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

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.

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European tech stocks fall to six-month low, join in global sell-offLONDON : European technology stocks fell to their lowest level in over six months on Friday, amid a broad global equity sell-off and as investors dumped semiconductor stocks following disappointing earnings from Intel. The STOXX Europe 600 technology index was last down 3.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »