Retirement Fund Inc (KWAP) has invested RM51 million through its Dana Pemacu initiative to support the growth of a Malaysian nutraceutical products supplier and brand owner, as part of efforts to strengthen the country’s private markets ecosystem and healthcare sector.
According to the Ministry of Finance’s (MoF) GEAR-uP Progress Report released today, the investment was made in Bio-Science Nutraceutical Holdings Sdn Bhd through local general partner Mekar Capital and global general partner Navis Capital.
The ministry said the investment demonstrates how institutional capital can help develop high-value healthcare and wellness businesses by enhancing Malaysia’s capabilities in nutraceutical innovation, product commercialisation and premium brand development.
The report also highlighted another Dana Pemacu initiative involving the development of centralised labour quarters through Foster Capital as the local general partner and Castleforge as the global general partner.
Under the first phase of the project, KWAP has committed RM210 million to develop accommodation for 9,000 workers. The initiative forms part of a larger development comprising four projects that will provide 28,800 beds with a combined gross development value of approximately RM600 million.
The Ministry of Finance said the project aims to improve living conditions for workers while supporting Malaysia’s long-term economic growth.
Launched in May 2024, Dana Pemacu is designed to accelerate Malaysia’s economic transformation by deploying commercially viable investments that create long-term value while enhancing the impact of government-linked investment companies (GLICs).
The report also outlined the progress of Khazanah Nasional’s Dana Impak initiative. As of June 2026, the programme had supported 32 mid-tier companies through the Mid-Tier Companies Growth Innovation Programme and another 21 companies under the ELEVATE 2.0 Programme.
MoF added that GLICs continue to play a key role as cornerstone investors in quality listings on Bursa Malaysia, helping to strengthen the country’s capital markets by providing funding that can be reinvested into future high-growth businesses.
The ministry said achieving the Capital Market Master Plan 2026–2030 target of RM5.8 trillion to RM6.3 trillion in market capitalisation by 2030 will depend on a steady pipeline of new listings supported by institutional investors.
Meanwhile, GLICs actively managed a portfolio of 37 government-linked companies (GLCs) with a targeted annual return of 7.5% between 2024 and 2028. In 2025, the portfolio exceeded expectations by delivering an 8.0% shareholder return, with the potential to generate up to RM100 billion in value.
MoF noted that as GLCs account for around 27% of Bursa Malaysia’s Main Market capitalisation, the returns generated ultimately benefit Malaysians through institutions such as the Employees Provident Fund (EPF), KWAP, Permodalan Nasional Bhd (PNB) and Lembaga Tabung Haji.
The ministry added that GLICs continue to create long-term value by driving shareholder returns, strengthening corporate governance and supporting Malaysia’s strategic national development priorities.
