{"version":"1","article":{"id":"malaysia-glics-to-invest-additional-rm120-billion-through-2028","slug":"malaysia-glics-to-invest-additional-rm120-billion-through-2028","language":"en","url":"https://haberpaper.com/en/news/malaysia-glics-to-invest-additional-rm120-billion-through-2028","api_url":"https://haberpaper.com/api/v1/articles/malaysia-glics-to-invest-additional-rm120-billion-through-2028?lang=en","title":"Malaysia’s GLICs report more than RM20 billion invested under GEAR-uP in 2025","summary":"The government-linked investment programme has a RM120 billion domestic investment commitment for 2024–2028; officials expect a similar annual level in 2026, but the full commitment remains a target.","category":"economy","region":"world","topics":[],"published_at":"2026-10-04T18:20:06+03:00","modified_at":"2026-10-04T18:20:06+03:00","publication_basis":"publication-record","event_period":"2026-09-29","event_period_basis":"event-or-reference-period","sources":[{"name":"Bernama, reporting Malaysia Finance Minister II Amir Hamzah Azizan","url":"https://www.bernama.com/en/news.php?id=2613202","publishedAt":"2026-09-30","checkedAt":"2026-10-04"},{"name":"Malaysia Ministry of Finance, GEAR-uP 2026 report card","url":"https://www.mof.gov.my/portal/en/news/press-release/gear-up-2026-report-card-07082026","publishedAt":"2026-08-07","checkedAt":"2026-10-04"},{"name":"Malaysia Ministry of Finance, GEAR-uP programme overview","url":"https://www.mof.gov.my/portal/en/news/press-release/ekonomi-madani-rm120-billion-domestic-direct-investment-boost-from-glics-under-mof-led-programme","publishedAt":"2024-08-08","checkedAt":"2026-10-04"}],"translations":[{"language":"tr","url":"https://haberpaper.com/tr/news/malaysia-glics-to-invest-additional-rm120-billion-through-2028","api_url":"https://haberpaper.com/api/v1/articles/malaysia-glics-to-invest-additional-rm120-billion-through-2028?lang=tr"},{"language":"en","url":"https://haberpaper.com/en/news/malaysia-glics-to-invest-additional-rm120-billion-through-2028","api_url":"https://haberpaper.com/api/v1/articles/malaysia-glics-to-invest-additional-rm120-billion-through-2028?lang=en"},{"language":"ar","url":"https://haberpaper.com/ar/news/malaysia-glics-to-invest-additional-rm120-billion-through-2028","api_url":"https://haberpaper.com/api/v1/articles/malaysia-glics-to-invest-additional-rm120-billion-through-2028?lang=ar"},{"language":"fr","url":"https://haberpaper.com/fr/news/malaysia-glics-to-invest-additional-rm120-billion-through-2028","api_url":"https://haberpaper.com/api/v1/articles/malaysia-glics-to-invest-additional-rm120-billion-through-2028?lang=fr"},{"language":"es","url":"https://haberpaper.com/es/news/malaysia-glics-to-invest-additional-rm120-billion-through-2028","api_url":"https://haberpaper.com/api/v1/articles/malaysia-glics-to-invest-additional-rm120-billion-through-2028?lang=es"}],"data_types":["series","metrics"],"data":{"version":1,"blocks":[{"id":"gearup-domestic-deployment","type":"series","unit":"billion MYR","measure":{"id":"gearup-domestic-investment","unitCode":"billion-myr","geography":"malaysia-gearup","frequency":"annual","aggregation":"flow","periodRole":"reference-period"},"title":{"tr":"GEAR-uP yıllık yurt içi yatırım kullanımı","en":"GEAR-uP annual domestic investment deployment","ar":"الإنفاق السنوي المحلي للاستثمار ضمن GEAR-uP","fr":"Déploiement annuel des investissements intérieurs de GEAR-uP","es":"Despliegue anual de inversión nacional de GEAR-uP"},"description":{"tr":"Maliye Bakanlığının 2026 ilerleme raporundaki 2024 ve 2025 yıllık yurt içi kullanım rakamları.","en":"Annual domestic deployment figures for 2024 and 2025 in the Finance Ministry’s 2026 progress report.","ar":"أرقام النشر المحلي السنوي لعامي 2024 و2025 في بطاقة التقدم لعام 2026 لوزارة المالية.","fr":"Montants annuels de déploiement intérieur en 2024 et 2025 dans la fiche de progrès 2026 du ministère des Finances.","es":"Importes anuales de despliegue nacional de 2024 y 2025 en la tarjeta de progreso 2026 del Ministerio de Finanzas."},"methodology":{"tr":"Raporun verdiği nominal yıllık tutarlar kullanılmıştır: 2024’te 6,6 ve 2025’te 20,3 milyar MYR. Bunlar 2024–2028 dönemi için ayrı olan 120 milyar MYR kümülatif hedefle karıştırılmamalıdır.","en":"Uses the report’s nominal annual values: MYR 6.6 billion in 2024 and MYR 20.3 billion in 2025. These must not be conflated with the separate cumulative MYR 120 billion target for 2024–2028.","ar":"تستخدم السلسلة القيم الاسمية السنوية الواردة في التقرير: 6.6 مليارات MYR في 2024 و20.3 ملياراً في 2025. ولا ينبغي خلطها بهدف تراكمي منفصل قدره 120 مليار MYR للفترة 2024–2028.","fr":"La série reprend les valeurs annuelles nominales du rapport : 6,6 milliards de MYR en 2024 et 20,3 milliards en 2025. Elles ne doivent pas être confondues avec l’objectif cumulé distinct de 120 milliards de MYR pour 2024–2028.","es":"La serie utiliza los valores nominales anuales del informe: 6.600 millones de MYR en 2024 y 20.300 millones en 2025. No deben confundirse con el objetivo acumulado separado de 120.000 millones de MYR para 2024–2028."