PNB and GLICs to Propel 10 Bumiputera Firms Toward RM500m IPOs by 2030

A bold push to transform Bumiputera businesses into market leaders. With GLICs’ backing, these firms could soon trade on the stock market—reshaping Malaysia’s economy.

, and Administrator

2025 December 7 . 1:01 PM

1 min read

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PNB and GLICs to Propel 10 Bumiputera Firms Toward RM500m IPOs by 2030

PNB, GLICs aim to grow 10 Bumiputera companies to RM500m and beyond; eye IPO potential on the stock market today. KUALA LUMPUR, Dec 7 - Permodalan Nasional Bhd (PNB), together with other Government-Linked Investment Companies (GLICs), is committed to driving the 10 Bumiputera Champions onto the stock market by 2030. The programme, backed by six government-linked investment corporations (GLICs), will help these firms reach a market value of at least RM500 million, the minimum threshold for listing on the stock market’s primary board. The scheme, named the 10 Bumiputera Champions, falls under the Government-linked Enterprises Activation and Reform Programme (GEAR-uP) and the broader Madani Economy agenda. Six GLICs—PNB, KWAP, EPF, Khazanah Nasional Bhd, Lembaga Tabung Haji, and LTAT—are leading the effort. Their support will include capacity building, market access, strategic advice, and tailored value-creation plans for these stock market listings. The programme’s success would see 10 Bumiputera firms listed on the stock market within five years, each meeting the RM500 million valuation requirement and enabling broader investment opportunities.