Malaysia’s sovereign wealth fund Khazanah Nasional is in talks to sell 60 per cent stake in property developer M+S Pte Ltd to joint venture partner Singapore’s state investment company Temasek Holdings, The Malaysian Reserve reports. According to the Reserve, the divestment plan is triggered by the new Pakatan Harapan administration’s initiative to make state-linked companies more efficient, profitable and not become a liability. The new government led by Prime Minister Mahathir Mohamad repeatedly criticised Khazanah in the past, stating that it had deviated from its original objectives and that the executives were overpaid. In July, Mahathir appointed himself as Khazanah chairman and replaced four of its directors.