Speaking at the inaugural KL20 Summit on Monday (April 22), Prime Minister Datuk Seri Anwar Ibrahim announced that a total of RM1bil has been allocated to establish a 'National Fund-of-Funds' for investing in innovative, high-growth Malaysian companies.
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NewsTranscript
00:00Please give a big round of applause as we welcome
00:02Young Ahmad Muhammad Registry Anwar Bin Ibrahim
00:06to deliver his keynote address.
00:09Last October, in the Malaysia Madan Budget 2024 announcement,
00:15I outlined the government's commitment for Malaysian companies
00:20from Bumiputera entrepreneurs to startups, SMEs and rising champions.
00:28The government is also aiming to centralise investment agencies
00:33such as MEFCAP, Penjana Capital and Khazanah.
00:38In this regard, I am pleased to share that Khazanah National
00:43will launch a National Fund of Funds,
00:47a Malaysian-focused fund with an initial RM1 billion allocation
00:53to invest in innovative high-growth companies.
00:59Shortly, we shall witness this continuing trend of confidence
01:05from investors in all parts of the startup ecosystems,
01:0925 entities in total, that will give a real chance for Malaysia
01:16to create cutting-edge technology ventures.
01:21The investments today will include
01:25Sovereign Wealth Funds as Khazanah National Berhad,
01:30Kumpulan Wang Persaraan and Blue Chip Venture Capital
01:35that will invest up to RM3 billion in Southeast Asia and Malaysia ecosystems
01:42under the ASEAN Investment Initiative.
01:48In semiconductors, Malaysia's substantial hold on the back end
01:54has made it conducive to pursue high-value front-end work,
02:00chiefly in the integrated circuit IC design category.
02:05That is why today I am pleased to announce
02:09the largest IC design park in Southeast Asia
02:14that will house world-class anchor tenants
02:17and collaborate with global companies such as ARM.
02:21This is done with the backing of Selangor Information Technology
02:24and Digital Economic Corporation, SELAC,
02:27with the Selangor State Government
02:35and is a proof that momentum is already being built on the ground.
02:42Additionally, to make Malaysia a true gateway to major economies,
02:47we will also witness the city-to-city connection
02:51between Kuala Lumpur and Hangzhou
02:53so that capital, talent and market access
02:58will no longer be a barrier to success.
03:01We are positioning Malaysia as an axis for leaders in semiconductors,
03:07clean energy, agritech and Islamic fintech.
03:12Doubling down on our edge will tap into the higher-value effort
03:17necessary to create new growth verticals and transform our futures.