Khazanah contributes RM20 mil to Covid-19 fight

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KUALA LUMPUR (April 6): Malaysia sovereign wealth fund Khazanah Nasional Bhd said today that it is contributing RM20 million to support relief efforts in response to the Covid-19 pandemic.

In a statement, Khazanah said the contribution will be channeled through the government-linked companies (GLC) and government-linked investment companies (GLIC) disaster response network (GDRN), which is currently coordinating GLC and GLIC assistance to the Ministry of Health (MoH) and other groups in urgent need. 

Khazanah said the GDRN is managed by a joint-secretariat led by Khazanah foundation Yayasan Hasanah and Telekom Malaysia Bhd.

"GLICs, GLCs and other private sector entities have contributed a total of RM51.5 million through the GDRN to-date, excluding the RM20 million contribution from Khazanah. The funds are being used to support MoH in the purchase of medical supplies, as well as for various humanitarian aid and assistance.

"A total of 28 organisations comprising GLICs, GLCs and private sector entities have contributed to the GDRN. Of the RM51.5 million in total contributions so far, RM42.6 million has been allocated to the purchase of medical supplies in support of MoH, while RM8.9 million has been spent on various humanitarian aid and assistance,” Khazanah said.

Prime Minister Tan Sri Muhyiddin Yassin, who is also Khazanah chairman, said in the statement that he has urged GLICs and GLCs to play a more proactive role and become an example for other companies and industries to follow, by undertaking their corporate and social responsibility to help the Rakyat in facing difficulties posed by the Covid-19 pandemic.

"Their contributions are part of the collective national effort to address the impact of the pandemic and aid those who are in need,” Muhyiddin said.

According to Khazanah’s statement, besides the RM20 million contribution, Khazanah employees are also contributing individually through an internal donation drive to support Covid-19 response and relief efforts undertaken by MERCY Malaysia and the Malaysian Relief Agency. 

Khazanah said contributions are made via voluntary salary deductions and direct individual donations to the agencies concerned.

Khazanah managing director Datuk Shahril Ridza Ridzuan said in the statement : "Many of us are already contributing a portion of our monthly salaries to this fight and I encourage everyone to do so, if they are able to afford it.”

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