Malaysia’s sovereign wealth fund Khazanah Nasional Berhad (Khazanah) said Tuesday it will be spearheading a nation-building initiative through a new green investment platform as announced by the Prime Minister of Malaysia Anwar Ibrahim recently.
The green investment platform, which aims to attract domestic and overseas investments, will be mobilized under UEM Group Berhad (UEM Group), a wholly owned subsidiary of Khazanah, Khazanah said in a statement.
According to the statement, the platform will look to invest and build businesses in green sectors such as renewable energy and storage, green building technology and energy efficiency, and 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.
The platform will also serve to unlock value in Khazanah’s existing portfolio and achieve commercial returns by developing its seed assets through new investments and collaborating with high potential local and international companies.
“Our vision is the development of a globally competitive green investment platform in the region, with a direct and active ownership approach,” Khazanah managing director Amirul Feisal Wan Zahir said.
According to him, 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 decarbonization 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,” he added.
According to the statement, 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 center 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 synergizing efforts across our companies,” said Amirul Feisal.
Khazanah is the sovereign wealth fund of Malaysia entrusted to deliver sustainable value for Malaysians.
In line with its long-term strategy of Advancing Malaysia, the fund aims to deliver its purpose by investing in catalytic sectors, creating value through active stewardship, increasing its global presence, as well as building capacity and vibrant communities for the benefit of Malaysians.
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