},"sourceUrls":["https://www.bernama.com/en/news.php?id=2613202","https://www.mof.gov.my/portal/en/news/press-release/gear-up-2026-report-card-07082026"],"updatedAt":"2026-10-04T14:38:42Z","points":[{"period":"2024","value":6.6,"basis":"observed"},{"period":"2025","value":20.3,"basis":"observed"}]},{"id":"gearup-multiyear-target","type":"metrics","title":{"tr":"GEAR-uP çok yıllı yatırım hedefi","en":"GEAR-uP multi-year investment target","ar":"الهدف الاستثماري متعدد السنوات لبرنامج GEAR-uP","fr":"Objectif pluriannuel d’investissement de GEAR-uP","es":"Objetivo plurianual de inversión de GEAR-uP"},"description":{"tr":"İlk aşama için ilan edilen yurt içi doğrudan yatırım taahhüdü.","en":"Announced domestic direct-investment commitment for the programme’s first phase.","ar":"التزام الاستثمار المباشر المحلي المعلن للمرحلة الأولى.","fr":"Engagement annoncé d’investissement direct intérieur pour la première phase du programme.","es":"Compromiso anunciado de inversión directa nacional para la primera fase del programa."},"methodology":{"tr":"120 milyar MYR, 2024–2028 için kümülatif hedef olarak gösterilir; gerçekleşmiş toplam değildir. Kaynak 2026’da 2025’e benzer yatırım düzeyi beklendiğini bildirir, ancak bu beklentiyi kesin sayıya dönüştürmez.","en":"MYR 120 billion is shown as a cumulative 2024–2028 target, not a realised total. The source reports an expectation of a similar investment level in 2026, but does not turn that expectation into an exact value.","ar":"يُعرض مبلغ 120 مليار MYR كهدف تراكمي للفترة 2024–2028، وليس إجمالياً محققاً. ويتوقع المصدر في 2026 مستوى استثمار مشابهاً لـ2025، لكنه لا يحدد هذه التوقعات برقم دقيق.","fr":"Les 120 milliards de MYR sont présentés comme un objectif cumulé pour 2024–2028, et non comme un total réalisé. La source prévoit un niveau similaire à 2025 en 2026, sans chiffrer précisément cette attente.","es":"Los 120.000 millones de MYR se presentan como objetivo acumulado para 2024–2028, no como total realizado. La fuente espera un nivel similar al de 2025 en 2026, pero no cuantifica exactamente esa previsión."},"sourceUrls":["https://www.bernama.com/en/news.php?id=2613202","https://www.mof.gov.my/portal/en/news/press-release/gear-up-2026-report-card-07082026"],"updatedAt":"2026-10-04T14:38:42Z","items":[{"label":{"tr":"2024–2028 GEAR-uP yurt içi doğrudan yatırım taahhüdü","en":"GEAR-uP domestic direct-investment commitment, 2024–2028","ar":"التزام GEAR-uP بالاستثمار المباشر المحلي للفترة 2024–2028","fr":"Engagement d’investissement direct intérieur de GEAR-uP, 2024–2028","es":"Compromiso de inversión directa nacional de GEAR-uP, 2024–2028"},"value":120,"unit":"billion MYR","period":"2028","periodStart":"2024","basis":"target","measure":{"id":"gearup-domestic-investment-commitment","unitCode":"billion-myr","geography":"malaysia-gearup","frequency":"annual","aggregation":"cumulative","periodRole":"reference-period"}}]}]},"data_compilations":[{"id":"gearup-domestic-deployment","creator":{"@type":"Organization","@id":"https://haberpaper.com/#organization","name":"Haber Paper","url":"https://haberpaper.com/"},"license":{"@type":"CreativeWork","@id":"https://haberpaper.com/en/data-terms/v1#license","name":"Haber Paper Original Data Compilation License 1.0","url":"https://haberpaper.com/en/data-terms/v1"},"rights_scope":"Haber Paper original data arrangement, labels and methodology notes only; underlying source rights and permissions remain separate.","source_license_url":null},{"id":"gearup-multiyear-target","creator":{"@type":"Organization","@id":"https://haberpaper.com/#organization","name":"Haber Paper","url":"https://haberpaper.com/"},"license":{"@type":"CreativeWork","@id":"https://haberpaper.com/en/data-terms/v1#license","name":"Haber Paper Original Data Compilation License 1.0","url":"https://haberpaper.com/en/data-terms/v1"},"rights_scope":"Haber Paper original data arrangement, labels and methodology notes only; underlying source rights and permissions remain separate.","source_license_url":null}],"data_downloads":[{"id":"gearup-domestic-deployment","formats":{"json":"https://haberpaper.com/api/v1/articles/malaysia-glics-to-invest-additional-rm120-billion-through-2028/data/gearup-domestic-deployment?lang=en&format=json","csv":"https://haberpaper.com/api/v1/articles/malaysia-glics-to-invest-additional-rm120-billion-through-2028/data/gearup-domestic-deployment?lang=en&format=csv"}},{"id":"gearup-multiyear-target","formats":{"json":"https://haberpaper.com/api/v1/articles/malaysia-glics-to-invest-additional-rm120-billion-through-2028/data/gearup-multiyear-target?lang=en&format=json","csv":"https://haberpaper.com/api/v1/articles/malaysia-glics-to-invest-additional-rm120-billion-through-2028/data/gearup-multiyear-target?lang=en&format=csv"}}],"content":{"paragraphs":["Malaysia’s