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Wednesday March 31, 2010

Khazanah: NEM’s first part a realistic outline


KHAZANAH Nasional Bhd believes the first part of the New Economic Model (NEM) is above all else an honest diagnosis, a bold prescription and a realistic outline of an implementation framework.

In a statement, managing director Tan Sri Azman Mokhtar said most importantly, from hereon, there were two necessary conditions for success, both of which the Prime Minister was well aware of.

“First is the ability to implement effectively. Second, the need to secure sufficient support and buy-in from the rakyat. Both have, to an extent, been addressed,” he said.

Azman added that Khazanah, its companies and the various programmes that it was driving would intensify their efforts further and consolidate under five thematic areas in support of the NEM.

“First, the ongoing work of organic improvements under the 10-year Government-linked company (GLC) Transformation Programme. Second, the ongoing drive of GLCs to become regional champions. Third, the development of investments in new economy and knowledge-based sectors.

“Fourth, the development of further collaboration and co-investment combinations between GLCs and non-GLCs, both at home and abroad. And finally, continuing on the path of gradual and orderly divestments of non-core and non-competitive holdings,” he said.

Azman said that on its own and taken as a whole, each of these would contribute significantly to catalyse the structural transformation of the economy as demanded by NEM.

He said Khazanah looked forward to being able to play its part effectively on this journey.

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