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Khazanah Nasional to launch green investment platform in bid to attract investments

Khazanah Nasional to launch green investment platform in bid to attract investments

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State-owned investment fund Khazanah Nasional is set to spearhead a green investment platform to attract new direct investments into Malaysia, to build domestic champions and to create high quality job opportunities for Malaysians.

This nation-building initiative was announced by Malaysia’s PM, Anwar Ibrahim. The platform aims to attract domestic and overseas investments, which will be mobilised under UEM group, a wholly-owned subsidiary of Khazanah.

The platform, according to Khazanah, will look to invest and build businesses in the green sector such renewable energy and storage, green building technology and energy efficiency, and e-mobility ecosystem. While being in line with Khazanah’s ‘advancing Malaysia’ strategy, the platform is aimed at delivering Khazanah’s societal, strategic and financial mandates.

Don't miss: Khazanah maintains stake at Iskandar Malaysia Studios but sells operator shares

A release to the press stated that Khazanah plans for the platform to drive Malaysia’s decarbonisation agenda while also upskilling Malaysians in green sectors over the long term.

Moreover, it also serves to unlock value in Khazanah’s existing portfolio and achieve commercial returns by developing its seed assets through new investments and collaboration with high potential local and international companies.

Khazanah’s managing director, Amirul Feisal Wan Zahir said, “Our vision is the development of a globally competitive green investment platform in the region, with a direct and active ownership approach.” He added that 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 decarbonisation 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 explained.

Khazanah stated that it will soon launch a comprehensive strategy on strategic investments via UEM Group 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 centre 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 synergising efforts across our companies,” added Feisal.

A+M has reached out to Khazanah Nasional for more information.

Earlier this month, Khazanah handed over its shares in Iskandar Malaysia Studios’ (IMS) studio operating company to local management team Studio Management Services (SMS) to provide more job opportunities locally. Currently, IMS, which occupies 19.8 hectares of Iskandar Puteri, Johor, remains to be owned by Khazanah through Tanjung Bidara Ventures, the investment fund’s special-purpose vehicle, according to Deputy Finance Minister II Steven Sim Chee Keong as quoted in Bernama.

Minister Sim clarified that Khazanah Nasional only disposed of shares in the studio’s operating company to find a new partner which could better manage the studio.

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