Khazanah spearheads green investment platform to attract new direct investments into Malaysia

Khazanah managing director Datuk Amirul Feisal Wan Zahir

KUALA LUMPUR: Khazanah Nasional Bhd will be spearheading a green investment platform to attract domestic and overseas investments.

In a statement, the sovereign wealth fund said the platform will be mobilised under UEM Group Bhd, a wholly owned subsidiary of Khazanah.

It said the platform will look to invest and build businesses in green sectors such as renewable energy and storage, green building technology and energy efficiency, as well as an e-mobility ecosystem.

“In line with Khazanah’s Advancing Malaysia strategy and as part of its nation-building and value creation initiatives, the platform is aimed at delivering Khazanah’s societal, strategic and financial mandates.

“Khazanah plans for the platform to drive Malaysia’s decarbonisation agenda while also upskilling Malaysians in green sectors over the long term.”

Khazanah said the platform will also serve to unlock value in its existing portfolio and achieve commercial returns by developing its seed assets through new investments and collaborating with high potential local and international companies.

In the same statement, Khazanah managing director Datuk Amirul Feisal Wan Zahir said its vision is the development of a globally competitive green investment platform in the region, with a direct and active ownership approach.

“This will be carried out in phases with its initial near-term objective of creating green domestic champions in the country, followed by the medium-term aim of establishing a platform that is competitive regionally.

“The platform will be a significant part of our nation-building and value creation initiatives, aimed at driving Malaysia’s decarbonisation agenda and economic prowess, while building the capabilities of the nation’s green industries and upskilling of Malaysians to support and augment these industries, as we head towards the new economy.”

Khazanah, via UEM Group, will soon launch a comprehensive strategy on strategic investments as well as partnerships and collaborations with both local and foreign entities, including planned approaches to attract green investments to create a vibrant and dynamic green economy ecosystem.

“We look forward to contributing towards the government’s ambition in establishing Malaysia as Asean’s centre of electricity interconnection and integration to facilitate the sharing of renewable energy resources, crowd-in more investments and promote sustainable development in the region by synergising efforts across our companies,” said Amirul.