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6 GLICs pledge RM120b in domestic investments over 5 year-period ========== Six government-linked investment companies (GLICs) in Malaysia, including Khazanah Nasional Bhd, EPF, KWAP, PNB, TH, and LTAT, have committed to investing RM120 billion in domestic direct investments (DDI) over the next five years under a program led by the Ministry of Finance. The investments will focus on high-growth, high-value industries, such as the energy transition sector and advanced manufacturing. The GLICs will also support investments in start-ups, venture capital, and mid-tier companies, as well as aid in the listing of these companies. The program, named GEAR-uP, aims to boost growth in crucial economic sectors and benefit Malaysians equitably. Prime Minister Anwar Ibrahim emphasized the financial capacity of the GLICs, with a combined assets under management (AUM) valued at over RM1.8 trillion. The GLICs and GLCs will also take actions to improve the lives of employees and investee companies, including ensuring permanent Malaysian employees receive a total compensation equivalent to monthly living wages of RM3,100. Kumpulan Amanah Wang Negara (KWAN) will be enhanced as Malaysia's intergenerational wealth fund. The program is part of the government's efforts to drive domestic investments and transform the country's economic value chain. #Glics #Investment #Malaysia #DomesticInvestments #EconomicGrowth https://www.nst.com.my/business/economy/2024/08/1088366/6-glics-pledge-rm120b-domestic-investments-over-5-year-period