Tan Sri Azman stressed that the notion of ‘idea’ has been embedded into the title of his talk as he is more concerned with the ‘why’ rather than the ‘what’ and the ‘how’. The core of Khazanah’s efforts is to build true value for Malaysia, achieved through three major initiatives, namely, investment returns, strategic returns, and societal returns.
Khazanah continues to remain strong by focusing on twelve ideas which underpins the building of true value. The twelve ideas shaping Khazanah are:
1) Performance - focus, transformation and execution
2) Khazanah as Macro-Manager, and GLS as Micro-Manger
3) Sovereign Development Fund and Sovereign Wealth Fund
4) Sensible, Real and Islamic Finance
5) Cities and Economic Density
6) Collective Action, Complementary Advantage and Collaboration
7) Internationalisation and Regional Champions
8) Malaysia Inc. v 3.0 – Rebalancing the Role of States and markets
9) Innovation and Entrepreneurship
10) Inclusion and Sustainability
11) Talent, Culture and a Learning Organization
12) Institutionalization Integrity and Good Governance
Tan Sri Azman said that to succeed, it is of utmost importance that we do the right things right, in the right way. ‘Doing the right things’ comes under mandate, ‘doing the things right’ comes under value creation, while ‘doing things in the right way’ comes under governance.
He also pointed out that in ensuring that an initiative is successful, we need to get the balance of three elements right. The three elements are ‘tough’ which involves giving due diligence to any undertaking, ‘savvy’ which involves being creative in coming up with solutions, and ‘fair’ which involves being honest and equitable.
During the course of his talk he mentioned that a possible future collaboration between UTM and Khazanah could involve the use of real case studies which have been amass by Khazanah which can be used as an effective teaching and learning tool in UTM lecture rooms.