KUALA LUMPUR: Government-linked companies (GLCs) and government-linked investment companies (GLICs) have together backed up Bumiputera firms through procurement, growth capital, public listings and capability-building initiatives under the Government-Linked Enterprises Activation and Reform Programme (GEAR-uP) agenda.
The Finance Ministry (MOF) stated in its GEAR-uP Progress Report, released this week, that GLCs and Petronas Nasional Bhd (Petronas) channelled RM49.0 billion in procurement spending to Bumiputera businesses in 2025, supported by Vendor Development Programmes that combine opportunities with capability-building (…)