July 26, 2018 / 1:21 AM / a month ago

Malaysia sovereign wealth fund Khazanah says MD, board offer to resign

KUALA LUMPUR, July 26 (Reuters) - The managing director and board members of Malaysia’s $39 billion sovereign wealth fund Khazanah Nasional Bhd have offered to resign, the firm said in a statement on Thursday.

“This is done in order to facilitate a smooth and orderly transition under the new Government,” Khazanah said in a statement.

Khazanah Managing Director Azman Mokhtar, whose term expires in the first half of next year, has hinted before that he may not seek an extension of his contract.

Azman has led the fund for 14 years. (Reporting by Liz Lee and Anshuman Daga; Writing by Praveen Menon; Editing by Muralikumar Anantharaman)

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