SHAH ALAM, Aug 10 — The establishment of a state investment holding company is a strategic move to optimise assets, resources and companies owned by the Selangor government, enabling them to generate more efficient and higher returns for the state.
Menteri Besar Selangor (Incorporated), or MBI, group chief executive officer Dato’ Saipolyazan M Yusop said the initiative forms part of MBI’s strategic planning in line with the direction of the Second Selangor Plan (RS-2).
He said establishing the company would enable the assets and businesses of state-owned companies to be restructured more strategically, while reducing overlapping functions and maximising their value.
“This is part of our plan that we have presented to the MBI board of directors and discussed on several occasions with the state government as we move towards establishing this state government investment company.
“Similar to the approach at the federal level, where there are Minister of Finance Incorporated (MKD), Khazanah and others, we want to reorganise Selangor’s assets, including its businesses and companies, so they can generate more efficient and higher returns for the state government,” he said.
He was speaking to reporters at the Mega JobCare Selangor 2026 career carnival with MYFutureJobs at the Shah Alam Convention Centre on August 8.
Saipolyazan said the establishment of the investment holding company was also aimed at harnessing Selangor’s assets and resources to ensure that high-performing investments could be leveraged for the state’s future benefit.
“At the same time, we are looking at how we can build a company entrusted by the state government to serve as Selangor’s investment company or investment arm.
“The available resources can then be utilised through what we might call a ‘Khazanah Selangor’, ensuring high-performing investments and allowing these resources to be used for Selangor’s benefit in the future,” he said.
In a related development, Saipolyazan said MBI was optimistic that its target of exceeding RM8 billion in revenue by 2028 under the THRIVE28 plan was achievable based on current performance.
He said THRIVE28 remained on track after entering its third phase, with the performance of subsidiaries monitored regularly.
“We have entered the third phase, and every three months we review the performance of the subsidiaries placed under the THRIVE programme. So far, we remain on track,” he said.
During the tabling of the RS-2 motion in the Selangor State Legislative Assembly last Friday, the state government proposed restructuring the operations, roles and investment portfolios of state government-linked companies (GLCs) and their subsidiaries.
The proposal includes realigning MBI’s functions and establishing a fully integrated state investment holding company to enhance cohesion, cost efficiency and returns to the state government.
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