Selangor launch new investment arm

SHAH ALAM: The Selangor state government yesterday launched Darul Ehsan Investment Group (DEIG), its new investment holding arm that is expected to provide returns on investments for the state.
The newly incorporated DEIG and will drive the state's Agenda Makmur Selangor initiative that was launched simultaneously by Menteri Besar Mohamed Azmin Ali.
With the Agenda Makmur Selangor, the state goverment aims to generate income from its holdings of state-governemnt linked companies (GLCs) , and reduce state income dependency on taxes and Federal funding.
The investment policy and strategy of DEIG aims to strengthen the middle class, provide high income, improve the quality of live and create more meaningful jobs.
Currently, assets under Selangor state-GLCs are estimated to be between RM25 to RM30 billion and spans across multiple industries such as property development, mining & mineral, infrastructure, waste management, real estate, media & communications, education and others.
The Agenda Makmur Selangor supports the DEIG's key focus areas on housing, education, infrastructure, environment and healthcare.