s

8%

L
cation

cus on:
rformance
ar Malaysia.
2015

OLICY SUPPORT

ent mandate.
tinue in 2016.
several initiatives,

ue distribution
THE

REPORT 2014

ed to continue to
HASANAH

ucation, Technology &

RM96m CR

ch Institute (KRI) has

areas such as Economic

rade & Export Promotion.

s impact of trade policies,

ng boards of public service

anah continues to support
contribution in

cy formation through various

ility and public transportation.
based analysis and research on
omic development, focusing on

10 | 2015 IN REVIEW Key events Investee companies

Iskandar Investment Acquired 30%
Berhad capital stake in
Acquired property in restructuring Turkish power
Termination letters for MAS St.Kilda, Melbourne JV with leading completed company,
Completed acquisition of employees to move to MAB, Philippines telco Gama Enerji
100% stake in Sabiha Appointed Christoph and operationalisation of companies
Awarded LOA for Mueller as MD and CEO Corporate Development Acquired 73.4% of AS
Gken airport HSBB2 Centre Global Hospitals, JV with Minor Group
India announced to develop Acquired 75% Acquired 80%
Anantara resort in of Digicel stake in Nepal
CIMB-RHB-MBSB bank Acquired 51% of Myanmar mobile
merger negotiation Cikopo-Palimanan toll Desaru Coast
Continental Hospitals, Tower operator, Ncell
terminated road launched by MAB begins Company Ltd
India Indonesian President operations
Divested 2.0% stake Lease agreement to
(RM1.6bn) via Completed RM1.3bn Acquired 70% of RM20bn injection operate 350-bed Partnership Completion
market placement rights issuance Jimah East into ValueCap hospital in with Emirates of project
announced Chengdu, China
5 14 28 25 21 26 28 1 13 9 5 28 1 14 14 16 18 2 5 14 21 29
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
14 20 22 8 6 15 25 4 24 3 30 7 7-9 2426 14 28 4-5 5 23 3-5 16 18-22 21-22 20
Proactive
Malaysia Business The Khazanah economic
Luncheon at Davos Report 2014 RM3bn measures Budget 2016
06 | YAYASAN HASANAH ("YH") & 2015
CORPORATE RESPONSIBILITY ("CR")
r
YH established with a RM3bn endowment from Khazanah. The endowment is
positioned to provide approximately RM150m annual funding to YH for various

GLCT Programme Khazanah renews

initiatives in Education, Community Development, Environment, Arts, Heritage &
Culture and Knowledge
r
Khazanah Research Institute established for research and analysis on national level
issues

launched endowment & tabled

r
RM468m spent on YH and CR initiatives since 2006
r
RM20m committed for 2014 flood relief and disaster preparedness efforts
Selected partner organisations

announced Managing
07 | KNOWLEDGE DEVELOPMENT &
PUBLICATIONS
r
Continuous support for government policy formation and deepening of national
knowledge pool and linkages across global knowledge networks

Aviation Board of Trustees Graduation

r
Events include Annual Khazanah Megatrends Forum and Khazanah Global Lecture
by Boris Johnson, and publications include "The State of Households" published
by Khazanah Research Institute, The Khazanah Report 2013, 2013 Corporate
Responsibility Report and GLC Transformation Programme Progress Review 2014

Budget 2015 Review: by PM

For further information,
2013
CORPORATE
RESPONSIBILITY
visit our website at
REPORT
www.khazanah.com.my

Directors contract
BORIS
08 | 2015 OUTLOOK IN SUMMARY

Preemptive Commission Bill announced for

r
Continued steady progress in 2014 in spite of a challenging
year
r
Entering 2015 from a position of relative strength
r
Several milestones anticipated:
r
"Graduation" of the GLC Transformation programme
(2005-2015)
r
Launch of the 11th Malaysia Plan 11 TH KHAZANAH ANNUAL REVIEW
r
ASEAN Economic Community, with Malaysia as Chair of
ASEAN R e v i e w o f 2 0 1 4 & O u tl o o k f o r 2 0 1 5
r
Khazanah will continue to stay the course with enhanced
emphasis on:
JANUARY 2015 14 JANUARY 2015

