While CSR is good, Khazanah should strengthen ...
FocusM | 17 May 2019 00:30
DONATING to a charitable cause is always noble. So it was welcome news in 2015 when national sovereign fund Khazanah Nasional Bhd provided its foundation Yayasan Hasanah with a huge RM3 bil endowment. The money was to be invested to provide a targeted return of RM150 mil in annual funding for the foundation.
Khazanah handles these investments, guaranteeing a minimum of 5% returns with capital protection. But given the current tough market conditions, there is no guarantee Khazanah, which is owned by the Ministry of Finance, will be able to meet the targeted 5% returns.
Yayasan Hasanah has reached out to more than 300,000 beneficiaries in Malaysia by providing grants and support to 40 partner organisations and 52 projects. The RM3 bil endowment is possibly the largest allocation in the country for a corporate social responsibility (CSR) initiative using taxpayers’ funds.
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