government-linked investment companies and their corporate networks are being asked to channel additional capital into the domestic economy under GEAR-uP, a programme running from 2024 through 2028. Finance Minister II Amir Hamzah Azizan said on 29 September that more than RM20 billion was invested in 2025 and a similar amount was expected in 2026. Bernama reported the remarks the following day. The initiative’s headline commitment is RM120 billion in domestic direct investment over the five-year period. It is a multi-year programme target, not a claim that RM120 billion has already been deployed.","A Ministry of Finance report card published in August gives a more precise retrospective figure: RM20.3 billion was allocated and deployed domestically in 2025, compared with RM6.6 billion in 2024. The 2025 total is an annual flow reported by the government, while RM120 billion is the cumulative 2024–2028 commitment. Those figures answer different questions and should not be conflated. The Finance Ministry describes RM440 billion of steady-state public-market investments separately from the RM120 billion domestic direct-investment goal; that separate portfolio figure is not another part of the announced DDI total to add to it.","The August report card identifies where some 2025 domestic deployment went: RM1.4 billion from Khazanah and KWAP into the higher-value semiconductor sector, and RM1.8 billion into digital and logistics infrastructure. These are selected programme components, not a full allocation table. They cannot be used to infer the entire sector split, and the source does not explain whether all these category amounts are mutually exclusive. The 2024 launch announcement had described intended areas such as energy transition, advanced manufacturing, semiconductors and financing for companies at different stages of growth. That earlier statement supplies programme design context; the 2026 report card supplies the more recent annual deployment figure.","The minister’s September update framed GEAR-uP as more than an investment-volume initiative. He said the New Industrial Master Plan guides investment toward sectors considered important for the national economy, and linked the programme to improving wages, economic complexity, investment quality and job opportunities. He also said more than 92 per cent of GLCs under GLICs had adopted a living wage since the start of 2026. The figure is a reported adoption share, not a wage increase percentage or a count of all workers in Malaysia. Bernama’s account does not define the living-wage benchmark or provide a company-level list, limiting independent assessment of coverage.","A related talent initiative, Bakat MADANI, is expected to provide internship and training opportunities to 25,000 people across 2026 and 2027, according to the minister. This is a prospective programme figure, not a count of placements already completed. The same announcement mentions investments connected with care workers and retirement villages in response to ageing-related priorities, but it does not publish investment amounts or expected care capacity. Separating these social and workforce elements from capital deployment matters: a training target is not investment spending, and a living-wage adoption claim is not itself evidence about the adequacy of wages or household income.","GEAR-uP was launched in August 2024 and is anchored by six government-linked investment companies: the Employees Provident Fund, Permodalan Nasional, KWAP, Khazanah, Tabung Haji and LTAT. The programme asks these institutions to invest commercially while supporting stated national development priorities. Its stated scale is large, but the available figures are government-reported and do not by themselves show additionality—that investments would not otherwise have occurred—or the distribution of returns and risks. Evaluation would require consistent reporting on annual commitments, signed and disbursed capital, sector allocation, private co-investment, project delivery, jobs, wages and returns, with clear separation between plans and realised outcomes."],"key_points":[],"sections":[]},"text":"The government-linked investment programme has a RM120 billion domestic investment commitment for 2024–2028; officials expect a similar annual level in 2026, but the full commitment remains a target.