Malaysia’s state-owned investment fund, Khazanah Nasional, is setting the stage for a green investment platform, a ground-breaking initiative unveiled by Prime Minister Anwar Ibrahim. The strategic move aims to usher in fresh direct investments to Malaysia, nurture domestic champions, and create high-quality employment opportunities for Malaysians.
The pioneering platform, operated under the aegis of UEM Group, a wholly-owned subsidiary of Khazanah, aspires to magnetize both domestic and international investments. It aims to venture and expand businesses in the burgeoning green sector, encompassing renewable energy and storage, green building technology and energy efficiency, and the e-mobility ecosystem.
Khazanah outlines that the initiative aligns with its ‘advancing Malaysia’ strategy, seeking to deliver on its societal, strategic, and financial objectives. The platform is envisioned to accelerate Malaysia’s decarbonization journey while elevating the skill sets of Malaysians in green sectors for long-term benefits.
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The platform also plans to unlock value in Khazanah’s existing portfolio and yield commercial returns by nurturing its seed assets through new investments and alliances with high-potential domestic and international companies.
Khazanah’s Managing Director, Amirul Feisal Wan Zahir, envisions the creation of a globally competitive green investment platform in the region, which will be actualized through direct and active ownership. The platform will roll out in phases, with an initial goal of nurturing green domestic champions, followed by a medium-term objective of creating a regionally competitive platform.
Khazanah is slated to soon announce a comprehensive strategy on strategic investments through UEM Group and collaborations with both local and foreign entities. The plan includes approaches to attract green investments to foster a vibrant green economy ecosystem.
Feisal expressed anticipation for contributing towards the government’s goal of positioning Malaysia as ASEAN’s hub for electricity interconnection and integration, thus promoting sustainable development in the region.
Khazanah Nasional, earlier this month, transferred its shares in Iskandar Malaysia Studios’ (IMS) studio operating company to the local management team Studio Management Services (SMS), a move aimed at providing more local job opportunities. However, Khazanah still retains ownership of IMS through its special-purpose vehicle, Tanjung Bidara Ventures.
News of this green investment initiative was first reported on Marketing Interactive.
