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Six GLICs Pledge RM120 Billion in Domestic Investments Over Five Years

Aug 8, 2024 1 min read

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Six Malaysian government-linked investment companies (GLICs) have committed to investing RM120 billion (approximately $26.85 billion) in domestic direct investments over the next five years. This initiative, led by the Ministry of Finance under the GEAR-uP programme, aims to bolster growth in high-growth high-value (HGHV) sectors, particularly in energy transition and advanced manufacturing, with a focus on semiconductors.

The companies involved include sovereign wealth fund Khazanah Nasional, the Employees Provident Fund, and Kumpulan Wang Persaraan. Prime Minister Anwar Ibrahim expressed that the increased focus on domestic investments is intended to benefit Malaysians equitably and create new economic ecosystems. In addition to the direct investments, the GLICs will also continue their public market investments, amounting to RM440 billion. The Ministry of Finance emphasized that each GLIC will lead efforts to enhance the well-being of employees within their organizations and broader ecosystems.

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