KUALA LUMPUR (Oct 7): Khazanah Nasional Bhd managing director Datuk Shahril Ridza Redzuan said today Malaysia's sovereign wealth fund plans to reduce its debt to RM35 billion within the next three to five years.

"We plan to reduce (Khazanah's debt) to RM35 billion within the next three to five years," Shahril told reporters at the Khazanah Megatrends Forum 2019 here today.

Shahril said this to reporters after Economic Affairs Minister Datuk Seri Mohamed Azmin Ali indicated at the event today that Khazanah is identifying assets for sale as it aims to reduce debt to between RM35 billion and RM40 billion as soon as possible.

theedgemarkets.com, quoting Azmin, who is also a board member of Khazanah, as saying the fund's asset sale is not something unusual. He said Khazanah needs to make strategic considerations based on market condition to create value for its assets.