SHAH ALAM, Aug 13 — The state government envisions Menteri Besar Selangor (Incorporation) or MBI becoming an investment company capable of making strategic investments and generating sustainable income for Selangor.
Menteri Besar Dato’ Seri Amirudin Shari said its future role should extend beyond owning companies and holding strategic state assets, with the corporation also expected to strategically invest in sectors that can contribute to Selangor’s long-term economic growth and financial sustainability.
“It is no longer about owning companies and holding strategic state government assets, but also being ready to invest in the future for the well-being and continuous recurring income of the state government,” he said during his winding-up speech on the Second Selangor Plan (RS-2) at the State Legislative Assembly sitting today.
In November last year, Amirudin said that the state government plans to set up an investment entity similar to Khazanah Nasional Bhd after strengthening MBI’s governance.
Addressing the Assembly, he said among the areas identified for potential investment are semiconductors, life sciences, medical devices, energy, automotive-related industries, and digital infrastructure such as dark fibre.
"The semiconductor sector could be expanded beyond integrated circuit design into areas such as wafer manufacturing, while the state also needs to explore the potential of life sciences and medical devices, which have significant capacity for growth.
"A stronger investment team will be needed to properly evaluate opportunities and ensure state investments generate greater returns,” Amirudin said.
On unlocking Selangor’s assets, the state government is exploring redevelopment, urban regeneration, and real estate investment structures such as Real Estate Investment Trusts to maximise the value and returns of existing assets.
He cited the redevelopment of Section 14, Petaling Jaya, including Kompleks PKNS and the surrounding areas, as an example of efforts to enhance asset yields while repositioning assets that are no longer sufficiently competitive.
"Unlocking asset value through redevelopment and new development would allow the state to maximise returns from its existing land and property assets while supporting its broader investment strategy,” Amirudin said.
