GEAR-uP Set To Deliver Greater Impact To Rakyat In 2026, 2027 -- MoF
KUALA LUMPUR, Aug 7 (Bernama) -- Malaysia can expect to see the benefits of the Government-Linked Enterprises Activation and Reform Programme (GEAR-uP) materialise as the deployment of the RM120 billion in committed funds accelerates, with a significant amount of work already underway for 2026 and 2027.
The Finance Ministry (MoF) said the deployment of funds towards national priorities and community welfare, as well as the commitment to implementing a living wage led by government-linked investment companies (GLICs) and government-linked companies (GLCs), would contribute to greater liveability.
“Most of the RM120 billion commitment is still to be spent. The coming two years will be focused on staying the course and delivering, ensuring that changes reach the rakyat and endure for generations. That is the work ahead,” the MoF said in its GEAR-uP Progress Report released today.
The ministry said a total of RM1.4 billion was allocated and deployed to elevate Malaysia’s semiconductor value chain in 2025, alongside RM1.8 billion to deepen the country’s digital and logistics infrastructure.
Another RM588 million was allocated and deployed to build the venture capital pipeline last year, the MoF said, adding that at least 130 Malaysian startups have been supported by GLICs since 2022.
Meanwhile, RM1.8 billion in growth capital was allocated and deployed to help scale up mid-tier companies in 2025.
In support of national priorities, RM12 billion was spent on strengthening the national grid last year, forming part of the RM42.8 billion in regulated capital expenditure planned for the 2025-2027 period. Additionally, RM600 million was earmarked for Khazanah Nasional’s Dana Warisan heritage rejuvenation projects.
The MoF said GLICs and GLCs also continued to future-proof Malaysia’s workforce by sponsoring an average of 7,526 scholars annually between 2020 and 2025, 88 per cent of whom were from the lower- to middle-income households, while 9,934 youths were placed in Khazanah’s K-Youth TVET training programme in 2025.
It said GLICs and GLCs also spent RM641 million to strengthen community livelihoods and wellbeing across Malaysia in 2025, an increase of 20 per cent from RM534 million in 2024. This brings the cumulative spending since 2021 to RM2.6 billion.
As of 2025, 399 schools and villages had been adopted by GLICs and GLCs under the Santuni MADANI and Sekolah Angkat MADANI programmes.
On championing living wages, the MoF said 189,817 permanent Malaysian employees within GLICs and GLCs were receiving a living wage, representing 91.7 per cent of the total 206,987 permanent Malaysian employees.
-- BERNAMA