KUALA LUMPUR (Oct 10): Government-linked investment companies (GLICs) will boost public spending by at least RM30 billion in 2026 through the Government-Linked Companies Empowerment and Reform (GEAR-uP) programme, helping to drive national growth.

Here’s what the GLIC chiefs had to say about Budget 2026:

Managing director, Khazanah Nasional Bhd

Through Dana Impak and Jelawang Capital, we are investing to expand opportunities, build capabilities, and nurture Malaysia’s innovation ecosystem. The Khazanah Mid-Tier Companies Programme will provide up to RM250 million in financing to help mid-sized firms build scale and move up the value chain. 

Khazanah continues to support the government’s strategic investment agenda in priority areas such as semiconductors, energy transition and rare earths. In semiconductors, we continue to foster collaboration between local firms and multinational partners. Together with other GLICs, these efforts reflect a collective push to strengthen domestic investments under GEAR-uP. 

Complementing this, the K-Youth programme is investing RM200 million to provide work-based training for 11,000 Malaysians in high-value sectors, equipping talent for the industries of tomorrow. Khazanah also supports initiatives to strengthen Malaysia’s international linkages. 

The empowerment of Malaysia Airports Holdings Bhd will boost air connectivity and attract investment, further strengthening the nation’s aviation and tourism sectors ahead of Visit Malaysia Year 2026. 

Additionally, we welcome ongoing initiatives under Warisan KL, which will continue to revitalise the capital’s heritage and reimagine its role as a cultural and economic hub. Khazanah is investing RM600 million in the conservation of Carcosa and Seri Negara, as well as six building blocks within the Bangunan Sultan Abdul Samad Complex in Kuala Lumpur. 

Budget 2026 reflects a collective effort and commitment to fortify Malaysia’s foundations, laying the groundwork for a resilient, inclusive and future-ready nation. Khazanah remains steadfast in our commitment to collaborate with the government and our partners to translate national priorities into real progress for Malaysians.

Chief executive officer, Kumpulan Wang Persaraan Diperbadankan (KWAP)

Through our GEAR-uP initiatives via Dana Pemacu and Dana Perintis, KWAP remains committed to mobilising capital that strengthens Malaysia’s investment ecosystem and catalyses the next engines of national growth.

To this end, RM1.2 billion has been allocated under Dana Pemacu to build a vibrant domestic investment landscape, focusing on high-growth sectors such as energy transition, food security,and the digital economy, all of which align with the budget’s emphasis on innovation-driven and value-creating industries.

Complementing this, the combined investment under KWAP’s Dana Perintis and Khazanah’s Jelawang Capital will increase to RM750 million from RM550 million to accelerate Malaysia’s start-up and innovation ecosystem, nurturing enterprises that contribute to technological advancement and job creation.

At the same time, KWAP and Khazanah will jointly invest RM550 million in the semiconductor ecosystem, a strategic move to deepen collaboration between local firms and multinational players, strengthening Malaysia’s position as a global hub for high-value manufacturing and advanced technology.

KWAP is pleased to allocate RM20 million for a micro-financing programme designed to foster entrepreneurship among pensioners, enabling them to remain economically active and supplement their post-retirement income.

This reflects our continued commitment as Teman Persaraan Anda. The budget’s emphasis on digitalisation opens new opportunities to create a more inclusive and connected economy.

President and group chief executive, Permodalan Nasional Bhd (PNB)

PNB is grateful for the continued allocation for the Celik Madani programme, aimed at enhancing financial literacy and encouraging responsible investment behaviours among young Malaysians and increase of Amanah Saham Bumiputera 3 Didik (ASB 3 Didik) and Amanah Saham Malaysia (ASM) unit trust fund size by an additional five billion units each amounting to 10 billion units.

This will enable all Malaysians to take meaningful steps toward securing their financial future and unlocking greater potential for long-term wealth creation.

The increase in fund size strengthens PNB’s commitment to financial inclusion, opening up more opportunities for the rakyat, including first-time and new investors with Amanah Saham Nasional Berhad (ASNB), to participate in and benefit from ASNB’s investment products.

PNB is committed to playing its role in implementing the related initiatives under the budget, including greater direct domestic investments by GLICs under the GEAR-uP programme, and encouraging Malaysians to save more to secure their long-term future.

Chief executive, Lembaga Tabung Angkatan Tentera (LTAT)

With a total allocation of RM470 billion, including RM30 billion from GLIC investments under GEAR-uP, the budget reinforces the government’s focus on fiscal responsibility, national resilience and shared prosperity.

The increase in GLIC investments from RM25 billion to RM30 billion will further strengthen LTAT’s capacity to create long-term value through its group companies. In addition, the RM21.7 billion allocation for the Ministry of Defence demonstrates the government’s continued commitment to national security, including RM6 billion for the maintenance and acquisition of new defence assets.

The government emphasises its focus on the rakyat’s well-being through PuTERA35, Ikhtiar Madani Untuk Rakyat, and the expansion of public-private partnerships in essential medicine production. These efforts align with LTAT’s own initiatives including the Jalinan Wira Volunteer Programme, as well as Pharmaniaga Bhd ’s role in strengthening Malaysia’s healthcare security and local pharmaceutical capacity.

Budget 2026 reflects the government’s vision for a resilient, inclusive and forward-looking Malaysia. LTAT stands ready to support its implementation through responsible investments that strengthen defence-linked industries, uplift the welfare of Armed Forces personnel, and drive long-term value for our contributors and the nation.

Click here for all you need to know about Malaysia's Budget 2026.