\n\nMalaysia’s government-linked investment companies and their corporate networks are being asked to channel additional capital into the domestic economy under GEAR-uP, a programme running from 2024 through 2028. Finance Minister II Amir Hamzah Azizan said on 29 September that more than RM20 billion was invested in 2025 and a similar amount was expected in 2026. Bernama reported the remarks the following day. The initiative’s headline commitment is RM120 billion in domestic direct investment over the five-year period. It is a multi-year programme target, not a claim that RM120 billion has already been deployed.\n\nA Ministry of Finance report card published in August gives a more precise retrospective figure: RM20.3 billion was allocated and deployed domestically in 2025, compared with RM6.6 billion in 2024. The 2025 total is an annual flow reported by the government, while RM120 billion is the cumulative 2024–2028 commitment. Those figures answer different questions and should not be conflated. The Finance Ministry describes RM440 billion of steady-state public-market investments separately from the RM120 billion domestic direct-investment goal; that separate portfolio figure is not another part of the announced DDI total to add to it.\n\nThe August report card identifies where some 2025 domestic deployment went: RM1.4 billion from Khazanah and KWAP into the higher-value semiconductor sector, and RM1.8 billion into digital and logistics infrastructure. These are selected programme components, not a full allocation table. They cannot be used to infer the entire sector split, and the source does not explain whether all these category amounts are mutually exclusive. The 2024 launch announcement had described intended areas such as energy transition, advanced manufacturing, semiconductors and financing for companies at different stages of growth. That earlier statement supplies programme design context; the 2026 report card supplies the more recent annual deployment figure.\n\nThe minister’s September update framed GEAR-uP as more than an investment-volume initiative. He said the New Industrial Master Plan guides investment toward sectors considered important for the national economy, and linked the programme to improving wages, economic complexity, investment quality and job opportunities. He also said more than 92 per cent of GLCs under GLICs had adopted a living wage since the start of 2026. The figure is a reported adoption share, not a wage increase percentage or a count of all workers in Malaysia. Bernama’s account does not define the living-wage benchmark or provide a company-level list, limiting independent assessment of coverage.\n\nA related talent initiative, Bakat MADANI, is expected to provide internship and training opportunities to 25,000 people across 2026 and 2027, according to the minister. This is a prospective programme figure, not a count of placements already completed. The same announcement mentions investments connected with care workers and retirement villages in response to ageing-related priorities, but it does not publish investment amounts or expected care capacity. Separating these social and workforce elements from capital deployment matters: a training target is not investment spending, and a living-wage adoption claim is not itself evidence about the adequacy of wages or household income.\n\nGEAR-uP was launched in August 2024 and is anchored by six government-linked investment companies: the Employees Provident Fund, Permodalan Nasional, KWAP, Khazanah, Tabung Haji and LTAT. The programme asks these institutions to invest commercially while supporting stated national development priorities. Its stated scale is large, but the available figures are government-reported and do not by themselves show additionality—that investments would not otherwise have occurred—or the distribution of returns and risks. Evaluation would require consistent reporting on annual commitments, signed and disbursed capital, sector allocation, private co-investment, project delivery, jobs, wages and returns, with clear separation between plans and realised outcomes.","corrections":[],"editorial_illustration":{"kind":"symbolic-editorial-illustration","documentary":false,"scope":"section","asset_id":"economy","url":"https://haberpaper.com/assets/illustrations/economy-1536.webp","width":1536,"height":1024,"alt":"Symbolic trading harbour with a cargo ship, containers and a bridge.","language":"en"},"section_illustration":{"kind":"symbolic-editorial-illustration","documentary":false,"scope":"section","asset_id":"economy","url":"https://haberpaper.com/assets/illustrations/economy-1536.webp","width":1536,"height":1024,"alt":"Symbolic trading harbour with a cargo ship, containers and a bridge.","language":"en"}}}