Khalid was born in the village of Kampung Jalan Raja Abdullah in Kuala Selangor district, Selangor. He graduated from the University of Malaya with a Bachelor's Degree in Economics and later obtained an MBA from the University of Queensland.[1]
Khalid began his career as a university lecturer. In 1979 he joined the United Malays National Organisation, the leading party in Malaysia's ruling Barisan Nasionalcoalition.[2] In the same year, he became the chief executive of the government-controlled fund management firm Permodalan Nasional Berhad (PNB), a position he held until 1994.[1] In 1981, he became famous for leading the "dawn raid" on the London Stock Exchange, which resulted in PNB gaining a 51% share in British plantationconcern Guthrie in less than two hours. He later became the CEO of the Malaysianized Guthrie, now known as Kumpulan Guthrie Bhd, from 1995 to 2003.[1
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