economic measures passed by Dewan Yayasan Hasanah Tan Sri Dr. Mohd
r
Ongoing and sustained rollout of investment strategies
r
Institutionalisation This brochure is printed on environmentally friendly paper.
Please recycle and help save our planet.
r
Special focus in 2015 on innovation and inclusivity
announced Rakyat Irwan Serigar
appointed to Global Science and Pacific nations
11th Khazanah Special Innovation Advisory
PCG #28 THE
Khazanahs Board reached
Annual Review HASANAH
REPORT 2014
Economic Council meeting, agreement on TPP East Asia Summit
Committee New York meeting, negotiations
(SEC) New York ASEAN Summit
Announcement of Issuance of worlds Khazanah Europe established
new appointments first Ringgit- Investment Limited PCG #29 Making Housing
to Khazanahs Senior denominated SRI office established in Affordable report World Islamic Why Trade Matters
Leadership Team sukuk London published Economic Forum, KL report published
Khazanah announced
additional & accelerated
domestic investments of
RM6.77bn
JANUARY 2016
www.khazanah.com.my This brochure is printed on environmentally friendly paper. Please recycle and help save our planet.
13 JANUARY 2016
7 - 9 August 2015, Kuala Lumpur Convention Centre
Nation-Building, Touching Lives
Graduating to a Higher Class:
13
JAN

12 TH KHAZANAH ANNUAL REVIEW

Review of 2015 & Outlook for 2016
20
16
12th Khazanah
Annual Review

4. Strengthening of institutional integrity and governance

20

www.khazanah.com.my
JAN
WeLab

3. Holistic value creation in financial, economic and societal terms

JAN
investment in
Khazanah leads

13 JANUARY 2017
20-23
24

WEF Annual
JAN

Meeting 2016

2. Development of a high quality and resilient portfolio

Myanmar
Building a
in Yangon,
250-bed hospital

1. Long-term value creation

FEB

1
terminated
MBSB-Bank
negotiation

Review of 2016 & Outlook for 2017

MAR

Khazanah continues to drive:

Muamalat merger

USD750m
straight sukuk
1
MAR

Issuance of inaugural market environment is expected to continue in 2017

09 | 2016 IN REVIEW

13 TH KHAZANAH ANNUAL REVIEW

established
The Malaysian

A volatile, uncertain, complex and ambiguous global business and

10
MAR
50th Anniversary

Internal events
KMF Logo (Inverse white)
23

23
MAR

MAR

08 | 2017 OUTLOOK IN SUMMARY

in Bangalore

presented
KMF Logo (Black/Monochrome) KMF Logo (Full colour)

Committe (SEC)
Special Economic

Aviation Commission recommendations

Committee
12
Special Economic
KMF logo with the year
APR
completed
launched hospital Ncell Pte Ltd

APR
Apollo Hospitals Acquisition of

12-13
completed
30% stake

Investee companies
14
acquisition in

APR
Turkish GAMA Enerji

17
APR
Kidzania POLICY & ADVISORY SUPPORT
launched
Singapore

21
George Town Koridor Utara Project

APR
Cruyff Court Fort Cornwallis, Khazanah Taman Tugu

External events
Clinic in
Bulgaria
Hospital and
Acquired Tokuda
merger with City
development and livability enhancement
housing, capacity building, entrepreneurship
mainly in 4 focus areas namely affordable

20
MAY
Johor Bahru Kuala Lumpur

17
formed

MAY
Malaysia
Organisation (JARO), Think City,
development initiatives in Iskandar Malaysia

Aviation Group
Johor Area Rehabilitation RUANG by RM71m committed to ongoing social

The Khazanah
24
MAY
Minister
Transport
launched by

Report 2015 launched

KLIA Aeropolis

Investment Limited (KEIL)

the opening of Khazanah Europe

JANUARY 2017
Prime Minister of Malaysia officiates
8
JUN
Shanghai
hospital in
JV to build
PUBLIC SPACES INITIATIVES SOCIAL INCLUSION

Gala Dinner
30
SELECTED

JUN

10th Anniversary
Yayasan Khazanah
19
states to-date and 2016

AUG

published
to 83 schools in 10 trained over 2015

The State of
2016

Households II
new CEO
out, bringing total 5,160 graduates

29
Peter Bellew

AUG
appointed as
21 trust schools rolled RM89m spent and

4
SEP

the
15
SEP

Taman Tugu Project

Minister of Malaysia
launched by the Prime
2016

Board
Khazanah Scholarship programme

Abdul Ghani
appointed to
Datuk Johari
Scholarship for Malaysia and Chevening -
2 new scholarships launched in 2016 - Rhodes

