PETALING JAYA: Prime Minister Anwar Ibrahim today urged government-linked companies (GLCs) and government-linked investment companies (GLICs) not to focus solely on profit but to take on a greater corporate responsibility in terms of nation-building.
“Moving forward, the finance ministry will coordinate efforts to ensure that GLICs and GLCs do various things.
“These include implementing strategic investments aligned with the New Industrial Master Plan and National Energy Transition Roadmap, supporting Malaysia’s economic transformation,” he said at the finance ministry’s monthly assembly here.
Anwar, who is also the finance minister, said GLCs and GLICs were also invited to attend the monthly assemblies.
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He also urged GLCs and GLICs to enhance employee welfare and support human capital development, including through graduate employability programmes.
Anwar likewise said that GLICs should support Malaysia’s economic growth and encourage direct domestic investments.
“The collective role of GLICs, which manage nearly RM2 trillion in asset value, should be optimised to support Malaysia’s economic growth.”
Last month, Anwar said GLICs and GLCs should also increase investments in the digital and renewable energy sectors, and encourage the micro, small and medium enterprise sector to expand their market to regional countries, as outlined in Malaysia’s national aspirations.
Anwar also mandated GLICs to increase their domestic direct investments, saying they had a responsibility to work with the government in driving economic growth and expanding the people’s income.
He said that as the total size of assets under management was worth RM1.84 trillion, almost equal to the size of Malaysia’s nominal GDP last year, GLICs were capable of moving and accelerating Malaysia’s economy.
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