On Balance:
Recalibrating Markets, Firms, Society and People

8 & 9 October 2018

Concept Paper

While governments have rolled out some of the largest social spending programmes ever seen, the pandemic’s aftermath, technological change and the green transition risk further eroding skills, jobs and social cohesion. What new policies and business actions are needed to create social mobility, good jobs and an equitable society for all?


8.00am - 9.00am


9:00am - 9:05am

Welcome Remarks and Introduction To KMF2018

Datuk Shahril Ridza Ridzuan
Managing Director, Khazanah Nasional Berhad

9:05am - 9:30am

Opening Address

YB Dato' Seri Mohamed Azmin Ali
Minister of Economic Affairs Malaysia; and Board Member, Khazanah Nasional Berhad

9:35am - 10:20am

Special Address: 'Striving for Balance in Economics, Politics, and Society'

Prof Joseph E. Stiglitz
Nobel Laureate; and University Professor, Columbia University

Introducer: Tengku Dato’ Sri Azmil Zahruddin
Deputy Managing Director and Head of Investments, Khazanah Nasional Berhad

10:20am - 10:35am


10:45am - 11:55am

Core Session 1: Macro and Markets

EM: Escaping the Lost Decade

Stephen Hagger
Managing Director and Head of Equities, Credit Suisse Malaysia

Nurhisham Hussein
Head of Economics and Capital Markets, Employees Provident Fund (EPF)

Xingdong Chen
Chief China Economist, BNP Paribas

Dr Yilmaz Akyuz
Former Chief Economist, South Centre; and former Director and Chief Economist, United Nations Conference on Trade and Development (UNCTAD)

Chairperson: Mohamed Ridzuan Mohamed
Director, Khazanah Research & Investment Strategy, Khazanah Nasional Berhad

12:00pm - 12:45pm

Special Address: 'Economic Diversification and Economic Development'

Dr Ha-Joon Chang
Director of the Centre of Development Studies, University of Cambridge

Introducer: Bryan Lim
Executive Director, Khazanah Nasional Consulting (Beijing) Company Limited

12:55pm - 2:10pm

Luncheon Address

YB Lim Guan Eng
Minister of Finance Malaysia

Introducer: Faridah Bakar Ali
Chief Financial Officer, Khazanah Nasional Berhad

2:20pm - 3:30pm

Core Session 2: Firms and Transformation

To Explore and to Exploit: Trials and Tribulations in an Era of Rapid Disruption

Dale Cottrell
Regional Managing Partner, Bain & Company Asia Pacific

Jessica Tan
Deputy Group CEO, Ping An Insurance (Group) Company of China Ltd

Dr Tan See Leng
CEO and Managing Director, IHH Healthcare Berhad

Scott Kalb
Chairman, Sovereign Investor Institute, Institutional Investor

Chairperson: Ahmad Zulqarnain Onn
Deputy Managing Director, Khazanah Nasional Berhad

3:35pm - 4:50pm

Special Session: 'Active vs Passive - The Paradox of Long Term Capital'

Dominic Barton
Senior Partner and former Global Managing Partner, McKinsey and Company

Mark Wiseman
Global Head of Active Equities, BlackRock; and Chairman, BlackRock Alternative Investors

Moderator: Hisham Hamdan
Executive Director, Investments and Head of Khazanah Research & Investment Strategy, Khazanah Nasional Berhad

4:50pm - 5:05pm


5:15pm - 6:15pm

Special Session: Social Movement

A New Balance of Power? When Institutions Meet Movements

Anya Schiffrin
Director of the Technology, Media, and Communications specialization, School of International and Public Affairs, Columbia University

Dain Said
Writer and filmmaker

Hashim Shawa
Chairman, Bank of Palestine Group

Prof Nigel Osborne
Music composer, social activist, and Professor Emeritus, Edinburgh College of Art, The University of Edinburgh

Chairperson: Charles Leadbeater
Author and independent strategic advisor


End Of Day One

9:05am - 9:50am

Special Address: 'Solving Global Challenges Using Finance Science - Past and Future'

Prof Robert C. Merton
Nobel Laureate; School of Management Distinguished Professor of Finance, MIT Sloan School of Management; Resident Scientist, Dimensional Holdings Inc

Introducer: Amran Hafiz Affifudin
Executive Director, Investments, Khazanah Nasional Berhad

9:55am - 11:05am

Core Session 3: Growth and Development

Is industrial policy still relevant? Development in an age of finance, inequality, automation, trade conflicts and WEF’s IR4.0

Prof Jayati Ghosh
Professor of Economics, Jawaharlal Nehru University

Dr Nungsari Ahmad Radhi
Executive Chairman, Malaysian Aviation Commission (MAVCOM)

Prof Ravi Kanbur
T.H. Lee Professor of World Affairs, International Professor of Applied Economics, and Professor of Economics, Cornell University

Chairperson: Prof Jomo Kwame Sundaram
Visiting Senior Fellow, Khazanah Research Institute

11:05am - 11:30am


11:40am - 12:30pm

Special Session:
'The Story of GEMS Education: Finding the right balance to create enduring value and impact'

Dino Varkey
CEO, GEMS Education

12:30pm - 1:45pm

Networking Lunch

1:55pm - 2:40pm

Special Session: 'Long Term or Short Term? A CEO's Experience on Investments and Leadership'

Martin Gilbert
Chief Executive, Aberdeen Standard Investments

Executive Director, Corporate & Support Services, Company Secretary and Head of Legal, Khazanah Nasional Berhad

2:45pm - 3:30pm

Special Address: 'What makes movies real - a storyteller’s non-fiction account of making fictional stories'

Ronnie del Carmen
Animation director, writer, story artist, story supervisor and production designer

Introducer: Shahril Ibrahim
Director, Khazanah Americas Incorporated

3:35pm - 4:45pm

Core Session 4: People and Leadership

Talk with Crowds, Walk with Kings: Leading and Following in an Out-of-Balance World

Armin Effendi
Country Chairman, Korn Ferry Malaysia

Frank Gardner
Security Correspondent, BBC

Imam Yahya Hendi
Director of Muslim Life, Georgetown University; and President, Clergy Beyond Borders

Nadiah Wan
CEO, Thomson Hospital Kota Damansara; and Group Chief Corporate Officer, TMC Life Sciences Berhad

Chairperson: Jiv Sammanthan
Executive Director and Head of Managing Director's Office, Khazanah Nasional Berhad

4:45pm - 5:00pm


5:10pm - 5:45pm

Closing Address

YAB Tun Dr Mahathir Mohamad
Prime Minister of Malaysia; and Chairman, Khazanah Nasional Berhad


End Of Day Two