23
SEP

sukuk

shares
114 awarded in 2016

USD399m
Issuance of

into Beijing
Group

exchangeable

Group Limited
649 scholarships awarded since 2006, of which

Enterprises Water
JV with China

30
SEP
Galaxy Securities

license received
Vietnam banking

26-27 14
SEP OCT
17
OCT

tabled
KNOWLEDGE DEVELOPMENT HUMAN CAPITAL DEVELOPMENT

Budget 2017
5

31
OCT
NOV
*Selected Hasanah Partners in 2016

30% stake

completed
Energy Ltd
2016

India-based GMR
73%
Education

11
(CSR) initiatives since 2006

Insurance
Group Inc.
Partnership
with Taikang
Corporate Social Responsibility

authorised
Khazanahs
17

Budget 2017
NOV NOV

comments on
merger
13% by Khazanah and Hasanah on

completed
Robi-Airtel
4%

acquisition in Bangladesh
Others 10% Knowledge more than spent

published
Public Spaces
RM900m

Socio-economic
2
provided to Hasanah and

Mobility in Malaysia
Climbing the Ladder:
DEC
Received
endowment

approval for
shareholders
acquisition of
RM3bn

Asia Integrated
Facility Solutions

6
DEC
Yayasan Hasanah (Hasanah).

17
in Malaysia and delivers high social impact in communities via

Iskandar
Khazanah adopts a long-term view in catalysing social progress

20
30
DEC
10-year Anniversary

Co. divested
Bank of Yingkou
07 | VALUE DISTRIBUTION & NATIONAL AGENDA

18% stake in the

 NWA B lco H UE oup B ab io rs NWA
iat he

3
3

3
CIM Alib

3
TN

3
3

3
3

3
3

3
3

3
Te IH

1
14 May
Gr Av Ot 31 Dec
2004 2016 a n
l U ou CIM lib
NWA B co H EM p B ab tio ers NWA
IH ia TN h

01 | PORTFOLIO PERFORMANCE 03 | PORTFOLIO SEGMENTATION

Te

06 | CATALYSING GROWTH & VALUE CREATION

GrTotal Shareholders
A 14 May
Av Ot Returns
31 Dec
40% 37.1%
2004 2016
(in local currency terms)
2016 Contribution (RM bn) EUROPE THAILAND
AGRIFOOD
1.5 (5.8)
LIFE SCIENCES CONSUMER SUSTAINABLE
(0.8) 0.4 0.6 0.3 (0.9) (2.3) JAPAN AFRICA CAMBODIA (incl UK) 0.7% EUROPE THAILAND
0.4% 0.6% 0.7% DEV. CASH LEISURE & 0.2% 0.2% 0.4% 30% 0.7% OTHERS (incl UK) 0.7%
PORTFOLIO AS AT RAV by major sectors
CREATIVE
AGRIFOOD 1.8%
1.3%
0.4%
LIFE SCIENCES
TOURISM CONSUMER
0.6%2.2% 0.7%
SUSTAINABLE
DEV. CASH LEISURE &
JAPAN AFRICA CAMBODIA
0.9% 0.2%
0.2% 0.4%
24.2%
0.7% OTHERS PROGRESS IN SELECTED CATALYTIC INVESTMENTS (CIs)
(RM bn) 14 May 04 31 Dec 15 31 Dec 161 2015-16 2004-16 0.3%
EDUCATION 13.9
5.4 4.0 CREATIVE
101.9 0.3% OTHERS
1.3% 1.8% TOURISM
2.2% 20% 18.9%
MIDDLE BANGLADESH
EAST
15.9% 1.2%
0.9%
MIDDLE BANGLADESH
1.1%

Contribution (RM bn)

