KUALA LUMPUR – The government today launched the Perkukuh Pelaburan Rakyat (Perkukuh) initiative, effectively starting the journey for six government-linked investment companies (GLICs) to execute their refreshed mandates.
Prime Minister Tan Sri Muhyiddin Yassin said Perkukuh was created to reimagine the role and renew the capabilities of Malaysia’s GLICs, comprising 20 main initiatives to achieve five key outcomes.
The key outcomes include sharpening clarity on the mandate of each GLIC; enhancing focus on developmental and catalytical investments to spur new growth and enhance socio-economic impact; and crowding in the private sector while streamlining the role of the government and its agencies in business.
“Perkukuh fundamentally begins by recognising the different mandates, funding structures and risk profiles of various GLICs. In particular, the companies will be sub-divided into two categories, namely, sovereign wealth funds on one hand, encompassing entities like Khazanah Nasional Bhd, Kumpulan Wang Persaraan (Diperbadankan), Kumpulan Wang Amanah Negara, and Ministry of Finance Inc.
“(On the other hand are) institutional investors like Employees Provident Fund, Permodalan Nasional Bhd, Lembaga Tabung Haji and Lembaga Tabung Angkatan Tentera to better reflect their unique mandates, strategies and asset liability management,” he said in his speech during the launch of Perkukuh held virtually today. – Bernama, August 12, 2021
