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Six Malaysian state-linked companies pledge US$26.9 billion in domestic investments

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KUALA LUMPUR: Six Malaysian government-linked investment companies (GLICs) have pledged to invest 120 billion ringgit (US$26.85 billion) in domestic direct investments over the next five years, the finance ministry said on Thursday (Aug 8).

A general view shows increasingly busy streets as Malaysia reopens a majority of businesses, after a movement control order was imposed to fight the outbreak of the coronavirus disease , in Kuala Lumpur, Malaysia, on May 4, 2020. KUALA LUMPUR: Six Malaysian government-linked investment companies have pledged to invest 120 billion ringgit in domestic direct investments over the next five years, the finance ministry said on Thursday .

The companies involved include sovereign wealth fund Khazanah Nasional, pension funds the Employees Provident Fund and Kumpulan Wang Persaraan , and asset manager Permodalan Nasional Berhad. "By getting the GLICs to heighten their focus on domestic investments, this deployed capital can benefit Malaysians equitably and birth new economic ecosystems," Prime Minister Anwar Ibrahim, who is also Finance Minister, said in the statement.

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