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Under the Ministry of Finance's GEAR-uP programme, 91.7% of permanent Malaysian employees across GLICs and GLCs earned at least RM3,100 a month by December.
The Ministry of Finance (MOF) recently launched its 2026 GEAR-uP Report Card, the first full-year report of the Government-linked Enterprises Activation and Reform Programme (GEAR-uP).
According to the report, in 2025, the Government-Linked Investment Companies (GLICs) committed and deployed RM20.3bn in domestic direct investment, about three times the RM6.6bn recorded in 2024.
Of this, RM1.4bn went into the semiconductor industry and RM1.8bn into digital and logistics infrastructure, with further investments in energy, healthcare, food security and young Malaysian companies.
YB Senator Datuk Seri Amir Hamzah Azizan, Finance Minister II said GEAR-uP aims to turn capital into capabilities by building businesses, creating good jobs and ensuring Malaysians are paid fairly. He added that the report reflects the outcomes delivered during the programme’s first full year.
“We do not measure success in ringgit alone. We measure it in wages raised, in graduates starting good jobs, in firms growing, and in supply chains taking root in Malaysia,” he said.
Living wages and wider support
As at December 2025, 91.7% of the 206,987 permanent Malaysian employees (189,807) across the GLICs and their 37 Government-linked Companies (GLCs) earned at least RM3,100 a month — the living wage benchmark.
This follows the commitment the six GLICs made together in May 2025.
The GLICs and GLCs also invested RM641nb in community programmes in 2025, 20% more than the year before. Their scholarships supported an average of 7,526 students a year between 2020 and 2025, with 88% of them from B40 and M40 households.
Bumiputera empowerment remains central to the programme, MOF said. In 2025, the GLICs invested RM1.3bn directly into Bumiputera companies to help them grow. Meanwhile, GLCs and PETRONAS bought around RM49bn a year of goods and services from Bumiputera businesses over 2022 to 2025.
What’s next for GEAR-uP
GEAR-uP enters 2026 with the 37 GLCs under the six GLICs now part of the programme.
They delivered an 8.0% shareholder return for the overall portfolio in 2025, against a 7.5% target.
Most of the RM120bn commitment is still to be deployed, with the capital set to continue flowing into semiconductors, digital infrastructure, healthcare and energy transition.
Bakat MADANI will bring training and job opportunities to 25,000 Malaysians by the end of 2027.
As the programme moves into the next phase, the focus will remain on deploying the remaining commitment while continuing to support investment, jobs and workforce opportunities.
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