Anwar flags concerns over GLICs' hasty foreign investments

Anwar Ibrahim has called for greater scrutiny of how Malaysia's government-linked investment companies (GLICs) commit capital to foreign ventures, pointing to significant losses incurred through investments in high-profile international projects.

The Prime Minister's remarks reflect growing concerns about the due diligence processes employed by state-owned investment entities when deploying funds abroad. The Battersea Power Station project in London has emerged as a focal point for this discussion, with the scale of losses prompting questions about investment vetting and risk assessment procedures.

Anwar's intervention suggests the government is re-examining how GLICs evaluate overseas opportunities and the speed at which investment decisions are made. The concerns appear rooted in whether adequate safeguards exist to protect public capital deployed internationally, particularly in complex, large-scale infrastructure and development projects.

The Prime Minister's position indicates a broader push for enhanced governance standards among state investment vehicles, emphasising the need for more measured and cautious approaches to foreign capital allocation. These comments come as Malaysia's government continues to grapple with balancing domestic priorities against international investment opportunities.