Economic Progress and the Board of Stewards for the ASEAN Regional Strategy Group. In 2011, he was selected by the World Economic Forum to the Global Agenda Council on the Role of Business. From 2005 to 2018, he was a member and former trustee of the Asia Business Council. For his services to the nation, Azman was awarded the Panglima Setia Mahkota (P.S.M.) medal by the King of Malaysia in 2008 which carries the honorary title “Tan Sri”, and the titles “Dato” (2004) and “Datuk Wira” (2017) by the states of Pahang and Melaka respectively.
Born in 1961, he makes home in Kajang, Malaysia, with Mastura Abdul Rahman, and together, they have five children.