0.0% (8.2) 2.7% NORTH EAST 1.2%
17.8 (1.7) EDUCATION
0.0%
OTHERS
2.7% 9.6%
AMERICA 1.1% SELECTED ACHIEVEMENTS
NORTH
IN ISKANDAR MALAYSIA (2006-2016)
Realisable Asset 50.9 150.2 145.1 -RM5.1bn +RM94.2bn MEDIA & COMMS
18.3 17.8% MEDIA & COMMS
INNOVATION &
TECHNOLOGY
10% 6.8% 1.3%
SRI LANKA
AMERICA
1.3%
INNOVATION &
Value2 (RAV) CAGR
390 4 (-3.4%) (2.8x or 8.6% p.a.4) 17.8%
4.0% MALAYSIA TECHNOLOGY
4.0% 0%
1.3% MAS SRI LANKA
1.3% Total cumulative
390 CAGR
(p.a.)4 19.1 INFRASTRUCTURE
+RM49bn
54.9% TMMALAYSIA
Axiata CIMB TNB PHILIPPINES
MAHB UEM
Sunrise
Net Worth Adjusted
K-7 Index
3
(p.a.)
11.1%
33.3 108.9 101.9 -RM7.0bn +RM68.6bn HEALTHCARE
33.3 16.2%
2004 & CONSTRUCTION
2004
304.0%
30 (+164%)
INFRASTRUCTURE
+RM49bn & CONSTRUCTION -10%
54.9%INDONESIA 1.4%
Demerger and streamlining of
4.6%
Demerger and streamlining of
INDIA INDONESIA
PHILIPPINES
1.4%
investments of RM218.8bn
340 PROPERTY
HEALTHCARE (+164%) 4.0% 4.6% (2006 - Sep 2016)
340(NWA) (-6.4%) (3.1x or 9.3% p.a.4) focus; regional growth strategy
K-7 Index 4.6% INDIA
Index 11.1% TRANSPORTATION TURKEY
G20 10.5% G20 11.0%2013
16.2% 79 PROPERTY 6.5% 4.6%
G20 30 G20
& LOGISTICS
2013 5.8% 79
11.0% TRANSPORTATION
CHINA focus; regional growth strategyTURKEY
(15.6%)
FBMIndex
KLCI 10.5%
10.8% 30 K-7 26.1 26.3 26.2 POWER FIG & LOGISTICS SINGAPORE
-20%
7.0% CHINA
6.5%
RAV/Liabilities
290 FBM KLCI 10.8% 2.9 3.1 2.9 K-7 26.1 26.3 26.2
24.0 15.7%
a n
15.3% POWER
15.7%
FIG
15.3%
+RM46bn
5.8% 13.0% SINGAPORE
13.0%
7.0%
Leisure and Tourism EduCity
25 NWA B co H EM p B ab tio ers NWA
2004 12
290("RAV Cover") [x]
l
TN Te IH U ou CIM b ia h
24.0 14 May
RAV by domicile of companies Gr Ali Av Ot 31 Dec
2016 (+374%)
+RM46bn RAV by geographic exposure 5
25 20.6
2004
2004 12 (+374%) Regional leadership
19.2
Shareholders Funds
240 7.7 36.4 37.1
20 +RM0.7bn
19.2 17.1+RM29.4bn
20.6 59 2013
EUROPE THAILAND Regional leadership
AGRIFOOD TURKEY MIDDLE
LIFE SCIENCES CONSUMER EAST PHILIPPINES INDIA 2013
SUSTAINABLE 59 JAPANINDIAAFRICA CAMBODIA (incl UK) 0.7%
240 20
(+1.9%) (4.8x or 13.3% p.a. )
14.5 17.1 4 0.4% 0.6%
INDONESIA 1.0%
0.7% 1.1%
DEV. CASH
1.4% LEISURE
1.7% & TURKEY
1.0%
MIDDLE
1.1%
EAST PHILIPPINES
1.4% 0.2% 0.2% 0.4% 0.7% OTHERS
1.7%
15 13.2 13.5 12.7 13.1 CREATIVE 0.3% 1.3% 1.8% INDONESIA
TOURISM
+RM37bn 0.9%
190 11.4 14.5
11.8 0.3% 0.3%
2.2%
2004
OTHERS 28 MIDDLE BANGLADESH
15 9.9 10.5 10.4 10.1 13.2 13.5 12.7 13.1 2.5% (+133%) OTHERS
+RM37bn EAST
EDUCATION OTHERS 1.2%
Industry reforms
3 9.97.0 10.5 11.4 7.511.8 10.4 10.1
2.5%
190
RAV2 NWA RAV Cover 2.7% 2004 28
10 0.0% 1.1%
SINGAPORE
2013 64 (+133%)
SINGAPORE NORTH
100=14/5/04 10 5.2
6.3 6.3 6.3% 6.3% AMERICA
1.3%
Industry reforms
140 (RM bn) (RM bn)5 7.0 6.3
7.5
(times)
MEDIA & COMMS INNOVATION
2013& 64
2.7 6.3 17.8% CHINA TECHNOLOGY SRI LANKA
Other catalytic projects
140
100=14/5/04 5.2 6.4% 4.0% CHINA
MALAYSIA 1.3%

