GLCs to invest RM1.5 billion in start-ups, says Anwar

GOVERNMENT-linked companies (GLCs) such as Khazanah Nasional Bhd and the Employees’ Provident Fund (EPF) will invest in innovative and high-growth local start-ups with an investment of RM1.5 billion, Prime Minister Anwar Ibrahim said yesterday.

The prime minister added that, with the cumulative investment value of GLCs estimated at RM50 billion this year, their role and that of government-linked investment companies (GLICs) as the driver of the country’s economy is huge.