What are Government-Linked Investment Companies (GLICs)?
GLICs are defined as Federal Government linked investment companies that allocate some or all of their funds to GLC investments. Defined by the influence of the Federal Government in: appointing/approving Board members and senior management, and having these individuals report directly to the Government, as well as, in providing funds for operations and/or guaranteeing capital (and some income) placed by unit holders. The definition currently includes seven GLICs: EPF, Khazanah, KWAP, LTAT, LTH, MKD and PNB. Which companies are categorized as GLCs? The category of GLCs comprises companies that are controlled by the respective State Governments and State-level agencies. This includes companies that the Government of Malaysia controls directly as its agencies such as Khazanah Nasional, MOF Inc., KWSP and Bank Negara Malaysia. Includes companies where GLCs themselves have a controlling stake, i.e. subsidiaries and affiliates of GLCs.
