PUTRAJAYA: Government-linked investment companies (GLICs) tripled their domestic direct investments to RM20.3bil in 2025 under the Government-linked Enterprises Activation and Reform Programme (GEAR-uP), marking the programme’s first full year of implementation, says the Finance Ministry.
In the 2026 GEAR-uP Report Card released on Friday (Aug 7), the ministry said the amount was about three times higher than the RM6.6bil recorded in 2024.
It said RM1.4bil was channelled into the semiconductor industry, while RM1.8bil was invested in digital and logistics infrastructure.
Further investments were made in the energy, healthcare, food security and start-up sectors.
Finance Minister II Datuk Seri Amir Hamzah Azizan said the programme was designed to transform capital into long-term economic capabilities by supporting business growth, creating quality jobs and raising incomes.
“GEAR-uP works to turn capital into capabilities. That means building businesses, creating good jobs and paying Malaysians fairly.
“This report shows what a full year of that work has delivered,” he told reporters at a media briefing here.
He said the programme’s success should not be measured solely by the value of investments, but also by higher wages, better employment opportunities, stronger businesses and more resilient domestic supply chains.
“We do not measure success in ringgit alone. We measure it in wages raised, in graduates starting good jobs, in firms growing and in supply chains taking root in Malaysia,” he said.
The ministry said that as of December 2025, 91.7% of the 206,987 permanent Malaysian employees across the six participating GLICs and their 37 government-linked companies (GLCs) earned at least RM3,100 a month, meeting the living wage benchmark following a commitment made by the GLICs in May last year.
It added that GLICs and GLCs spent RM641mil on community programmes in 2025, a 20% increase from the previous year.
Between 2020 and 2025, their scholarship programmes supported an average of 7,526 students annually, with 88% of recipients coming from B40 and M40 households.
The report also highlighted continued efforts to strengthen Bumiputera participation in the economy.
In 2025, the GLICs invested RM1.3bil directly into Bumiputera companies, while GLCs and PETRONAS procured about RM49bil worth of goods and services annually from bumiputera businesses between 2022 and 2025.
Looking ahead, the ministry said the 37 GLCs under the six participating GLICs generated an overall shareholder return of 8% in 2025, exceeding the programme’s 7.5% target.
It said most of the RM120bil investment commitment under GEAR-uP has yet to be deployed, with future investments expected to continue flowing into semiconductors, digital infrastructure, healthcare and the energy transition.
The ministry added that the Bakat Madani initiative is expected to provide training and employment opportunities to 25,000 Malaysians by the end of 2027.
