Managing Director Amirul Feisal Wan Zahir said in an interview that Khazanah will be "a bit more active to create value" and leverage its position as a government investment arm to assist its portfolio firms with any issues in regulated industries abroad.

Amirul said he would not discount the possibility of more mergers and acquisitions but did not share specifics.

He also said the fund may reconstitute assets that were previously split into strategic and commercial baskets, as all investments including those with strategic importance should deliver commercial returns over time.

Amirul told the weekly that the fund's overall mandate has not changed much, though its focus may have differed over various phases of development.

Khazanah had in 2019 split its portfolio into commercial and strategic holdings, as part of preparations to cut stakes in some large firms to improve returns under a new strategy.

(Reporting by Liz Lee; Editing by Jacqueline Wong)