145.1 101.9 2.9

5 2 +RM10bn 6.4%
2.7 2004
INFRASTRUCTURE 54.9%
(+600%)
PHILIPPINES Financial restructuring and
90 & CONSTRUCTION
+RM10bn
INDONESIA 1.4%
May May May May May May May May May May May May HEALTHCARE 4.0%
2013 2004 2
4.6%
90 04 05 06 07 08 09 10 11 12 13 14 15
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015E 16.2% PROPERTY 11 (+600%) INDIA carefulFinancial
regional expansion
restructuring and
TRANSPORTATION TURKEY 4.6%
May May May May May May May May May May May May MALAYSIA 11.0% MALAYSIA
04 05 06 07 08 09 10 11 12 13 14 15
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015E 79.1% FIG
& LOGISTICS
5.8%2013
79.1%
11
SINGAPORE
CHINA
6.5%
careful regional expansion
POWER
RAV (RM bn) NWA (RM bn) 15.7% 15.3% +RM9bn 13.0%
2008 1
7.0%

120 (+782%) Collaboration with private sector

160 (RM bn)
RAV +RM94.2bn NWA (RM bn) +RM68.6bn
04 | INVESTMENTS & DIVESTMENTS
+RM9bn and focus on Iskandarwith
Malaysia
(2.8x or 8.6% p.a.4) (3.1x or 9.3% p.a.4) 2013 2008 1 11 (+782%) Collaboration private sector
160 +RM94.2bn 120 +RM68.6bn
145.1

(2.8x or 8.6% p.a.4) (3.1x or 9.3% p.a.4) TURKEY MIDDLE EAST PHILIPPINES INDIA 2013 11 and focus on Iskandar Malaysia
INVESTMENTS DIVESTMENTS

101.9
1.0% 1.1% 1.4% 1.7%
120 INDONESIA MILESTONES ACHIEVED IN SELECTED CIs
145.1

0.3%
80 No. of OTHERS Amount
2004 6No. of Challenging
Proceeds Gainsglobal operating
on Divestments

101.9
120 transactions6 2.5% (RM bn) transactions
-RM1bn (RMenvironment
bn) (RM bn)
SINGAPORE2013 2004 5 (-12%) 6 Challenging global operating
80 2004-2015 144 6.3%
74.7 77 48.1 22.3
80 -RM1bn environment
2013 5
2016 17 CHINA
6.4%
6.9 13 (-12%) 4.7 2.6
80 40 TOTAL 161 81.6 90 52.8 24.9
40
50.9

Completion of The Els Club Desaru Coast Completion of 21 trust schools rolled
33.3

