Malaysia’s Khazanah appoints Amirul as managing director

Malaysia ringgit notesMalaysia ringgit notes

Malaysian sovereign wealth fund Khazanah Nasional has appointed Amirul Feisal Wan Zahir as its new managing director, effective 16 July, the fund said in a press release posted on its website Tuesday.

Amirul Feisal, age 51, was group chief financial officer at Malayan Banking (Maybank) from 2016 after joining the bank in 2014 as head of global banking, the statement said. Media reports said he resigned from Maybank on Monday.

Shahril Ridzuan, Khazanah’s previous managing director, is departing to pursue personal interests upon the expiry of his contract with the fund, the statement said.

“The board of directors would like to welcome Dato’ Amirul and is confident that with his expertise and experience, Khazanah will progress further in delivering on its mandate,” the statement said. “The board thanks Datuk Shahril for his service and contribution throughout his tenure as managing director, particularly for his leadership in successfully implementing a strategy that has made Khazanah more resilient and capable of navigating challenges posed by the pandemic.”

In its annual review published in March, Khazanah said it posted a nearly 3 billion ringgit profit during a challenging pandemic-buffeted year.

Khazanah said its profit from operations fell to 2.9 billion ringgit in 2020 from 7.4 billion ringgit in 2019, but dividend income increased to 5.2 billion ringgit from 3.8 billion ringgit. It declared a dividend of 2.0 billion ringgit to the government of Malaysia.