Malaysia's sovereign wealth fund Khazanah Nasional Bhd has sold stakes worth RM5.66 billion (US$ 1.36 billion) in seven foreign firms including Alibaba Group Holding Ltd in the first 16 months of the current government, a minister said.

Khazanah, which made its first loss in a decade last year, has been under pressure to raise funds for the debt-laden government of Prime Minister Mahathir Mohamad who took office in May last year.