40 Launch of Kidzania Singapore corporate exercise out, bringing total to

MALAYSIA SELECTED TRANSACTIONS
40
50.9

79.1% 83 schools
33.3

0 0 New Investments Harvesting Value Created

31 04

31 06

31 07

8
31 09

31 10
31 11

31 13
31 14

31 15

31 07

31 08

31 0

31 11

31 13

31 14

6
31 y 04

4
c1

c1
c0
c0

y0

c0

c1
c1

c0

c1
c0

c1
c0

c
c

c
c

c
c
c
c

c
c

c
De

De
De

De
De

De
De

De

De
De

De
De

De
De
De

De
De

De

De
De

De

De
Ma

De

Ma

De
De

De

0 0
31

31

31
31
31

SELECTED KEY INITIATIVES

31

31
31

31
31
14

14
31 04

31 06

31 07
31 08

31 09

31 10
31 11

31 13
31 14

6
31 y 04

c1
c0
c1

c1

c1
c0

c1
c0

c1

y0

c0

c1
c1

c0

c1
c1
c0
c0
c

c
c
c
c

c
c

De

De

Total Shareholders Returns

De

De
De

De
De

De

DECOMPOSITION OF
De

PORTFOLIO NWA AGAINST

De

De
De

De
De

Games40%
De

De
De

De
De

De
De

De
Ma

De

Ma

De
De

De

publishing Data Online luxury 37.1% NATIONAL PROJECTS RESTRUCTURING

31

31
31

31

31

31

31
31

31
31
31

31
31

31

31
31
14

14

2016 Contribution (RM bn) (in local currency terms)

PORTFOLIO NWA MOVEMENT FBMKLCI SINCE MAY 2004 platform analytics fashion marketplace Placement of Placement of Placement of
1.5 (5.8) (0.8) 0.4 0.6 0.3 (0.9) (2.3) Total Shareholders Returns 30%40%
1.60% stake
37.1% 1.45% stake 2.45% stake
2016 Contribution (RM bn) Index (in local currency terms) 24.2%
400 Runway to Success 2020 Broadband Improvement Launch of Taman Tugu Formation of Malaysia Aviation
1.5 (5.8) (0.8) 0.4 0.65.4 4.0
0.3 (0.9) (2.3) Khazanah NWA Augmented
20%30% 18.9%
reality and Asian renal
13.9 101.9 15.9% (RtS2020) business plan Plan 2017 Project by the Prime Group
visual discovery healthcare platform 24.2% Fully divested Fully divested
Contribution (RM bn)

(8.2) FBMKLCI Minister of Malaysia Appointment of Peter Bellew as

17.8 4.0 (1.7) Launch of KLIA Aeropolis Launch of webe, a digital
5.4 18.9% 9.6% new CEO
13.9 10% 20% 6.8% Funding mobility service provider
101.9 300 15.9% Malaysia Aviation Commission
Contribution (RM bn)

18.3 (8.2)
17.8 (1.7) MAS 5-year USD399m sukuk established
0% 10% 9.6%
5-year USD750m exchangeable into Beijing
19.1 TM Axiata6.8%
CIMB TNB MAHB UEM
Technology services and Technology-based Sunrise straight sukuk Enterprises Water Group
18.3 200 INTERNATIONAL PRESENCE
consulting company logistics company MAS Limited shares
33.3 -10% 0%
19.1 TM Axiata CIMB TNB MAHB UEM
Sunrise
(15.6%)
33.3 100 05 | KHAZANAH-LINKED COMPANIES' PERFORMANCE
-20%
-10% London,
2015
NWA M a ion hers NWA Total Shareholders Return Since May 2004 CANADA
CANADA
B lco H UE oup B ab iat
14 May TN Te IH
Gr CIM Alib Av Ot 31 Dec (15.6%) Istanbul,
2004 2016 -20% EUROPE 2013
San Francisco,
0 2013 Beijing,
NWA H UEM up IMB ibaba iatio
n rs NWA EUROPE THAILAND USA 2008
lco
JAPAN AFRICA CAMBODIA (incl TSR
UK) (p.a.) 15.7%7 1.1%7 8.2% 9.6% 15.2% 11.3% 20.6%8
TURKEY
B he 0.7%
4

31 07

31 0

31 11

31 14

31 15

6
4

TN IH
Te SCIENCES
c1

c1
c0
y0

c0

Ot
c0

c1
c1
c0

31 Dec
c0

AGRIFOOD
14 May LIFE Gro CONSUMER
C Al SUSTAINABLE
Av
c

c
c

De

De

De

De

De

De
De

CHINA
De
De

De

De
Ma

De
De

2004 2016 CASH LEISURE &

0.4% 0.6% 0.7% DEV. 0.2% 0.2% 0.4% 0.7% OTHERS MIDDLE EAST
INDIA & JAPAN &
31

31
31
31
31

31

Holding period
31

31
14

INDIAN SUBCONTINENT KOREA

1.3% 1.8% TOURISM 0.9%529.9%7 9.7%7 170.1% 217.0% 497.3% 138.2% 130.1%8
CREATIVE Khazanah offices
0.3% 2.2% return ("HPR")
THAILAND
02 | FINANCIAL PERFORMANCE
Mumbai,
EUROPE MIDDLE BANGLADESH AFRICA
AGRIFOOD
EDUCATION LIFE SCIENCES CONSUMER SUSTAINABLE
OTHERS JAPAN AFRICA CAMBODIA (incl UK) 0.7%EAST 1.2%
2008

