Khazanah Nasional Bhd, Malaysia’s sovereign wealth fund, reported a 4% increase in net asset value (NAV) to MYR84.8bn (USD18bn) in 2023, with profits tripling due to improved market conditions. Profits surged to MYR5.9bn from MYR1.6bn the previous year, reflecting a robust recovery and marking the end of a challenging five-year period. The recovery was attributed to higher dividends from investor companies and fair value gains. Consequently, Khazanah doubled its dividend to the government to MYR1bn. Despite ongoing global volatility, Managing Director Amirul Feisal Wan Zahir emphasised the fund’s resilience and focus on enhancing Malaysia’s connectivity, energy transition, digitalisation, and economic competitiveness. Khazanah’s realisable asset value stood at MYR126.2bn as of the end of December.