KUALA LUMPUR: Malaysia may list certain state-owned entities to cut government debt and liabilities, Prime Minister Mahathir Mohamad said on Tuesday as it seeks new revenue sources to boost its fiscal position.
Mahathir, elected in a stunning upset last year, has blamed the previous administration of Najib Razak for saddling Malaysia with debt and liabilities of more than 1 trillion ringgit ($245.52 billion).
A government panel to cut debt is looking at strategies, such as “identification of opportunities on potential asset monetization, which means mature unlisted government entities may be listed in the stock market,” he said.
State-linked companies could also pare equity stakes, he told a conference of investors in Kuala Lumpur.
“The key guiding principles for monetising any of our assets is that the disposal or monetization must never be done at fire-sale prices, and any disposal of shares, monetization of assets, auctions or other measures will be done in an orderly manner.”
He did not identify specific companies or fix a timeframe for the plan, however.
Sovereign wealth fund Khazanah Nasional announced a new strategy this month, saying it was gearing up to be a “long-term real return provider” to the government through its commercial investments.
Last month Reuters reported, citing sources, that Khazanah’s new strategy aimed at delivering more cash to the government by pruning stakes in non-strategic assets.
Some analysts have also speculated the government could list a small portion of its stake in state energy firm Petronas to generate revenue.
Petronas is the sole manager of Malaysia’s oil and gas reserves. Although some of its subsidiaries are listed on the national stock exchange, Petronas is fully owned by the government.
Finance Minister Lim Guan Eng said last year the government had no immediate plans to sell stakes in state-owned companies, but did not rule out the possibility in the future.
Lim and Mahathir have blamed corruption scandals in the previous administration for Malaysia’s large debts. The fiscal situation was also hurt after the new government scrapped an unpopular consumption tax, in line with a campaign promise.
Former premier Najib has been slapped with dozens of corruption charges since his defeat in May 2018, many related to alleged money laundering at state fund 1MDB.
He has pleaded not guilty and has consistently denied any wrongdoing.
Mahathir: Some Malaysian state-owned entities may be listed
Mahathir: Some Malaysian state-owned entities may be listed
- Malaysia is saddled with debt and liabilities of more than 1 trillion ringgit ($245.52 billion)
- A government panel to cut debt is looking at strategies
Oman’s MSX leads GCC equity markets in 2025: Kamco Invest
RIYADH: Oman’s Muscat Securities Market emerged as the best-performing index in the Gulf Cooperation Council region in 2025, rising 28.2 percent year on year, according to an analysis by Kamco Invest.
In its latest report, the financial firm said the MSX 30 Index closed the year at 5,866.8 points, marking one of the strongest annual performances among GCC markets.
According to the analysis, the index reached its annual peak at 5,985.66 points in mid-December, while its lowest level was 4,223.83 points in early April, reflecting a 38.9 percent recovery from the year’s trough.
Developing a robust capital market ecosystem remains crucial for GCC countries as they pursue economic diversification efforts to reduce dependence on oil revenues.
“The aggregate MSCI GCC index reported a gain of 1.6 percent during the year despite largely positive performance at the country level. At the exchange level, Oman witnessed the biggest gains during the year with a double-digit surge of 28.2 percent,” said Kamco Invest.
The report added that Boursa Kuwait ranked as the second-best-performing market in the GCC, posting gains of 21.2 percent during the year.
The Abu Dhabi Securities Exchange advanced 6.1 percent, while the Dubai Financial Market climbed 17.2 percent, supported by selective strength in real estate and services stocks.
The Qatar Exchange recorded a marginal increase of 1.8 percent, while the Bahrain Bourse rose 4.1 percent in 2025.
Despite a 12.8 percent decline, Saudi Arabia dominated regional listings activity during 2025.
The Kingdom saw 13 companies debut on the Tadawul All Share Index, along with two transfers from the parallel Nomu market to the main market. In addition, 28 companies were listed on the Nomu market.
Flynas was Saudi Arabia’s largest initial public offering in 2025, raising SR4.1 billion ($1.1 billion) in one of the region’s biggest aviation listings.
Other notable IPOs during the year included Umm Al Qura for Development & Construction Co., Specialized Medical Co., Derayah Financial Co., and Dar Al Majed Real Estate Co.
“At the sector level, the yearly performance (in the region) was skewed toward decliners with over 30 percent fall in Utilities, Insurance and Consumer Durable indices. On the gainers side, Telecom, Banks and Diversified Financials indices showed double gains that offset the overall weakness,” added Kamco Invest.