0.4%0.0% 0.6% 0.7% DEV. CASH LEISURE

2.7% & 0.2% 0.2% 0.4% 0.7% 1.1%OTHERSNORTH Selected International Milestones Investee companies
Kuala
Lumpur, SOUTHEAST

FINANCIAL 1.3% m) 1.8% TOURISM 1994

CREATIVE STATEMENTS HIGHLIGHTS (RM 0.9%AMERICA Building a 250-bed hospital in Yangon, ASIA

0.3% MEDIA & COMMS 2.2%

INNOVATION & Acquired Nepalese Ncell Pte Ltd
MIDDLE 1.3% Myanmar
BANGLADESH Khazanah coverage since:
Financial 04
Year 17.8%
EDUCATION 05 06 07 08 09 10 OTHERS11
TECHNOLOGY 12 13 14 15 161 Cumulative Merger of Robi-Airtel
EAST SRI LANKA1.2% in Bangladesh Opening of hospital in Bangalore
0.0% 2.7%4.0% MALAYSIA 1.1% 1.3% NORTH Joint venture to build hospital in Shanghai 2004 2009 AUSTRALIA
Profit/(Loss)
282 (831) 1,014 5,110 127 791 2,081 5,342 2,077 3,128
INFRASTRUCTURE 3,217 54.9%
1,181 1,561 25,080 AcquiredPHILIPPINES
30% AMERICA
stake in Turkish Gama Acquired Tokuda Hospital and merger with
Before Tax & CONSTRUCTION INDONESIA 1.4% 2005 2012
MEDIA & COMMS INNOVATION & 1.3%
HEALTHCARE
Dividends 4.0% 4.6%Enerji SRI LANKA City Clinic in Bulgaria
16.2% 17.8%30 30 100 1,000 100
PROPERTY 100 500 TECHNOLOGY
3,0004.0%
1,000 650 900 1,050 650 9,110 INDIA
Acquired 30% stake in Indias GMR Partnership with Taikang Insurance Group 2008 2015
Declared 1.3%
11.0% TRANSPORTATION MALAYSIA TURKEY Energy 4.6% Inc.
& LOGISTICS 54.9%123 6.5% PHILIPPINES
Taxation 73 126 224 195 350 (25) 28INFRASTRUCTURE
66
5.8% 188 (53) 129 126 1,550 CHINA 2009
POWER FIG & CONSTRUCTION SINGAPORE 7.0% INDONESIA 1.4% Received Vietnam banking license
HEALTHCARE
Shareholders 15.3% 4.0% 13.0% Received
4.6% shareholders approval for the
16.2% 13,20215.7%
12,244 13,041 17,866 17,139 17,638 21,409 25,625 26,980 29,387 35,339 36,353 37,075
PROPERTY acquisition ofINDIA
Asia Integrated Facility Joint venture with China Galaxy Securities Selected Investments in Technology Companies
Funds TURKEY 4.6% management
11.0% TRANSPORTATION Solutions, facilities Group to set up stockbroking business
& LOGISTICS 6.5%
5.8% CHINA company in Singapore Divested 18% stake in the Bank of Yingkou
POWER FIG SINGAPORE 7.0% Co.
1. Based on unaudited numbers as at 31 December 2016 13.0%
15.7%TURKEY MIDDLE 15.3%PHILIPPINES
EAST
2. RAV: Market value of all equities, securities and cash held. INDIA
Where no market price is available, a conservative estimate 5. An estimate of attributable value according to the countries where investee companies have operations
of valueINDONESIA
is used 1.0% 1.1% 1.4% 1.7% 6. Number of discrete new investments
3. NWA: RAV less0.3%Total Liabilities and adjusted to measure value created 7. Based on demerger reference price
4. Compounded Annual Growth Rate OTHERS 8. Since its Initial Public Offering
Source: Bloomberg; Khazanah analysis
2.5% Source: Bloomberg; Khazanah analysis Source: Khazanah analysis
TURKEY MIDDLE EAST PHILIPPINESSINGAPORE INDIA