GEAR-uP - Photo: MOF
KUALA LUMPUR: The government’s GEAR-uP programme aims to boost the domestic economy by channeling RM120 billion from RM1.8 trillion in assets managed by six Government-Linked Investment Companies (GLICs) into local investments. The Employees Provident Fund (EPF) holds the largest share of these assets, at 63%.
Mazli Noor, a fellow at the Institute of Corporate Directors Malaysia, stressed the importance of establishing clear KPIs and a minimum return of 6% for the programme’s success. He cited KWAP’s financial turnaround and Norway’s Government Pension Fund Global as examples of effective fund management. The goal is to ensure sustainable, long-term returns for public investors.
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