1Malaysia Development Berhad
(former Terengganu Investment Authority)
Fund detailsTIA was officially renamed 1Malaysia Development Berhad on September 25, 2009.
TIA will acquire some of the assets owned by the state.
The listed companies, held by its investment arm Terengganu Incorporated Sdn Bhd, are Eastern Pacific Industrial Corporation Bhd (EPIC), TDM Bhd and Golden Pharos Bhd.
Among the unlisted assets are Syarikat Air Terengganu Sdn Bhd and several parcels of land that have been partially developed³
Funds raised will be invested both within Terengganu and also the rest of Malaysia. But the TIA will also have a mandate to invest globally¹.
Shahrol Halmi, TIA Chief Executive Officer said that the fund plans to invest in "high-impact, strategic projects in Terengganu, other parts of Malaysia, and in regional and international projects that have positive spillover benefits to Terengganu"5.
1. Terengganu forms own investment fund , The Malaysian Insider, December 12, 2008
2. RM400mil boost for Terengganu sovereign wealth fund, Malaysia Today, December 13, 2008
3. T'ganu fund to buy state assets, The Edge Daily, December 16, 2008
4. The Terengganu Investment Authority can uplift the state, The Star, December1 8, 2008
5. Malaysian State Plans 11 Billion-Ringgit Wealth Fund, Bloomberg, May 18, 2009
Last Updated: 19.05.2009