PUTRAJAYA: Government-linked investment companies (GLICs) overseeing Bumiputra savings managed a combined RM292.1bil in assets under management (AUM) in 2025, highlighting their role in safeguarding the financial security of millions of Malaysians, particularly those in the B40 and M40 income groups.
The figures were contained in the Finance Ministry’s 2026 GEAR-uP Report Card, launched on Friday (Aug 7), marking the first full-year assessment of the Government-linked Enterprises Activation and Reform Programme (GEAR-uP).
The report showed that more than 70% of unitholders across major savings institutions are from B40 and M40 households, reflecting the government’s strategy of using GLICs to strengthen household wealth and improve financial resilience.
Lembaga Tabung Angkatan Tentera (LTAT), Tabung Haji and Permodalan Nasional Bhd’s flagship unit trust fund Amanah Saham Bumiputera (ASB) together managed RM292.1bil in assets and distributed a combined RM14.1bil to depositors and unitholders in 2025.
The three institutions collectively serve millions of Malaysians, including about 110,000 LTAT contributors, more than nine million Tabung Haji depositors and 11 million ASB unitholders.
Finance Minister II Datuk Seri Amir Hamzah Azizan said expanding Bumiputera household wealth remained a key government priority through higher savings, broader investment participation and stronger financial resilience.
He said workers in the formal sector were encouraged to build sufficient retirement savings through the Employees Provident Fund (EPF), while investment products managed by PNB provide opportunities for Bumiputera investors to grow their wealth.
“The foundation is creating opportunities for people to earn better incomes through skills training and better jobs.
“Once they have higher incomes, we want to help them learn how to invest their savings so that their wealth can continue to grow,” he told a media briefing here.
EPF chief executive officer Ahmad Zulqarnain Onn said the retirement fund remained focused on improving financial literacy and raising members’ retirement adequacy.
He said about 41% of EPF members met the basic savings benchmark last year, with the fund aiming to raise that proportion as retirement savings recover from Covid-19-era special withdrawals.
He said initiatives include i-Saraan, which offers government matching incentives for voluntary contributors, i-Topup for additional monthly contributions through the i-Akaun app, and i-Emas, which allows retirees to receive monthly withdrawals instead of taking out their EPF savings in a lump sum.
PNB president and group chief executive Datuk Rizal Rickman Ramli said the fund manager oversees more than RM234bil in Bumiputra savings and now has 13.2mil unitholders, equivalent to nearly one in three Malaysians.
He said PNB was encouraging systematic rather than ad hoc savings through automatic monthly investments, salary deduction programmes and goal-based savings products.
“Our objective is to grow AUM through sustainable dividend payouts and by encouraging Malaysians to continue saving with us. These two factors will strengthen household wealth over time,” he said.
LTAT chief executive Mohammad Ashraf Md Radzi said 97% of its contributors are Bumiputera, with the majority from B40 households.
He said LTAT has prioritised financial literacy for Armed Forces personnel, reaching more than 60,000 members since launching the programme in December 2023, while ensuring all new recruits and retiring personnel receive financial planning guidance.
Tabung Haji group managing director and chief executive officer Mustakim Mohamad said the institution has also expanded financial literacy programmes to encourage saving from an early age.
He said its “Cilik-cilik Dah Celik” initiative targets young families and children to promote consistent savings for future haj expenses and strengthen long-term financial discipline.
