This was a drop from RM2 billion declared in the previous financial year.
This is despite the fact that it had turned in a higher profit of RM1.6 billion from its operations in FY22, compared with RM670 million the year before, it said in its annual review which was unveiled today.
Khazanah attributed the better operational performance to its monetisation activities and lower impairments of its portfolio.
Khazanah said that at the group level, the debt rose marginally to RM49.1 billion compared with RM48.5 billion in 2021.
However, its realisable asset value (RAV) over debt ratio stayed at a healthy 2.7 times (2.7x), on track to achieving long term targets of 3.0x to 4.0x.
However, net asset value (NAV) reported a decline of 5% to RM81 billion from RM86 billion in 2021 because of the global market downtrend.
The sovereign wealth fund said its focus is on building long-term financial returns and to continue on its portfolio rebalancing in its target strategic asset allocation (SAA), with deployments into public and private equities as well as real assets.
“A sum of RM6.6 billion was put into new investments and RM2.5 billion was raised from the monetisation of assets,” it said.
Khazanah said it continued to stay the course in creating and capturing value, and by catalysing on selected investments and the execution of value creation plans for its Malaysian assets.
For instance, it said, the 2022 listing of Farm Fresh Bhd (FFB) has not only created wealth “but also delivered nutrition to Malaysian consumers at a competitive price”.
The sovereign wealth fund also struck a strategic partnership with SK Eco Plant Co Ltd of South Korea to accelerate Cenviro Sdn Bhd’s growth into a regional waste management champion.
Among other successes in 2022 is the Celcom-Digi merger which, Khazanah said, would generate scale to deliver innovative products and services and enhance digital connectivity.
Khazanah managing director Amirul Feisal Wan Zahir said despite the challenging global market conditions, the group delivered a satisfactory performance anchored by refreshed strategy and approach under the “Advancing Malaysia” theme.
“Our nation building mandate of delivering long-term sustainable value remains unchanged and we will ride through the short-term market volatility and remain focused on our long term-goals,” he added.
In anticipation of another challenging year, the group said it will remain vigilant in its investing activities with the aim of maintaining portfolio resilience through diversification.
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