Headline All eyes on the seven influential GLICs MediaTitle Focus Date 04 Aug 2018 Language English Circulation 16,405 Readership 49,215 Section News Page No 10 ArticleSize 746 cm² Journalist N/A PR Value RM 38,830

All eyes on the seven influential GLICs Ministry of Finance Inc Bank Pembagunan Bhd, Agrobank | (MOF Inc) Bhd, FELCRA Bhd, Keretapi Tanah Melayu Bhd, Malaysia Debt Ventures MoF Inc is arguably the single most Bhd, Danainfra Nasional Bhd, Mass powerful GLIC within the Malaysian Rapid Transit Corp Sdn Bhd (MRT), government machinery. It reports MyHSR Corp Sdn Bhd, Prasarana directly to Minister of Finance (MoF) Malaysia Bhd and Syarikat and also controls Perumahan Negara Bhd, among another GLIC, Khazanah Nasional others. Bhd. Suria Strategic Energy Via a golden share, MoF Inc Resources Sdn Bhd (SSER), a com- exerts influence over Permodalan pany recently embroiled in a RM9.3 Nasional Bhd (PNB), another GLIC bil scandal for gas pipeline projects which comes under Yayasan in Sarawak, is also under MOF Inc. Pelaburan Bumiputera (YPB). However, there is talk that the gov- As a GLIC established under the ernment is mulling abolishing MoF MoF Inc Act 1957, it is tasked with Inc altogether. If this happens, the overseeing strategic investment into fate of 68 companies under it will be companies which require high initial in limbo. investment costs and face high market barriers. Through these Kumpulan Wang investments, MoF Inc is expected to I Persaraan (KWAP) stimulate economic growth and attract further foreign investments KWAP is one of the top three GLICs into sectors such as biotechnology, in the country in terms of fund size. It information technology, utilities and was thrust into the spotlight over its communications. RM4 bil loan to SRC International So far, MoF Inc has 68 compa- Sdn Bhd, a subsidiary of 1MDB. nies under its belt. They include Incorporated in 2007, KWAP is Petroliam Nasional Bhd (Petronas), Malaysia's second-largest retire- 1 Malaysia Development Bhd (1 MDB), ment fund and manages RM125 bil in Headline All eyes on the seven influential GLICs MediaTitle Focus Malaysia Date 04 Aug 2018 Language English Circulation 16,405 Readership 49,215 Section News Page No 10 ArticleSize 746 cm² Journalist N/A PR Value RM 38,830

assets. The fund was established Setia Bhd, UMW Holdings Bhd, nies and stocks in China such as under the Retirement Fund Act 2007, Chemical Company of Malaysia Bhd Alibaba. replacing the repealed Pensions (CCM),I&P Group Sdn Bhd, Interestingly, Khazanah was Trust Fund Act 1991. Goodyear Malaysia Bhd and Unilever established by Mahathir in 1994. Its The difference between KWAP (Malaysia) Holdings Sdn Bhd. portfolio of listed companies and EPF is that KWAP only manages include some of Malaysia's biggest contributions from permanent gov- Lembaga Tabung Haji names such as Telekom Malaysia ernment staff with pensionable Bhd, Tenaga Nasional Bhd, Malaysia status and those in service with regu- I (LTH) Airports Holdings Bhd, CIMB Group latory bodies and local authorities. Founded in 1963, Lembaga Tabung Holdings Bhd, UEM Sunrise Bhd, Contributing employers to the fund Haji (LTH) is the pilgrims fund board, IHH Healthcare Bhd and UEM are, among others, Majlis Amanah formerly known as Lembaga Urusan Group Bhd. In addition to holding Rakyat (MARA), Dewan Bandaraya dan Tabung Haji (LUTH). It provides controlling stakes in these listed Kuala Lumpur (DBKL), Lembaga savings services to Muslims who are companies, it also wholly owns Kemajuan Tanah Persekutuan planning pilgrimages to Mecca. It Malaysia Airlines Bhd, and has a (Felda), Lembaga Pemasaran engages in the in vestment of accu- 51% share in highway company Pertanian Malaysia (Fama), local gov- mulated funds and monitoring of PLUS Malaysia Bhd. ernment universities and govern- investment functions through Recently, it was highlighted that ment hospitals. Shariah-compliant vehicles. Khazanah had suffered large losses The